Pepper futures extend losses, slide 0.80% on tepid demand

Continuing its falling streak for the third straight day, pepper prices eased further by 0.80 per cent to Rs 47,800 per quintal in futures market today as speculators engaged in reducing their positions on the back of muted demand in the spot market.
At the National Commodity and Derivatives Exchange, pepper for delivery in September fell by Rs 385, or 0.80 per cent, to Rs 47,800 per quintal, with an open interest of 180 lots.
In a similar fashion, the spice for delivery in October declined by Rs 25, or 0.05 per cent, to Rs 47,800 per quintal in 43 lots.

Market analysts said offloading of positions by participants due to sluggish demand in the physical market against adequate stocks position on increased supplies from producing belts, mainly kept pepper prices lower at futures trade.