Pepper Futures Mkt Decline Sharply

Kochi: Pepper futures market declined sharply on Aug 1, on liquidation by operators holding long positions following the sharp decline in the stock market. Add to this, bear operators were spreading rumours that the prices of pepper in Vietnam had declined. The futures market is falling without any link to the ground realities. Some exporters had offered MG 1 to US market at $3,750 a tonne (c&f) when the Indian parity was at $3,800 a tonne (c&f). Spot prices declined by Rs 100 a quintal on Aug 1, to close at Rs 13,500 (un-garbled) and Rs 14,100 (MG 1).