Mumbai, March 14 (Commoditiescontrol): Domestic pepper prices in major markets have witnessed a notable recovery, marking an increase of Rs 400-500 per quintal following a sharp decline over the past one and a half months.
Despite this recent uptick, prices have still undergone a significant decrease of nearly Rs 18,000–20,000 per quintal from their peak levels. The surge in prices is attributed to robust demand at lower price levels, coupled with sustained elevated global prices, which are expected to provide support in the near term.
In Cochin, garbled pepper prices are reported at Rs 52,600 per quintal, while ungarbled peppers are priced at Rs 50,600. Meanwhile, pepper prices in Karnataka range between Rs 50,800 and Rs 52,800 per quintal.
Conversely, pepper prices in Vietnam have remained stable for the second consecutive session, ranging from VND 92,000 to VND 95,000 per kg, following a notable increase the previous week. Year-on-year, prices are higher by 35%. Vietnam is projected to produce 170,000 tons in 2024, reflecting a 10.5% decrease from the previous year. High demand, coupled with lower-than-expected production, has contributed to bolstering prices, supported by limited inventories both in upcountry and port warehouses.
Global FOB prices have maintained stability after experiencing a significant increase across most major origins.
Domestic Quotes (INR/Qtl):
- Kochi: Ungarbled 50,600, Garbled 52,600
- Kushalnagar: 50,500-52,500
- Chikamagalore: 50,400-52,300
FOB Quotes - Black Pepper (USD/MT):
- Brazil ASTA: 4,400
- Vietnam 500gl: 4,100
- Vietnam 550gl: 4,200
- Indonesia ASTA: 4,180
- Malaysia: 4,900 (Ringgit/MT)
(By CommoditiesControl Bureau; +91-9820130172)
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