Pepper prices fell by Rs 518 to Rs 29,100 per quintal at the futures trade today as speculators reduced their positions amid weak export demand.
At the National Commodity and Derivatives Exchange counter, pepper for delivery in September fell by Rs 518 or 1.75 per cent to Rs 29,100 per quintal with an open interest of 127 lots. Similarly, July contract lost Rs 130 or 0.44 per cent to Rs 29,092 per quintal with a business turnover of 4,572 lots.
Analysts said reducing of positions by speculators on weak export demand mainly led to the fall in pepper futures prices.