Pepper Future Mkt Declines

Kochi: Indian pepper futures market declined on Aug 3, on concerted bearish activities despite the fundamentals in the world market remained unchanged. Cell calls spreading messages that the prices would decline sharply said to have created strong bearish sentiments in the players and as a result, long operators liquidated. Meanwhile, Indian pepper continued to remain competitive in the world market. Vietnam was reportedly offering Asta grade New York at $3,950 (c&f) a tonne as against the price for MG 1 at $3,800-3,825 a tonne (c&f). B Asta was offered at $3,750 (f.o.b.) while MLSV Asta spot was offered at $4,000-4,100 a tonne. Vietnam has quoted 500 GL at $3,350 a tonne (f.o.b.) while 550 GL at $3,500 a tonne (f.o.b.). On Aug 3, Muntok white and Vietnam white were being offered at $5,000-5,050 and $5,400 a tonne respectively.