PTI

Pepper reacts to profit-taking in futures trade

Wed, Nov 4 02:05 PM

New Delhi, Nov 4 (PTI) After recording hefty gains of almost 8 per cent in the past sessions, pepper futures prices turned weak and prices fell up to 1.16 per cent as traders preferred to book profits. However, tight stocks positions and strong domestic demand, restricted losses.

Pepper for delivery in November contract traded 1.16 per cent down at Rs 15,209 per quintal with an open interest in 4,779 lots at the NCDEX counters, while delivery in December contract drifted by 1.16 per cent at Rs 15,390 per quintal in an open interest in 5,331 lots. Market analysts said besides profit-taking at higher levels by speculators, lower rates of the Brazil crop in the global markets also put pressure on pepper prices at futures market here.

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