Pepper prices were trading 0.37% lower at Rs 38,685 per quintal in futures trading today as speculators reduced their holdings on the back of weak export demand at prevailing higher levels.
At the National Commodity and Derivatives Exchange, the June contract fell by Rs 145, or 0.37%, to Rs 38,685 per quintal with an open interest of 350 lots.
May pepper shed Rs 135, or 0.36%, to Rs 37,890 per quintal in 4,497 lots.
Analysts said speculators had offloaded their positions on the back of weak export demand at prevailing high price levels.