Mumbai, May 7 (Commodities Control): Domestic pepper prices in major markets have witnessed a robust increase for the second consecutive session, soaring by Rs 200 per quintal, fueled by increased demand. Market observers attribute this surge to heightened activity among stockists and an upsurge in export inquiries, both of which are exerting upward pressure on prices. Moreover, the escalating global pepper prices are further propelling the surge in the domestic market. Notably, Vietnam's pepper prices have achieved a new record high.
In Cochin, garbled pepper is commanding a price tag of Rs 59,900 per quintal, while ungarbled pepper is priced at Rs 57,900. Meanwhile, in Karnataka, pepper prices are ranging from Rs 57,700 to Rs 60,000 per quintal.
Vietnam's pepper market, on the other hand, is reported to be stable, with prices hovering between VND 103,000 and 104,000 per kilogram. This stability comes amidst a significant year-on-year increase of 65%, attributed to reduced output and a tighter balance resulting from aggressive exports. Market analysts anticipate a production decline of 10-12% year-on-year in Vietnam.
Globally, free on board (FOB) prices experienced a notable surge in Brazil, while prices in other key centers remained relatively stable.
Domestic Quotes (INR/Qtl)
- Kochi:
- Ungarbled: 57,900
- Garbled: 59,900
- Kushalnagar: 57,700-60,000
- Chikamagalore: 57,800-60,000
FOB Quotes - Black Pepper
- Brazil ASTA: (USD/MT) 4,900
- Vietnam 500gl: (USD/MT) 4,400
- Vietnam 550gl: (USD/MT) 4,500
- Indonesia ASTA: (USD/MT) 4,911
- Malaysia: (Ringgit/MT) 4,900
(By CommoditiesControl Bureau: +91-9820130172)
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