After yesterday's rise, pepper futures prices fell by Rs 112, or 0.59 per cent, to Rs 19,011 per quintal today after speculators locked-in profits.
However, export demand and restricted supplies from producing belts, restricted losses.
At the National Commodity and Derivatives Exchange platform, pepper for delivery in July contract fell by Rs 112, or 0.59 per cent, to Rs 19,011 per quintal, with an open interest of 32,011 lots.
Similarly, the spice for delivery in August contract also fell by Rs 77, or 0.40 per cent, to Rs 19,300 per quintal, with an open interest of 13,120 lots.
Analysts attributed the fall in pepper prices in futures trade to profit booking by speculators after yesterday's gains, but export demand and restricted supplies in the spot market, restricted losses.