Domestic Pepper Prices Ascend; Moderate Rise in Vietnamese Prices

Mumbai, April 25 (Commoditiescontrol): Pepper prices in major domestic markets continued their upward trend, driven by robust demand, increasing global prices, and tightening supply. Market participants note a surge in stockist and export inquiries over the past week, providing strong support to prices. However, given the substantial recovery of nearly Rs 16,000-18,000 per quintal over the last fortnight, further increases are expected to be limited.

In domestic markets, pepper prices witnessed a rise of Rs 400 per quintal. Garbled pepper in Cochin was priced at Rs 58,400 per quintal, while ungarbled pepper stood at Rs 56,400. In Karnataka, prices ranged from Rs 56,400 to Rs 58,500 per quintal.

Meanwhile, pepper prices in Vietnam saw a slight increase of VND 500-1,000 per kg after reaching a record high, attributed to decreased purchasing activity. Prices were reported between VND 96,500 and 98,000 per kg. Notably, Vietnamese prices have surged by 60% year on year due to lower output and a tighter balance resulting from aggressive exports. Global FOB prices remained stable.