Mumbai, May 8 (Commodities Control): Pepper prices in major domestic markets, despite experiencing increases, have remained stable owing to robust demand. Strong stockist demand has lent support to prices, especially as global prices witness an uptrend due to concerns regarding crops in growing regions.
In Cochin, garbled pepper is priced at Rs 59,900 per quintal, while ungarbled pepper stands at Rs 57,900. Pepper prices in Karnataka range from Rs 57,700 to Rs 60,000 per quintal.
Vietnamese pepper prices are anticipated to remain steady for the second consecutive session, ranging from VND 103,000 to 104,000 per kilogram. Vietnam's prices have surged by 65% year on year, hitting record highs due to diminished output and a tighter balance resulting from aggressive exports.
Market analysts predict a yearly production decline of 10-12%. While global FOB prices have experienced a marginal decrease, other centers have maintained stability.
Domestic Quotes (INR/Qtl)
- Kochi: Ungarbled 57,900, Garbled 59,900
- Kushalnagar: 57,700-60,000
- Chikamagalore: 57,800-60,000
FOB Quotes - Black Pepper
- Brazil ASTA (USD/MT): 4,900
- Vietnam 500gl (USD/MT): 4,400
- Vietnam 550gl (USD/MT): 4,500
- Indonesia ASTA (USD/MT): 4,902
- Malaysia (Ringgit/MT): 4,900
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