Mumbai, March 18 (CommoditiesControl): Domestic pepper prices in major markets have shown a marginal decline, despite a slight improvement observed in the previous week. While prices have managed to recover by around 2,000-2,500 per quintal since its recent low, but these have dipped by nearly Rs 18,000-20,000 per quintal from peak. This downward trend is primarily attributed to diminished export demand. However, global prices have remained relatively high, which is anticipated to stabilize domestic prices in the near term.
In Kochi, garbled pepper is priced at Rs 52,300 per quintal, whereas ungarbled pepper commands Rs 50,300 per quintal. Pepper prices in Karnataka have been ranging from Rs 50,500 to Rs 52,500 per quintal.
Contrastingly, pepper prices in Vietnam have experienced a slight uptick, ranging between VND 93,000 and VND 95,000 per kg, following a predominantly stable week. These prices mark a significant 35% increase year-on-year. Strong demand is anticipated for 2024, with prices bolstered by limited inventory in upcountry and port warehouses. Moreover, field reports indicate that production is likely to be lower than initially expected, further supporting prices.
Global FOB prices have displayed mixed trends, with increases noted in Indonesia and slight decreases in Brazil, while remaining relatively stable in most major origins.
Domestic Quotes (INR/Qtl)
- Kochi: Ungarbled - 50,300; Garbled - 52,300
- Kushalnagar: 50,500-52,500
- Chikamagalore: 50,400-52,300
FOB Quotes - Black Pepper
- Brazil ASTA: (USD/MT) 4,375
- Vietnam 500gl: (USD/MT) 4,100
- Vietnam 550gl: (USD/MT) 4,200
- Indonesia ASTA: (USD/MT) 4,302
- Malaysia: (Ringgit/MT) 4,900
(CommoditiesControl Bureau; +91-9820130172)
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