Mumbai, March 27 (Commodities Control): Domestic pepper prices in major markets continued to show upward trend, fueled by robust demand at relatively lower price levels. Significant price hikes were observed in Kerala and Karnataka markets, with prices rising by Rs 900-1,100 per quintal. However, despite the recent surge, prices have retreated from their peak levels by almost Rs 16,000 per quintal, primarily due to subdued export demand.
In Cochin, garbled pepper prices were reported at Rs 53,900 per quintal, while ungarbled pepper prices stood at Rs 51,900 per quintal. Similarly, in Karnataka, pepper prices ranged from Rs 52,000 to Rs 54,000 per quintal.
Meanwhile, the Ministry of Commerce released EXIM figures for January, revealing a notable 42% increase in exports, totaling 1,770 metric tons. This surge in exports was propelled by stronger imports from the United States and the European Union. However, despite the monthly uptick, cumulative exports from April to January registered a 9.0% decrease compared to the previous year, totaling 13,627 metric tons. Import volumes stood at 2,660 metric tons, with higher imports from Sri Lanka.
In Vietnam, pepper prices remained stable, trading at a record high of VND 92,500 to 96,000 per kilogram, marking a substantial 35% year-on-year increase. However, prices are anticipated to face downward pressure as arrivals peak. Globally, FOB prices showed mixed trends, with Indonesia witnessing slight declines while Brazil reported an increase.
Domestic Quotes (INR/Qtl)
- Kochi Ungarbled: 51,900
- Kochi Garbled: 53,900
- Kushalnagar: 52,200-54,000
- Chikamagalore: 52,000-53,800
FOB Quotes - Black Pepper
- Brazil ASTA (USD/MT): 4,500
- Vietnam 500gl (USD/MT): 4,200
- Vietnam 550gl (USD/MT): 4,300
- Indonesia ASTA (USD/MT): 4,395
- Malaysia (Ringgit/MT): 4,900
(CommoditiesControl Bureau; +91-9820130172)
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