Mumbai, March 01 (Commodities Control): Domestic pepper prices in major markets have experienced a decline of Rs 500-600 per quintal, reversing the stable trend observed over the previous two sessions. This marks a reduction of Rs 7,500-8,000 per quintal from the peak prices reached last month. In Cochin, garbled pepper prices were reported at Rs 53,500 per quintal, while ungarbled peppers were priced at Rs 51,500.
In Karnataka, pepper prices ranged from Rs 51,600 to Rs 53,800 per quintal. The decrease in domestic prices is attributed to an increase in output coupled with lower export inquiries. The anticipated Indian pepper production for the current season is expected to reach 70,000 tons, representing a 3,000-ton increase from the previous season.
In Vietnam, major market prices witnessed a decline of VND 500-1,500 per kg, ranging from VND 92,000 to VND 93,500 per kg, after a previous day's increase. The expected decrease in Vietnamese production is contributing to the support of domestic pepper prices. Vietnam is projected to produce 170,000 tons in 2024, reflecting a 10.5% decrease from the previous year.
Global FOB prices showed a mixed trend, with Brazil experiencing a slight increase due to strong demand and Indonesia witnessing a decline.
Domestic Quotes (INR/Qtl):
- Kochi Ungarbled: 52,000
- Kochi Garbled: 54,000
- Kushalnagar: 52,200-54,500
- Chikamagalore: 52,000-54,500
FOB Quotes - Black Pepper:
- Brazil ASTA (USD/MT): 4,400
- Vietnam 500gl (USD/MT): 3,900
- Vietnam 550gl (USD/MT): 4,000
- Indonesia ASTA (USD/MT): 3,896
- Malaysia (Ringgit/MT): 4,900
(By CommoditiesControl Bureau; +91-9820130172)
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