Pepper futures down on weak export demand

Pepper futures prices fell by Rs 112 to Rs 23,410 per quintal today on adequate stocks following fresh arrival from producing region amid weak exports demand.

At the National Commodity and Derivatives Exchange, pepper for April month fell by Rs 112, or 0.48 per cent to Rs 23,410 per quintal with an open interest of 276 lots.

Similarly, the spice for delivery in March lost Rs 15, or 0.06 per cent, to Rs 23,150 per quintal, with a trade volume in 863 lots.

Market analysts said adequate stocks due to fresh crop arrival in the physical markets against weak export demand led to decline in pepper prices at futures trade.