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Pepper prices declined by 0.80 per cent to Rs 42,550 per quintal in futures trade today after speculators reduced positions amid a weak domestic as well as overseas demand.
At the National Commodity and Derivatives Exchange,pepper for delivery in October fell sharply by Rs 345,or 0.80 per cent,to Rs 42,550 per quintal,with an open interest of 5,846 lots.
Similarly,the spice for delivery in September lost Rs 255,or 0.61 per cent,to Rs 41,500 per quintal,with an open interest of 706 lots.
Marketmen said fall in domestic as well as export demand at prevailing higher levels and improved rains in growing regions,weighed on the pepper futures prices here.