Domestic and Vietnamese Pepper Prices Maintain Upward Trend

Mumbai, March 15 (CommoditiesControl): Domestic pepper prices in major markets have stabilized after experiencing a notable recovery of about Rs 2,000-2,500 per quintal. Despite this rebound, prices have declined by Rs 18,000-20,000 per quintal from their peak levels, primarily due to subdued export demand. However, global prices have remained elevated, providing support to domestic prices in the near term.

In Cochin market, garbled pepper is priced at Rs 52,600 per quintal, while ungarbled pepper commands Rs 50,600 per quintal. In Karnataka, pepper prices range from Rs 50,800 to Rs 52,800 per quintal.

Conversely, pepper prices in Vietnam have remained steady for the third consecutive session, hovering between VND 92,000 and VND 95,000 per kg. This stability follows a sharp increase observed in the previous week, with prices witnessing a notable year-on-year surge of 35%. Anticipated high demand in 2024, coupled with lower-than-expected production estimates, is expected to further bolster prices. The thin pipeline in upcountry and port warehouses also contributes to the positive price outlook.

Global Free on Board (FOB) prices have shown stability across major origins, except for Indonesia, where prices experienced a slight decline.

Domestic Pepper Quotes (INR/Qtl):
- Kochi: Ungarbled - 50,600, Garbled - 52,600
- Kushalnagar: 50,500-52,500
- Chikamagalore: 50,400-52,300

FOB Quotes - Black Pepper:
- Brazil ASTA: USD 4,400/MT
- Vietnam 500gl: USD 4,100/MT
- Vietnam 550gl: USD 4,200/MT
- Indonesia ASTA: USD 4,169/MT
- Malaysia: MYR 4,900/MT










(By CommoditiesControl Bureau; +91-9820130172)