New Delhi, Feb 15 (Commoditiescontrol): Domestic pepper prices in major markets have reportedly decreased by Rs 200 per quintal due to sluggish demand. Prices have witnessed a decline of Rs 5,500-6,000 per quintal since reaching their peak last month.
In Cochin, garbled pepper prices range between Rs 56,100 and Rs 54,100 per quintal, while ungarbled pepper prices in Karnataka are quoted between Rs 54,000 and Rs 55,700. The surge in arrival is contributing to the downward pressure on prices.
The anticipation of continued arrivals is expected to drive up prices in the near future. Indian pepper production is projected to reach 70,000 tons, marking an increase of 3,000 tons from the previous season. However, the Department of Commerce reported an 8.8% decline in November exports to 32,626 MT. Nevertheless, total exports from April to November saw a 4% increase, totaling 2.89 lakh tonnes.
In contrast, pepper prices in Vietnam's major markets have witnessed an increase of VND 500 per kg, ranging from VND 81,500 to VND 84,500. Global Free On Board (FOB) prices are reported to be stable, with the exception of Indonesia, where prices experienced a marginal decline.
Domestic Quotes (INR/Qtl):
- Kochi Ungarbled: 54,100
- Kochi Garbled: 56,100
- Kushalnagar: 54,200-55,500
- Chikamagalore: 54,000-55,700
FOB Quotes - Black Pepper (USD/MT or Ringgit/MT):
- Brazil ASTA: 4,050
- Vietnam 500gl: 3,900
- Vietnam 550gl: 4,000
- Indonesia ASTA: 3,918
- Malaysia: 4,900 (Ringgit/MT)
(By CommoditiesControl Bureau; +91-9820130172)
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