Mumbai, May 20 (Commodities Control): Pepper prices in the domestic market have remained stable after a sharp increase driven by strong demand. The stability in domestic prices is supported by the rising prices of Vietnamese pepper, despite annual increases in crop yields.
In Cochin, garbled pepper is priced at Rs 60,000 per quintal, while ungarbled pepper costs Rs 58,000 per quintal. In Karnataka, prices range between Rs 57,800 and Rs 60,200 per quintal.
Vietnamese pepper prices have continued their upward trend, rising by VND 1,000-2,000 per kilogram and setting new record highs. In major provinces, prices range from VND 111,000 to 113,000 per kilogram. Year-on-year, Vietnamese pepper prices have surged by 75%, reaching near-record levels. Despite this increase, global Free on Board (FOB) prices have been mostly stable across different origins.
The increase in Vietnamese pepper prices is attributed to reduced production in Vietnam and Brazil, which is boosting spot market prices. Vietnam's production levels are expected to remain lower than in the past five years, which will continue to support global market prices.
Domestic Pepper Prices (INR/Qtl)
- Kochi: Ungarbled: Rs 58,000; Garbled: Rs 60,000
- Kushalnagar: Rs 57,800 - Rs 60,000
- Chikamagalur: Rs 58,000 - Rs 60,200
FOB Quotes - Black Pepper:
- Brazil ASTA: USD 5,000 per metric ton
- Vietnam 500gl: USD 4,600 per metric ton
- Vietnam 550gl: USD 4,700 per metric ton
- Indonesia ASTA: USD 4,934 per metric ton
- Malaysia: Ringgit 4,900 per metric ton
(By CommoditiesControl Bureau: +91-9820130172)
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