Pepper prices dipped by Rs 674 to Rs 30,270 per quintal in futures trade today as speculators reduced their positions on sluggish spot market demand.
At the National Commodity and Derivatives Exchange, pepper for delivery in September fell by Rs 674, or 2.18% to Rs 30,270 per quintal, with an open interest of 93 lots.
Similarly, the spice for delivery in June declined by Rs 178, or 0.60% to Rs 29,692 per quintal, with an open interest of 15,237 lots.
Analysts said reduced offtake by traders on sluggish demand in the spot market mainly pulled down pepper prices at futures trade.
They added that weak export demand at prevailing high levels also dampened the trading sentiments.
