Pepper prices declined by 1% to Rs 45,150 per quintal in futures trade today as speculators indulged in booking profits. However, output concerns due to low rains capped the losses.
At the National Commodity and Derivatives Exchange, pepper for delivery in August fell by Rs 455, or 1%, to Rs 45,150 per quintal, with an open interest of 1,069 lots.
September pepper lost Rs 315, or 0.71%, to Rs 43,840 per quintal, with an open interest of 4,671 lots.
Analysts said profit-booking by speculators after recent gains and reports of lower exports led to the fall in pepper futures prices.
The Indian product failed to attract buyers at current levels in the overseas markets.
However, thin supplies in the market amid concerns over lower ouptut due to deficient rains in key growing regions capped the losses, they added.