Pepper futures succumb to profit booking

Pepper fell sharply by Rs 272 to Rs 22,140 per quintal in futures trade today, as speculators preferred to book profits at prevailing levels.

However, squeeze in supplies in the spot market capped losses.

At the National Commodity and Derivatives Exchange platform, pepper for delivery in February fell by Rs 272, or 1.21 per cent to Rs 22,140 per quintal, with an open interest of 604 lots.

Similarly, the spice for delivery in Janaury declined by Rs 249, or 1.12 per cent to Rs 21,931 per quintal, with a business turnover of 9,555 lots, while current-month December delivery slipped by Rs 231 or 1.06 per cent to Rs 21,575 per quintal, with an open interest of 3,338 lots.

Analysts said fall in pepper prices was attributed to profit booking by speculators after gains in the previous session but squeeze in supplies, restricted losses at spot market.