Pepper futures fall 0.59% on fresh arrivals

Pepper futures prices fell by 0.59 per cent to Rs 23,211 per quintal today due to fresh arrivals in the spot markets and subdued overseas demand.

At the National Commodity and Derivatives Exchange, pepper for delivery in April fell by Rs 138, or 0.59 per cent, to Rs 23,211 per quintal, with an open interest of 398 lots.

The spice for delivery in February also shed Rs 23, or 0.10 per cent, to Rs 22,490 per quintal, with an open interest of 9,439 lots.

It fell by Rs 1.84 per cent to Rs 22,513 per quintal in the previous session.

Market analysts said adequate stocks in the spot markets following arrivals of fresh crop, though in small qualtiities, and subdued demand in overseas market, mainly weighed on the pepper futures prices here.