Pepper Future Declines On Selling Pressure

Kochi: Pepper futures market on July 26, saw a sharp decline on selling pressure and on reports that Vietnam had eased its price for FAQ 500 GL to $3,350 a tonne (fob). There was selling pressure of un-garbled pepper. Spot selling picked up and 150 tonne spot pepper were traded on July 25, while 85 tonnes on July 26. The delayed action by the Forward Markets Commission to raise the near month level limit for members to 500 tonnes and clients to 170 tonnes also alleged to have had its negative impact on the market. A time bound action is needed from the regulator. In the international market, Brazil prices moved up on July 25, but it did not influence the Vietnam prices. Vietnam Asta was quoted at $3,800-$3,850 a tonne (fob). Spot prices on selling pressure fell by Rs 100 a quintal on Thursday to close at Rs 14,000 (un-garbled) and Rs 14,600 (MG 1).