Pepper futures prices fell by Rs 174 to Rs 22,100 per quintal today as speculators reduced positions, sparked by sluggish export demand amid fear of drift in prices once fresh arrivals start.
The new crop is expected to come by January-end. Estimates of less global production and diminishing stocks limited the downside.
At the National Commodity and Derivatives Exchange counter, pepper for delivery in March traded Rs 174, or 0.78 per cent lower, at Rs 22,100 per quintal, with an open interest of 214 lots.
Likewise, the spice for delivery in January declined by Rs 142, or 0.65 per cent, to Rs 21,609 per quintal, with a business turnover of 11,316 lots.