Pepper prices today erased Rs 145 to Rs 37,960 per quintal in futures trade, as speculators reduced their holdings on the back of a weak export demand.
At the National Commodity and Derivatives Exchange, pepper for delivery in May declined by Rs 145, or 0.38%, to Rs 37,960 per quintal, with an open interest of 4,823 lots.
The June contract lost Rs 145, or 0.37%, to Rs 38,600 per quintal in 744 lots.
Analysts said speculators offloaded their positions on the back of weak export demand as prices of the Indian product were higher in the international market. This mainly kept pressure on the pepper prices at futures trade here.
