An FEP pellet having a volatile content of 0.2% by weight or less. The FEP pellet satisfies the following requirements (i) and (ii) when used to form a insulating material coating a core wire by extrusion coating at a coating speed of 2,800 ft/min.: (i) an adhesive strength between the insulating material and said core wire of 0.8 kg or more; and (ii) an average number of cone-breaks in the insulating material of one or less per 50,000 feet of the coated core wire.