Mumbai, May 3 (CommoditiesControl): Pepper prices in major domestic markets witnessed a significant increase of Rs 600 per quintal after maintaining stability for 2-3 sessions, fueled by robust demand.
Market participants attribute this surge to strong inquiries from stockists and exporters, coupled with rising global prices. Notably, Vietnamese prices are trading at record highs, reflecting a tighter balance caused by aggressive exports and lower output.
In Cochin, garbled pepper is priced at Rs 59,200 per quintal, while ungarbled pepper costs Rs 57,200. Meanwhile, in Karnataka, prices range from Rs 57,000 to Rs 59,500 per quintal.
Contrastingly, pepper prices in Vietnam remained stable, with prices ranging from VND 97,000 to 98,000 per kg. However, Vietnamese prices are reported to be 60% higher year-on-year due to supply constraints and robust export demand.
Global FOB prices for black pepper varied, with higher prices observed in Indonesia, while other centers remained stable.
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