Pepper prices moved down by Rs 354 to Rs 29,870 per quintal in futures trade today as speculators booked profits amid a weak spot market trend.
At the National Commodity and Derivatives Exchange, pepper for September delivery fell sharply by Rs 354, or 1.17%, to Rs 29,870 per quintal, with an open interest of 3,135 lots.
Similarly, the spice for August delivery lost Rs 331, or 1.12%, to Rs 29,347 per quintal, with a business volume of 10,619 lots.
In yesterday's trade, the spice had gained 0.27% to Rs 29,678 per quintal. Analysts said profit-booking by speculators along with subdued spot market demand mainly pulled down pepper futures prices.
