Mumbai, June 24 (Commodities Control): Domestic pepper prices in key markets have declined by Rs 300 per quintal, following a price increase in the last two sessions of the previous week. This decline aligns with the global trend of decreasing pepper prices. Despite the drop, local traders report that farmers and stockists are reluctant to sell their produce, which may help stabilize prices in the short term.
In Cochin, the price of garbled pepper remains stable at Rs 70,200 per quintal, while ungarbled pepper is priced at Rs 68,200 per quintal. In Karnataka, prices range from Rs 68,400 to Rs 70,500 per quintal. The situation is further impacted by rainfall in major pepper-growing districts of Kerala and Karnataka being 30-40% below normal levels.
Vietnamese pepper prices also fell significantly. Prices dropped by VND 10,000-15,000 per kilogram in today's session and by VND 40,000-45,000 per kilogram from their recent highs due to low demand. Current prices in major provinces range between VND 145,000-146,000 per kilogram. Despite this sharp decline, prices are expected to recover in the coming days. Globally, pepper prices, excluding Malaysia, fell sharply by 4-10%.
Domestic Quotes (INR/Qtl):
- Kochi: Ungarbled - 68,200, Garbled - 70,200
- Kushalnagar: 68,400-70,400
- Chikamagalore: 68,500-70,500
FOB Quotes - Black Pepper (USD/MT):
- Brazil ASTA: 7,200
- Vietnam 500gl: 5,900
- Vietnam 550gl: 6,300
- Indonesia ASTA: 7,090
- Malaysia: 7,500 (Ringgit/MT)
(By CommoditiesControl Bureau: +91-9820130172)
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