India pepper ends down on rains, weak export demand

MUMBAI, July 3 (Reuters) - India pepper futures ended down nearly two percent as reports of sufficient rains in growing regions and weak export demand weighed on sentiment, analysts said.

"Export demand is slow as Indian rates are higher and not competitive in the international market. Also there is good rainfall in growing districts so that is easing concerns about the crop next season," said an analyst with a Delhi-based brokerage.

Indian rates are higher than ones quoted by Vietnam and Indonesia and so export demand is weak, said Kunal Shah, an analyst with Nirmal Bang Commodities Ltd.

Pepper exports in the first two months of the current fiscal fell 46 percent to 3,000 tonnes compared to a year ago.

However, losses will be limited as domestic demand continued to be firm due to low stocks, analysts said.

Spot prices in the Kochi market rose by over 35 rupees to 12,636.35 rupees per 100 kg. Following are the closing prices of pepper futures in rupees per 100 kg on the National Commodity and Derivatives Exchange Ltd. <0#NPE:> Contract Reuters code Price Change in %

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July NPEN9 12,255 -1.85

August NPEQ9 12,406 -1.80

(Reporting by Nandita Bose; Editing by Sunil Nair)