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G.K. Nair

Kochi, Aug. 16 Pepper futures market continued to decline on bearish activities as similar sentiments are said to be prevailing in the other origins because of the harvesting in Indonesia and in certain regions of Brazil.

Besides, some selling pressure on the futures has also contributed to the decline. In the overseas market buyers are anticipating that the prices would decline further.

Short-term selling pressure in Brazil is pointed out as the reason for the reduction in price there. However, a reportedly weak crop in Vietnam this year might push up the prices in the later part of the year.

August contract on NCDEX dropped by Rs 103 a quintal on Thursday to Rs 13,011 from Rs 13,114. The fall in other contracts was from Rs 138 to Rs 213 a quintal.

Spot prices in tandem with the futures market trend fell by Rs 100 a quintal to close at Rs 12,800 (un-garbled) and Rs 13,400 (MG 1) on Thursday.

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