Pepper prices tumbled by Rs 1,165 to Rs 41,860 per quintal in futures trading today as speculators booked profits, driven by fall in demand at existing higher levels in the market.
However, reports of drop in output in growing areas limited losses.
At the National Commodity and Derivatives Exchange, pepper for delivery in March plunged by Rs 1,165, or 2.71%, to Rs 41,860 per quintal, with an open interest of 3,062 lots.
April pepper shed 1,080, or 2.47%, to Rs 42,670 per quintal, with an open interest of 5,871 lots.
Analysts said profit booking by speculators, driven by fall in demand at prevailing higher levels in the spot market, mainly pulled down pepper prices at futures trade.
