Pepper prices tumbled by Rs 405, or 2.01 per cent, to Rs 19,700 per quintal in futures market today, as speculators booked profits at existing higher levels on fall in demand at spot markets.
At the National Commodity and Derivatives Exchange counter, pepper for November tumbled by Rs 405, or 2.01 per cent, to Rs 19,700 per quintal, with an open interest of 243 lots.
Similarly, the spice for delivery in August-month fell by Rs 133, or 0.69 per cent, to Rs 19,102 per quintal, with an open volume of 9,063 lots.
Analysts attributed the fall in pepper prices in futures trade to profit booking at existing higher levels, driven by a fall in demand in the spot market.
