Pepper futures fall on profit taking

Pepper prices drifted by Rs 129 to Rs 22,400 per quintal in the futures trade today as speculators indulged in booking profits at existing higher levels.

At the National Commodity and Derivatives Exchange, pepper for far-month February contract fell by Rs 129, or 0.57 per cent to Rs 22,400 per quintal with an open interest of 255 lots.

Similarly, the spices for delivery in November contract declined by Rs 93, or 0.43 per cent to Rs 21,536 per quintal in 4,271 lots.

Marketmen said profit-taking by speculators and fall in demand in the spot market mainly led to a decline in the  pepper prices in the futures trade.