Mumbai, April 18 (Commoditiescontrol): Domestic pepper prices in major markets experienced a marginal decline following a recent surge. Prices dropped by Rs 100-200 per quintal after reaching nearly Rs 6,000 per quintal higher from their recent lows. Strong demand domestically has supported prices, while export demand has also increased in recent weeks due to a significant reduction in the price differential between India and other countries.
In domestic markets, garbled pepper prices in Cochin were reported at Rs 57,600 per quintal, while ungarbled pepper was priced at Rs 55,600 per quintal. Pepper prices in Karnataka ranged from Rs 55,500 to Rs 57,800 per quintal.
Meanwhile, in Vietnam, pepper prices remained stable, trading between VND 89,000 and 89,500 per kg in the previous session. Prices are expected to remain under pressure as arrivals peak. Global FOB prices showed mixed trends, with Indonesia witnessing a rise and Brazil experiencing a decline, while other destinations remained stable.
The reduction in export parity due to the rise in domestic prices coupled with stable prices in Vietnam is likely to limit further increases in the domestic market unless prices start to climb in Vietnam.
Domestic Quotes (INR/Qtl):
- Kochi: Ungarbled - 55,600, Garbled - 57,600
- Kushalnagar: 55,500-57,500
- Chikmagalur: 55,600-57,800
FOB Quotes - Black Pepper:
- Brazil ASTA (USD/MT): 4,300
- Vietnam 500gl (USD/MT): 4,200
- Vietnam 550gl (USD/MT): 4,300
- Indonesia ASTA (USD/MT): 4,591
- Malaysia (Ringgit/MT): 4,900
(By Commoditiescontrol Bureau: +91-22-40015505)
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