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G.K. Nair

Kochi, Aug. 1

Pepper futures market fell sharply on Wednesday on liquidation by operators holding long positions following the sharp fall in the stock market.

Add to this, bear operators were spreading rumours that the prices of pepper in Vietnam had dropped. The futures market is falling without any link to the ground realities, market observers told Business Line.

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 dropped by Rs 100 a quintal on Wednesday to close at Rs 13,500 (un-garbled) and Rs 14,100 (MG 1).

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