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Pepper futures prices fell by 0.57 per cent to Rs 23,175 a quintal on Monday but tight stocks from major producing countries restricted the losses.
At the National Commodity and Derivatives Exchange counter, pepper for delivery in March contract fell by Rs 132 or 0.57 per cent to Rs 23,175 a quintal, with an open interest of 731 lots.
The spice for delivery in January also dipped by Rs 112 or 0.50 per cent to Rs 22,449 a quintal, with an open interest of 2,442 lots.
Marketmen said profit-booking by speculators led to the decline in futures prices but tight supplies in the open market limited losses.
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