Mumbai, February 16 (CommoditiesControl): Domestic pepper prices in major markets have stabilized, following a recent correction, but still reflect a decrease of Rs 5,500-6,000 per quintal since last month's peak.
Garbled pepper prices in Cochin are quoted in the range between Rs 56,100 and Rs 54,100 per quintal, while ungarbled pepper prices in Karnataka remained in the range of Rs 54,000 to Rs 55,700 per quintal. The market attributes this decline to increased output and lower export inquiries.
Despite the recent dip, continued arrivals are anticipated to exert upward pressure on prices in the near future. India's pepper production is expected to reach 70,000 tons, a rise of 3,000 from the previous season. However, the Department of Commerce reported an 8.8% decline in November exports to 32,626 MT. Total exports from April to November were 4% higher, standing at 2.89 lakh tonnes.
In Vietnam, a key player in the global pepper market, prices were reported to be VND 500 higher per kg, ranging between VND 81,500 and VND 85,000. Meanwhile, global FOB prices remained stable, except in Indonesia, where prices experienced a slight 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:
- Brazil ASTA (USD/MT): 4,050
- Vietnam 500gl (USD/MT): 3,900
- Vietnam 550gl (USD/MT): 4,000
- Indonesia ASTA (USD/MT): 3,906
- Malaysia (Ringgit/MT): 4,900
(By CommoditiesControl Bureau; +91-9820130172)
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