Mumbai, July 26 (CommoditiesControl): Pepper prices in major domestic markets continue to decline as buyers exercise caution amidst weak export demand. Today, prices fell by Rs 100 per quintal, marking a total decline of Rs 1,300 per quintal over the past 13-15 sessions.
Weather conditions in major pepper-growing regions such as Kerala and Karnataka have seen above-normal rainfall over the past two weeks. This has reduced the overall rainfall deficit to 13% from 24% a fortnight ago. Local sources indicate that these rains are beneficial for crop development, potentially impacting future supply and prices.
In Cochin, garbled pepper is priced at Rs 66,700 per quintal, while ungarbled pepper is at Rs 64,700 per quintal. In Karnataka, pepper prices range from Rs 64,700 to Rs 66,900 per quintal.
Meanwhile, in Vietnam, pepper prices have increased by VND 1,000 per kg, with current prices ranging from VND 149,000 to VND 150,000 per kilogram. Despite this increase, prices have remained within a broader range for the past month due to limited export demand. Market experts suggest that further declines in prices are unlikely as the supply pipeline remains empty. Global pepper prices appear to be stable across origins, except for Brazil and Indonesia.
Domestic Quotes (INR/Qtl)
- Kochi (Ungarbled): 64,700
- Kochi (Garbled): 66,700
- Kushalnagar: 64,700-66,900
- Chikamagalore: 64,700-66,900
FOB Quotes - Black Pepper
- Brazil ASTA (USD/MT): 6,950
- Vietnam 500gl (USD/MT): 6,000
- Vietnam 550gl (USD/MT): 6,600
- Indonesia ASTA (USD/MT): 7,150
- Malaysia (Ringgit/MT): 7,500
(By CommoditiesControl Bureau: +91-9820130172)
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