Commodity Online MUMBAI: Pepper futures declined after opening with firm note on Friday following the selling by traders because of sluggish export and domestic demand.
NCDEX Pepper futures July contract opened the session with firm note at Rs 12500 as against the last close Rs 12486 per 100 kg on Thursday. The contract had dropped to the session low of Rs 12450 per 100 kg.
The counter currently quoted near the session low at Rs 12459, down Rs 27 from the last close and the open interest in the contract dropped 0.89 percent to 4,460 lots from 4,500 lots.
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Spot prices in the Kochi market fell 58.7 rupees to 12,600.45 rupees per 100 kg. Now support for the pepper is seen at 12417 and below could see a test of 12338. Resistance is now likely to be seen at 12557, a move above could see prices testing 12618
