Mumbai, May 9 (CommoditiesControl): Domestic pepper prices are experiencing an upward trend, driven by robust demand and significant increases in global prices. Strong demand from stockists and exporters, coupled with concerns over crop yields in key growing regions, are driving prices higher.
In Cochin, garbled pepper is commanding Rs 60,000 per quintal, while ungarbled pepper is priced at Rs 58,000 per quintal. Similarly, in Karnataka, pepper prices range from Rs 57,800 to Rs 60,200 per quintal.
Meanwhile, Vietnamese pepper prices are expected to maintain stability for the second consecutive session, hovering between VND 103,000 and 104,000 per kilogram. Vietnam's prices have surged by 65% compared to the previous year, reaching record highs due to reduced output and a tighter supply-demand balance exacerbated by aggressive exports. Analysts anticipate a yearly production decline of 10-12%, further supporting prices. While FOB prices surged in Vietnam, prices in other major centers remained steady.
Domestic Quotes (INR/Qtl):
- Kochi: Ungarbled - 58,000, Garbled - 60,000
- Kushalnagar: 57,800-60,200
- Chikamagalore: 57,900-60,200
FOB Quotes - Black Pepper (USD/MT or Ringgit/MT):
- Brazil ASTA: 4,900
- Vietnam 500gl: 4,600
- Vietnam 550gl: 4,700
- Indonesia ASTA: 4,902
- Malaysia: 4,900
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