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Domestic Pepper Prices Surge; Vietnamese Prices Decline

16 Apr 2024 9:08 pm
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Mumbai, April 16 (CommoditiesControl): Domestic pepper prices in major Indian markets continued their upward trajectory, witnessing an additional increase of Rs 200-300 per quintal. Prices have surged by nearly Rs 6,000 per quintal since the recent low, driven by robust domestic demand. Export demand has also seen an uptick in recent weeks, spurred by a significant narrowing of the price gap between India and other countries.

In Cochin, garbled pepper is priced at Rs 57,900 per quintal, while ungarbled pepper stands at Rs 55,900. Prices in Karnataka ranged from Rs 55,800 to Rs 58,000 per quintal.

Conversely, Vietnamese pepper prices remained low, experiencing a decline of VND 500 per kg and trading between VND 89,000 and 89,500 per kg compared to the previous session. Prices are anticipated to remain under pressure as arrivals peak. Global Free on Board (FOB) prices from major origins were reported to be stable.

The limited export parity between domestic and Vietnamese prices is likely to constrain further price increases in the domestic market unless Vietnamese prices start to rise.

Domestic Quotes (INR/Qtl)
- Kochi Ungarbled: 55,900
- Kochi Garbled: 57,900
- Kushalnagar: 55,800-57,800
- Chikamagalore: 55,800-58,000

FOB Quotes - Black Pepper
- Brazil ASTA (USD/MT): 4,450
- Vietnam 500gl (USD/MT): 4,200
- Vietnam 550gl (USD/MT): 4,300
- Indonesia ASTA (USD/MT): 4,463
- Malaysia (Ringgit/MT): 4,900

(CommoditiesControl Bureau; +91-9820130172)

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