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Domestic and Vietnamese Pepper Prices Maintain Stability

29 Feb 2024 9:27 pm
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New Delhi, February 29 (Commodities Control): Domestic pepper prices in major markets have maintained stability, marking the second consecutive session of steadiness after experiencing a decline in the previous 10-12 sessions. Domestic prices have seen a reduction by Rs 7,500-8,000 per quintal from their peak last month.

In Cochin, garbled pepper is priced at Rs 54,000 per quintal, while ungarbled pepper is available at Rs 52,000. Karnataka reports pepper prices ranging between Rs 52,000 and Rs 54,400 per quintal. The surge in output, coupled with a decrease in export inquiries, is contributing to the decline in domestic prices. Anticipated Indian pepper production for the current season is projected to reach 70,000 tons, reflecting a 3,000-ton increase from the previous season.

In Vietnam, major pepper markets have observed stability for the third consecutive session, with prices ranging between VND 87,000 and VND 90,000 per kg, following a rise in the preceding day. The expected reduction in Vietnamese production is a key factor supporting stability in domestic pepper prices. Vietnam is projected to produce 170,000 tons in 2024, marking a 10.5% decrease from the previous year and contributing to a significant price increase.

Global Free on Board (FOB) prices have remained stable across origins, contributing to a consistent market environment.

Domestic Quotes (INR/Qtl)
- Kochi Ungarbled: 52,000
- Kochi Garbled: 54,000
- Kushalnagar: 52,200-54,500
- Chikamagalore: 52,000-54,500

FOB Quotes - Black Pepper
- Brazil ASTA (USD/MT): 4,350
- Vietnam 500gl (USD/MT): 3,900
- Vietnam 550gl (USD/MT): 4,000
- Indonesia ASTA (USD/MT): 3,911
- Malaysia (Ringgit/MT): 4,900

(By CommoditiesControl Bureau; +91-9820130172)

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