Pepper prices drifted lower by Rs 715, or 1.68 per cent, to close at Rs 41,820 per quintal at the futures market today as speculators trimmed positions, tracking subdued demand at the spot market.
Higher supplies at the physical markets from major growing regions also weighed on prices.
At the National Commodity and Derivatives Exchange, pepper for delivery in the current month declined Rs 715, or 1.68 per cent, to close at Rs 41,820 per quintal, with an open interest of 34 lots.
Market analysts said offloading of positions by traders, triggered by fall in demand at the domestic spot markets against adequate stocks position on increased supplies, mainly kept pressure on pepper prices in futures trade.
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