Pepper prices closed lower by 0.55 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the investors reduced their positions in the commodity in the midst of a weak export and domestic demand. At the NCDEX, pepper futures for July 2012 contract closed at Rs. 41,010 per quintal, down by 0.55 per cent, after opening at Rs. 41,200 against the previous closing price of Rs. 41,235. It touched the intra-day low of Rs. 41,000.
However, losses were limited as the Indian pepper output during the new crop season in 2012 is estimated to be around 43,000 tonnes, which is lower by around 5,000 tonnes than the previous crop of 48,000 tonnes.