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Pepper falls 1.6% on profit-booking

Sluggish demand influences prices

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Press Trust of India New Delhi

Pepper prices fell by Rs 700 to Rs 42,300 per quintal in futures trade today as speculators booked profits at prevailing higher levels, driven by a weak spot market trend on sluggish demand.

At the National Commodity and Derivatives Exchange, pepper for delivery in November fell by Rs 700, or 1.63%, to Rs 42,300 per quintal, with an open interest of 708 lots.

October pepper moved down by Rs 630, or 1.46%, to Rs 42,660 per quintal, with an open interest of 5,510 lots.

Marketmen said profit-booking by speculators at prevailing higher levels amid sluggish demand in the spot market kept pressure on pepper prices at futures trade.

 

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First Published: Sep 24 2012 | 2:55 PM IST

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