Pepper Future Mkt Declines

Kochi: The pepper futures market on July 27, declined on bearish activities, while the fundamentals remained unchanged. Spot sellers were limited at lower levels as the futures market continued its falling trend. The market is totally in the hands of intra-day traders who are pushing it up and down. Reports that Vietnam has decreased its prices have also contributed to the decline in the futures. Vietnam was offering Asta grade at $3,800 a tonne (f.o.b) while Brazil was quoting B Asta at $3,800 - $3,900 (f.o.b). Strengthening of dollar on July 27 has made the Indian prices advantageous. Spot prices in tandem with the futures market trend declined by Rs 200 a quintal on Friday to close at Rs 13,800 (un-garbled) and Rs 14,400 (MG 1).