Mumbai, May 17 (Commodities Control): Pepper prices in both domestic and Vietnamese markets continued to show upward trend today, driven by robust demand and record-setting prices in Vietnam.
In the domestic market, prices have risen by Rs 400-500 per quintal, bolstered by increased interest from buyers. In Karnataka, prices have reportedly increased by Rs 300-400 per quintal, reflecting the strong market sentiment.
In Cochin, garbled pepper remains stable at Rs 60,000 per quintal, while ungarbled pepper is priced at Rs 58,000 per quintal. In Karnataka, pepper prices ranged from Rs 57,800 to Rs 60,200 per quintal, indicating a consistent rise across different markets.
Vietnamese pepper prices have reached new heights, with a further increase of VND 4,000-5,000 per kilogram. Prices in key Vietnamese provinces now range between VND 110,000 and 112,000 per kilogram, marking a 75% increase year on year. This surge is attributed to decreased production in Vietnam, which is expected to remain below the average of the past five years, and in Brazil, supporting the global market prices.
Global Free on Board (FOB) prices are mostly stable, with Brazil ASTA priced at USD 5,000 per metric ton, Vietnam 500gl at USD 4,600 per metric ton, Vietnam 550gl at USD 4,700 per metric ton, Indonesia ASTA at USD 4,934 per metric ton, and Malaysia at Ringgit 4,900 per metric ton.
(By Commoditiescontrol Bureau: +91 9820130172)
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