Pepper succumbs to profit taking; down 0.29%

Amid profit booking by speculators, pepper futures prices fell by Rs 65 to Rs 22,532 per quintal today largely on the back of fresh arrivals, amid low demand in the spot market. 

At the National Commodity and Derivatives Exchange counter, pepper for delivery in January traded Rs 65, or 0.29 per cent lower, at Rs 22,532 per quintal, with an open interest of 5,337 lots.

Likewise, the spice for delivery in February declined by Rs 56, or 0.24 per cent, to Rs 22,941 per quintal, with a business turnover of 6,862 lots. 

Market analysts said emergence of profit booking by speculators, fresh arrivals from producing belts low demand in the market, led to the decline in pepper futures prices.