Mumbai, April 5, 2024 (Commoditiescontrol): Domestic pepper prices across major markets have found a stable footing following a notable increase. The surge has seen prices climb by Rs 3,800 per quintal from their recent lows. This stabilization is attributed to robust demand within the domestic sphere, buoyed by comparatively lower prices. Market insiders point to a significant uptick in export demand in recent times, as the price differential between Indian pepper and its international counterparts diminishes.
In the market specifics, Cochin reports prices for garbled pepper at Rs 55,600 per quintal, with ungarbled variants fetching Rs 53,600. Meanwhile, in Karnataka, pepper prices are observed within the range of Rs 53,800 to Rs 56,000 per quintal.
Over in Vietnam, the scenario mirrors stability with pepper prices hovering between VND 92,000 to 94,500 per kg, showing no change from the last session. However, a watchful eye is kept on the potential pressure on prices as market arrivals peak. On the international front, FOB prices remain steady across significant sources, barring Indonesia, which saw a slight uptick.
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