Mumbai, April 22 (Commoditiescontrol): Domestic pepper prices in major Indian markets remained stable despite a subdued session, with increasing prices in Vietnam providing support to the domestic market.
Market participants note a surge in export demand in recent weeks as the price differential between India and other countries has narrowed significantly. The upward trend in Vietnam's prices is expected to bolster prices in the domestic market.
In Cochin, garbled pepper was priced at Rs 57,300 per quintal, while ungarbled pepper stood at Rs 55,300 per quintal. In Karnataka, pepper prices ranged from Rs 55,200 to Rs 57,500 per quintal.
Vietnam witnessed a surge in pepper prices, reaching a record high of VND 96,000-97,000 per kg, marking an increase of VND 4,000-4,500 per kg from the previous session. These prices represent nearly a 60% increase compared to the same period last year. Global FOB prices remained stable to firm, with Indonesia experiencing an uptick while other destinations maintained stability.
Domestic prices are anticipated to remain stable to firm as demand escalates, with rising prices in Vietnam likely to further drive up domestic prices.
Domestic Quotes (INR/Qtl)
- Kochi: Ungarbled: 55,300 Garbled: 57,300
- Kushalnagar: 55,200-57,300
- Chikmagalur: 55,400-57,500
FOB Quotes - Black Pepper
- Brazil ASTA: USD 4,300/MT
- Vietnam 500gl: USD 4,200/MT
- Vietnam 550gl: USD 4,300/MT
- Indonesia ASTA: USD 4,578/MT
- Malaysia: Ringgit 4,900/MT
(By Commoditiescontrol Bureau: +91-22-40015505)
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