India pepper futures end lower amid lack of demand
MUMBAI, May 7 (Reuters) - India's pepper futures ended down on the National Commodity & Derivatives Exchange Ltd (NCDEX) on Wednesday on low physical demand and weak price cues from Vietnam, analysts said.
"Pepper futures are oscillating in a range," said Faiyaz Hudani, analyst at Kotak Commodity Services Ltd.
"There is a lack of demand in the world market as buyers are waiting for lower prices," he added.
Vietnam, which is in the midst of its harvest season, lowered prices, triggering off a similar fall in local markets, despite the production season being nearly over, analysts said.
"The weak trend may continue in the near term," said Shardul Sharma, analyst at Sharekhan Commodities Pvt Ltd.
Open interest for the benchmark June pepper was at 9,701 lots, up from 9,332 on the previous day.
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 Closing price Change in %
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