Stable Domestic Pepper Prices Contrast Slight Increase in Vietnamese Market

Mumbai, March 19 (Commoditiescontrol): Domestic pepper prices remained stable in major markets, countering a weak session yesterday. However, prices have seen a notable decline of nearly Rs 18,000 per quintal from their peak, primarily attributed to lower export demand. Despite this, global prices have stayed elevated, indicating stability in domestic prices in the near term. Conversely, Vietnamese pepper prices have witnessed a slight increase, which is expected to lend support to pepper prices worldwide.

In Cochin, garbled pepper prices were reported at Rs 52,300 per quintal, while ungarbled pepper was priced at Rs 50,300. In Karnataka, pepper prices ranged from Rs 50,500 to Rs 52,500 per quintal.

Vietnamese pepper prices saw a slight uptick, ranging between VND 93,500 and VND 95,500 per kg, after a mostly stable week. These prices mark a significant 35% increase compared to the previous year and are hovering near record levels. Strong demand is anticipated in 2024, supported by a thin pipeline in upcountry and port warehouses. Additionally, field updates indicate lower-than-expected production, further bolstering prices.

Global FOB prices remained largely stable, except for Indonesia, where prices experienced a slight decline.

Domestic Quotes (INR/Qtl):
- Kochi: Ungarbled - 50,300, Garbled - 52,300
- Kushalnagar: 50,500-52,500
- Chikamagalore: 50,400-52,300


FOB Quotes - Black Pepper:
- Brazil ASTA (USD/MT): 4,375
- Vietnam 500gl (USD/MT): 4,100
- Vietnam 550gl (USD/MT): 4,200
- Indonesia ASTA (USD/MT): 4,291
- Malaysia (Ringgit/MT): 4,900

(CommoditiesControl Bureau; +91-9820130172)