Pepper futures prices tumbled by 3% in futures trade today as speculators indulged in reducing their positions amid weak export demand.
At the National Commodity and Derivatives Exchange, pepper for delivery in July fell sharply by Rs 914, or 3%, to Rs 29,580 per quintal, with a turnover of 7,219 lots.
Similarly, the spice for delivery in August plunged by Rs 912, or 3%, to Rs 29,513 per quintal, with a business turnover of 3,072 lots.
Analysts said offloading of positions by speculators, driven by a weak export demand mainly led to the decline in pepper futures prices.
