Pepper prices dropped by Rs 205 to Rs 29,310 per quintal in futures trade today as speculators offloaded their positions, triggered by rising arrivals in the physical markets.
At the National Commodity and Derivatives Exchange, the February contract fell by Rs 205, or 0.69%, to Rs 29,310 per quintal with an open interest of 3,506 lots.
Likewise, the spice for delivery in March contract lost Rs 45, or 0.15% to Rs 29,770 per quintal in 3,223 lots.
Analysts said offloading of positions by speculators following rising arrivals of new crop in the spot market mainly kept pressure on the pepper prices at futures market.
