Pepper Futures Decline Sharply

Kochi: Pepper futures market, which has been on the upward run, declined sharply on Oct 30, despite reports that the world availability next year would be lower by 55,000 tonnes. Indonesia was offering L Asta at $3,800-3,850 a tonne (fob) and Brazil at $3,700 a tonne (f.o.b.). November contract on NCDEX on Oct 30, declined by Rs 543 a quintal to close at Rs 14,956 from Rs 15,499 on Oct 29. The decline in other contracts was from Rs 481 to Rs 605 a quintal. Spot prices on purchasing support ruled steady at previous levels of Rs 14,600 (un-garbled) and Rs 15,200 a quintal on Oct 30.