Mumbai, June 14 (Commodities Control): After a sharp increase, pepper prices in major domestic markets have declined due to low buying activity. Prices had reached an eight-year high, prompting stockists to liquidate their holdings for profit. Local traders report that farmers and stockists are hesitant to sell, which has been raising spot market prices.
In Cochin, garbled pepper remains stable at Rs 70,000 per quintal, while ungarbled pepper is priced at Rs 68,000. In Karnataka, pepper prices range from Rs 67,800 to Rs 70,200 per quintal, maintaining the highest levels seen in eight years.
In Vietnam, pepper prices fell for the second consecutive session due to low demand at higher prices. Prices dropped by an additional VND 5,000-6,000 per kg, totaling nearly VND 25,000-28,000 per kg over the last two sessions. Despite this decline, prices in Vietnam have doubled in the past three months, allowing for some profit-taking. Prices in major Vietnamese provinces range between VND 160,000-162,000 per kilogram. Globally, prices remained mostly stable, except in Brazil, where they fell by 4.8%, and in Indonesia, which saw a marginal decline.
(By Commoditiescontrol Bureau: +91 9820130172)
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