Pepper futures fall on subdued spot demand

Pepper fell sharply by Rs 448 to Rs 22,100 per quintal in futures trade today as speculators reduced their positions, triggered by subdued spot and export demand.

At the National Commodity and Derivatives Exchange, pepper for delivery in far-month March fell by Rs 448, or 1.99 per cent to Rs 22,100 per quintal with an open interest of 135 lots.

Similarly, the spice for delivery in November month declined by Rs 198, or 0.93 per cent to Rs 21,000 per quintal in 3,274 lots.

It ended 2.25 per cent down at Rs 21,198 per quintal in the previous session.

Analysts said fall in pepper prices was mostly attributed to off-loading by speculators following subdued domestic demand. 

Besides, weak export demand due to higher prices of the Indian produce in global markets also weighed heavy, they said.