Pepper futures down 0.50% on profit-taking

Pepper prices moved down by Rs. 118 to Rs. 23,250 per quintal in futures trading on Friday on emergence of profit-taking by speculators, driven by weak trend at spot market.

At the National Commodity and Derivatives Exchange, pepper for delivery in May fell by Rs. 118, or 0.50 per cent, to Rs. 23,250 per quintal, with an open interest of 523 lots.

Likewise, the spice for delivery in March lost Rs. 98, or 0.43 per cent, to Rs. 22,670 per quintal in 8,294 lots. Analysts said profit-taking by speculators amid subdued demand in the spot market, mainly led to the decline in pepper futures prices.

(Source: http://www.indianexpress.com/news/Pepper-futures-down-0-50--on-profit-taking/757796)