Mumbai, May 22 (Commodities Control): Pepper prices in the domestic market have remained stable following a recent sharp rise driven by high demand. This stability is supported by rising prices in Vietnam, despite an increase in annual crop yields. Vietnam's pepper prices are setting new records daily.
In the domestic market, garbled pepper in Cochin is stable at Rs 60,000 per quintal, while ungarbled pepper is priced at Rs 58,000 per quintal. In Karnataka, pepper prices range from Rs 57,800 to Rs 60,200 per quintal.
The Department of Commerce released the EXIM data for March, showing a 12% year-on-year increase in exports, totaling 1,578 MT. Imports, however, were reported at 1,805 MT, a 28% decrease year-on-year. The surge in Vietnam prices has contributed to the reduction in imports for the month.
In Vietnam, pepper prices range between VND 113,000 and 116,000 per kilogram, marking a 75% increase year-on-year and approaching record levels. Global FOB prices have remained relatively stable across different origins, despite these local increases.
The global pepper market is experiencing upward pressure on prices due to reduced production in major producing countries like Vietnam and Brazil. Vietnam's production is expected to remain below the levels of the past five years, contributing to higher global market prices.
Domestic Pepper Prices (INR/Qtl):
- Kochi: Ungarbled - 58,000; Garbled - 60,000
- Kushalnagar - 57,800-60,000;
- Chikamagalur - 58,000-60,200
FOB Pepper Prices (USD/MT):
- Brazil ASTA: 5,000
- Vietnam 500gl: 4,600
- Vietnam 550gl: 4,700
- Indonesia ASTA: 4,934
- Malaysia: 4,900 (Ringgit/MT)
(By CommoditiesControl Bureau: +91-9820130172)
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