Mumbai, May 27 (CommoditiesControl): Pepper prices in both the domestic and international markets have continued to rise, driven by increasing demand and limited selling from farmers and stockists.
In the domestic market, prices increased today by Rs 500–600 per quintal, with local traders noting hesitancy among farmers and stockists to sell their produce, thereby maintaining high spot market prices.
In Cochin, garbled pepper remains stable at Rs 61,200 per quintal, while ungarbled pepper is priced at Rs 59,200 per quintal. In Karnataka, pepper prices range from Rs 59,000 to Rs 61,200 per quintal.
The situation is similarly bullish in the Vietnamese market, where prices in major provinces range between VND 119,000 and 120,000 per kilogram, up by VND 2,000 from the previous session. Vietnamese pepper prices have risen by 57% year-on-year, trading near record highs. Despite increased output, rising prices in Vietnam support the domestic market, with Vietnamese prices setting new records daily.
Reduced production in key producing countries like Vietnam and Brazil is also contributing to the upward pressure on spot market prices. Vietnam's production is expected to remain lower than in the previous five years, driving up global market prices.
Global FOB prices have risen in Indonesia, while other regions have remained relatively stable. As the trend of limited production and strong demand continues, pepper prices are likely to remain high in both domestic and international markets.
Domestic Pepper Prices (INR/Qtl)
- Kochi (Ungarbled): Rs 59,200
- Kochi (Garbled): Rs 61,200
- Kushalnagar: Rs 59,000-61,200
- Chikamagalore: Rs 58,800-61,200
Global FOB Prices - Black Pepper (USD/MT)
- Brazil ASTA: $5,000
- Vietnam 500gl: $4,800
- Vietnam 550gl: $5,000
- Indonesia ASTA: $5,121
- Malaysia: 4,900 Ringgit
(By CommoditiesControl Bureau: +91-9820130172)
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