Pepper prices declined by 0.24% to Rs 44,500 per quintal in futures trade today as speculators engaged in booking profits amid subdued export demand at prevailing higher prices.
Thin supplies in the spot markets and lower output concerns due to deficient rains in major producing regions restricted the fall.
At the National Commodity and Derivatives Exchange, pepper for delivery in August fell by Rs 105, or 0.24%, to Rs 44,500 per quintal, with an open interest of 839 lots.
September pepper lost Rs 60, or 0.14%, to Rs 43,550 per quintal, with an open interest of 4,471 lots.
Marketmen said continued profit-booking by speculators after recent gains and reports of lower exports led to the fall in pepper futures prices.
Exports declined as the Indian product failed to find buyers at current levels in overseas markets.
However, thin supplies in the market and deficient rains in key growing regions, which could hurt output, capped losses, they said.
