Mumbai, April 3 (CommoditiesControl): Pepper prices in major domestic markets have surged by Rs 600 per quintal, marking a notable increase from their recent lows. This upward trend amounts to a total increase of Rs 3,800 per quintal, due to robust demand at lower price levels. The record-high pepper prices in Vietnam have also provided support to domestic markets. Export demand has witnessed a pickup in recent weeks, driven by a significant narrowing of spreads between India and other nations.
In the domestic market, garbled pepper prices in Cochin are reported at Rs 55,600 per quintal, while ungarbled peppers are priced at Rs 53,600. In Karnataka, pepper prices ranged from Rs 53,800 to Rs 56,000 per quintal.
In Vietnam, pepper prices were observed in the range of VND 92,000 and 94,500 per kg, marking a decrease of VND 500 per kg compared to the previous session. Prices are expected to face pressure as arrivals peak in the region. Meanwhile, global Free on Board (FOB) prices for black pepper remain stable to firm, with Indonesia showing marginal recovery and other origins maintaining stability.
Domestic Quotes (INR/Qtl):
- Kochi: Ungarbled - Rs 53,600, Garbled - Rs 55,600
- Kushalnagar: Rs 54,200-56,000
- Chikamagalore: Rs 54,000-55,800
FOB Quotes - Black Pepper:
- Brazil ASTA: USD 4,450 per MT
- Vietnam 500gl: USD 4,200 per MT
- Vietnam 550gl: USD 4,300 per MT
- Indonesia ASTA: USD 4,446 per MT
- Malaysia: Ringgit 4,900 per MT
(CommoditiesControl Bureau; +91-9820130172)
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