Pepper futures prices decline 0.79%

Pepper prices fell by Rs 335 to Rs 42,110 per quintal in futures market today.

Written by Agencies | New Delhi | Published:October 17, 2012 3:50 pm

Pepper prices fell by Rs 335 to Rs 42,110 per quintal in futures market today as speculators trimmed positions on sluggish demand at higher levels.

Reports of higher output on adequate late monsoon rains in growing areas also influenced the trading sentiment.

At the National Commodity and Derivatives Exchange,pepper or delivery in December declined by Rs 335,or 0.79 per cent,to Rs 42,110 per quintal with an open interest of 1540 lots.

Similarly,the spice for delivery in November contract lost Rs 135,or 0.32 per cent to Rs 42,650 per quintal in 4988 lots.

Market analysts said speculators offloaded their positions on the back of sluggish export demand at prevailing higher levels.

They said reports of higher output following adequate late monsoon rains in growing areas of southern region also helped in pulling down the prices.

For all the latest News Archive News, download Indian Express App

    Live Cricket Scores & Results