Mumbai, May 13 (Commodities Control): Both domestic and Vietnamese pepper markets experienced a decline in prices, influenced by factors such as reduced demand at higher price levels and a mixed outlook for global production.
Domestically, pepper prices retreated from recent highs, primarily due to subdued demand amidst elevated price levels. However, a significant downturn is unlikely, given reports of weaker global production, except in India, where production is anticipated to remain robust.
In Cochin, garbled pepper prices remained stable at Rs 59,800 per quintal, while ungarbled pepper was quoted at Rs 57,800 per quintal. Pepper prices in Karnataka fluctuated between Rs 57,800 and Rs 60,000 per quintal.
Lower exports to China in April have exerted downward pressure on Vietnamese pepper prices, resulting in a decline of VND 1,000 per kilogram. Prices in Vietnam ranged between VND 100,000 and 102,000 per kilogram. Nevertheless, prices in Vietnam have surged by 65% year-on-year, nearing record highs, amid a generally firm global market. Global Free on Board (FOB) prices remained stable across all major centers.
Domestic Quotes (INR/Qtl)
- Kochi: Ungarbled Pepper - Rs 57,800
- Garbled Pepper - Rs 59,800
- Kushalnagar: Rs 58,000-60,000
- Chikmagalur: Rs 57,800-60,000
FOB Quotes - Black Pepper
- Brazil ASTA: USD 4,900 per MT
- Vietnam 500gl: USD 4,600 per MT
- Vietnam 550gl: USD 4,700 per MT
- Indonesia ASTA: USD 4,902 per MT
- Malaysia: RM 4,900 per MT
(By CommoditiesControl Bureau: +91-9820130172)
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