Kochi: Pepper futures market continued its sharp decline on Aug 28, on alleged market manipulations by bear-cartels. The futures prices have declined by Rs 7 to Rs 10 a kg below the spot and it gives the impression that the price risk management and the price discovery system seems to have gone haywire. Indonesia has brought down the prices of its L Asta to $3,150 a tonne (f.o.b.) and Brazil was offering B Asta at $3,250-$3,300 a tonne (f.o.b). Indian parity on Aug 28, was $3,250-$3,300 a tonne (c&f). September contract, on NCDEX, on Aug 28, declined by Rs 202 a quintal to close at Rs 11,680 from Rs 11,882 on Aug 27. Spot market remained closed on account of Sree Narayana Guru Jayanti. Spot prices at last closing were at Rs 12,100 (un-garbled) and Rs 12,700 (MG 1).
Source : www.indian-commodity.com
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