Pepper futures prices today fell by Rs 67 or 0.41 per cent to Rs 16,363 per quintal as speculators booked profits at existing levels.
However, low stocks in the physical market improved spot demand and limited losses at futures market.
At the National Commodity and Derivatives Exchange, pepper for May contract moved down by Rs 67, or 0.41 per cent to Rs 16,363 per quintal, with an open interest of 1,895 lots.
Similarly, the spice for delivery in June contract also traded Rs 59, or 0.35 per cent lower at Rs 16,810 per quintal, with an open interest of 12,960 lots.
Analysts attributed the fall in pepper prices at futures market to profit taking by speculators, after yesterday's rise.
Meanwhile, pepper prices shot up Rs 458 to Rs 16,200 per quintal at Kochi in yesterday's trading, a major trading hub in Kerala.