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G.K. Nair

Kochi, July 19 Pepper futures market bounced back on Thursday on bullish activities following exporters started buying spot at seller-demanded prices.

About 75 tonnes of spot pepper were traded at Rs 139-145 a kg. Meanwhile, concerted efforts from European operators are said to be trying to push the prices down by spreading rumours that Vietnam prices have declined.

According to latest information available from overseas markets, Vietnam was offering 500 GL at $3,450 a tonne (f.o.b) and 550 GL at $3,600, and V Asta at $4,150.

Brazil is said to have quoted B Asta at $3,850, and Indonesia is said to have quoted L Asta at $4,200.

However, those probably holding stocks in Singapore said to have quoted L Asta at $3,950.

Indian parity for Asta grade continued to remain competitive at $4,000-4,050 a tonne (c&f), market sources told Business Line.

Spot prices on buying support moved up by Rs 200 a quintal on Thursday to close at Rs 14,100 (un-garbled) and Rs 14,700 (MG 1).

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