Pepper prices fell further by 1.33 per cent to close at Rs 43,450 per quintal in futures trading today as speculators engaged in reducing positions, driven by muted demand in the spot market.
Moreover, ample stocks position on increased supplies from major growing regions, weighed on prices.
At the National Commodity and Derivatives Exchange, pepper for delivery in October plunged by Rs 585, or 1.33 per cent, to close at Rs 43,450 per quintal, with an open interest of 104 lots.
Similarly, the spice for delivery in the November traded lower by Rs 305, or 0.69 per cent, to finish at Rs 43,590 per quintal in 7 lots.
Market analysts said, offloading of positions by participants owing to slackened demand at prevailing rates in the physical market against adequate stocks position on increased arrivals from producing regions, mainly kept pepper prices down at futures trade.
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