Pepper succumbs to profit taking; down 0.14%

Amid profit-booking by speculators, pepper futures prices fell by Rs 33 to Rs 23,370 per quintal today.

However, hopes of a likely delay in fresh arrivals in the market due to unseasonal rains in October-December and poor supplies, capped losses.

At the National Commodity and Derivatives Exchange counter, pepper for delivery in January traded Rs 33, or 0.14 per cent lower, at Rs 23,370 per quintal, with an open interest of 9,682 lots. 

Likewise, the spice for delivery in February declined by Rs 21, or 0.09 per cent, to Rs 23,626 per quintal, with a business turnover of 3,165 lots. 

Marketmen said emergence of profit-booking by speculators, led to a decline in pepper futures prices but hopes of a likely delay in fresh arrivals in the market due to unseasonal rains in October-December at producing regions and poor supplies, capped losses.