Pepper prices today drifted by Rs 120, or 0.76 per cent to Rs 15,573 per quintal in futures trade, as traders reduced their positions, triggered by sluggish spot demand and weak exports.
At the National Commodity and Derivatives Exchange, pepper for July contract moved down by Rs 120 or 0.76 per cent to Rs 15,573 per quintal, with an open interest of 6,613 lots.
Similarly, the spice for delivery in June contract traded Rs 103, or 0.67 per cent lower at Rs 15,344 per quintal, with an open interest of 7,540 lots.
Analysts attributed the fall in pepper prices in futures market to a sluggish demand at domestic markets and weak exports, as Indonesia is offering cheaper than India in the global markets.