MUMBAI, Feb 12 (Reuters) - India pepper futures closed lower on Thursday on weak domestic demand and low export orders, analysts said.
"Prices would drop to touch 10,800 by next session because of weak fundamental factors," said Veeresh Hiremath, an analyst with Karvy Comtrade.
But fears of a fall in output from Kerala, the largest producer, limited the downside, analysts said.
Traders are worried about export demand flowing to Vietnam due to the cheaper prices it offers, said Alimuhammad Lakdawala, an analyst with Anand Rathi Commodities, adding "prices should tank to 10,600 in the short term."
Spot prices in the Kochi market fell by about 150 rupees to 11,566.55 rupees per 100 kg.
Source : REUTERS INDIA