Pepper prices dropped by Rs 235 to Rs 40,200 per quintal in futures trade today after speculators reduced their positions amid weak export demand.
However, dwindling stocks following thin supplies in the domestic market and lower output estimates, restricted fall.
At the National Commodity and Derivatives Exchange, pepper for delivery in June fell by Rs 235, or 0.58%, to Rs 40,200 per quintal, with an open interest of 1,184 lots.
The July contract traded lower by Rs 100, or 0.25%, to Rs 40,215 per quintal in 3,090 lots.
Analysts said weak export enquiries, as Indian product prices are higher than its rivals such as Brazil and Indonesia in the overseas markets, mainly put pressure on the pepper futures prices here but tight supplies limited the losses.
