Mumbai, March 04 (Commodities Control): Domestic pepper prices in major key markets displayed stability after a series of consistent sessions, hovering at levels lower by Rs 7,500-8,000 per quintal from last month's peak.
In Cochin, garbled pepper prices settled at Rs 53,500 per quintal, with ungarbled varieties priced at Rs 51,500. Karnataka reported pepper prices ranging between Rs 51,600 and Rs 53,800 per quintal. The current scenario is influenced by an uptick in output and decreased export inquiries, contributing to the decline in domestic prices.
Simultaneously, domestic pepper prices in Vietnam experienced an increase of VND 500-1,500 per kg, ranging from VND 92,000 to VND 95,000 per kg, following a surge the day before. Vietnam is projected to produce 170,000 tons in 2024, marking a 10.5% decrease from the previous year.
On the global front, FOB prices strengthened, with Vietnam and Indonesia witnessing price hikes due to robust demand.
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): 4,400
- Vietnam 500gl (USD/MT): 4,100
- Vietnam 550gl (USD/MT): 4,200
- Indonesia ASTA (USD/MT): 3,962
- Malaysia (Ringgit/MT): 4,900
(By CommoditiesControl Bureau; +91-9820130172)
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