Mumbai, April 2 (CommoditiesControl): Domestic pepper prices in major markets continued to show upward trend, witnessing a rise of Rs 200 per quintal. This surge marks an increase of Rs 3,000 per quintal from recent lows. Despite stable prices in Vietnam, lower export demand coupled with harvesting pressure exerted downward pressure on prices. However, robust demand at lower price levels supported the domestic pepper market.
In Cochin, garbled pepper prices reached Rs 55,000 per quintal, while ungarbled peppers were priced at Rs 53,000 per quintal. Similarly, in Karnataka, prices ranged from Rs 53,000 to Rs 55,000 per quintal.
Meanwhile, the Ministry of Commerce released EXIM figures for January, indicating a 42% increase in exports, totaling 1,770 MT. This surge was driven by stronger imports from the United States and the European Union. However, from April to January, exports witnessed a 9.0% decrease compared to the prior year, totaling 13,627 MT. Imports stood at 2,660 MT, with a significant portion coming from Sri Lanka.
In Vietnam, pepper prices remained stable in the range of VND 92,500 and 95,000 per kilogram. Prices are anticipated to remain under pressure as arrivals peak. Global FOB prices showed stability to weakness, with Indonesia experiencing a marginal decline while other origins remained steady.
Domestic Quotes (INR/Qtl):
- Kochi (Ungarbled): 53,000
- Kochi (Garbled): 55,000
- Kushalnagar: 53,000-55,000
- Chikamagalore: 52,800-54,800
FOB Quotes - Black Pepper (USD/MT):
- Brazil ASTA: 4,450
- Vietnam 500gl: 4,200
- Vietnam 550gl: 4,300
- Indonesia ASTA: 4,442
- Malaysia (Ringgit/MT): 4,900
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