Mumbai, July 3 (CommoditiesControl): Pepper prices in major domestic markets have continued to trend lower, with a decrease of Rs 400 per quintal. Despite this, local traders report that farmers and stockists are reluctant to sell, which has helped stabilize prices to some extent.
In Cochin, garbled pepper is priced at Rs 69,000 per quintal, while ungarbled pepper is at Rs 67,000 per quintal. In Karnataka, pepper prices range between Rs 67,000 and Rs 69,000 per quintal.
Pepper prices in Vietnam have fallen by VND 2,000-5,000 per kg due to shipping congestion and increased freight rates, which have surged since the start of the year. Prices in major Vietnamese provinces are reported between VND 149,000 and VND 151,000 per kilogram. Despite the current weakness, prices are expected to rise in the near future due to anticipated scarcity.
In Brazil, the ongoing harvest is expected to yield 20-25% less pepper compared to previous years due to drier weather and minimal rainfall during the growing season. This reduction in production, coupled with weaker global prices, is affecting the market. Global pepper prices are reported to be weak, with significant declines in Vietnamese prices and more modest decreases in Brazil and Indonesia.
FOB Quotes for Black Pepper:
- Brazil ASTA: USD 7,250 per MT
- Vietnam 500gl: USD 6,000 per MT
- Vietnam 550gl: USD 6,600 per MT
- Indonesia ASTA: USD 7,109 per MT
- Malaysia: MYR 7,500 per MT
Overall, domestic pepper prices remain under pressure despite some price stability due to reluctance to sell. Internationally, Vietnamese prices have dropped due to shipping issues, while global prices show a general weakness with significant declines in Vietnam and more moderate falls elsewhere. The expected lower production in Brazil could lead to future price increases if scarcity continues.
(By CommoditiesControl Bureau: +91-9820130172)
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