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Pepper declines on profit-booking

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Press Trust of India New Delhi

Pepper prices declined by Rs 197 to Rs 34,720 per quintal in futures trade today as speculators booked-profits at existing higher levels on fall in demand in the spot market.

At the National Commodity and Derivatives Exchange, October pepper declined by Rs 197, or 0.56% to Rs 34,720 per quintal with an open interest of 8971 lots.

The September contract traded lower by Rs 81, or 0.24% to Rs 33,850 per quintal in a business turnover of 2113 lots.

Market analysts said besides profit-booking by speculators, fall in demand in the spot market mainly led to the decline in pepper futures prices.

 

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First Published: Sep 15 2011 | 2:20 PM IST

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