Mumbai, February 27 (CommoditiesControl): Domestic pepper prices in major markets remained steady after a recent drop over the past 10-12 sessions. The domestic prices have seen a decrease of Rs 7,500-8,000 per quintal since reaching their peak last month.
Garbled pepper prices in Cochin were reported at Rs 54,000 per quintal, while ungarbled peppers were priced at Rs 52,000 per quintal. In Karnataka, prices ranged between Rs 52,000 and Rs 54,400 per quintal. The surge in output, coupled with reduced export inquiries, is cited as a contributing factor to the current stability in domestic prices.
Indian pepper production is anticipated to reach 70,000 tons, reflecting a 3,000-ton increase from the previous season. Recent export and import figures for December indicate a 5% increase in exports at 1,440 MT, while imports surged by 20.4% year-on-year to 3,132 MT, mainly attributed to heightened imports from Vietnam and Brazil. Imports from Vietnam reportedly soared by 728% year-on-year.
In Vietnam, pepper prices in major markets held steady for the second consecutive session, ranging from VND 87,000 to VND 90,000 per kg after experiencing an increase in the previous session. The expected decrease in Vietnamese production is providing support to domestic pepper prices. Vietnam's production in 2024 is forecasted to be 170,000 tons, indicating a 10.5% decrease year-on-year. This decline, coupled with lower acreage and yields, has led to reduced production. Harvesting has only recently begun, and the crop is more evenly distributed than last year, contributing to higher prices in local markets.
Global Free on Board (FOB) prices have shown consistency across various origins, reflecting the overall stability in the global pepper market.
Domestic Quotes (INR/Qtl):
- Kochi: Ungarbled - 52,000, Garbled - 54,000
- Kushalnagar: 52,200-54,500
- Chikamagalore: 52,000-54,500
FOB Quotes - Black Pepper:
- Brazil ASTA (USD/MT): 4,350
- Vietnam 500gl (USD/MT): 3,900
- Vietnam 550gl (USD/MT): 4,000
- Indonesia ASTA (USD/MT): 3,922
- Malaysia (Ringgit/MT): 4,900
(By CommoditiesControl Bureau; +91-9820130172)
0 Comments 
Post Comment 
