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Domestic Pepper Prices Stable; Vietnamese Pepper Prices Continue to Trade Higher

21 May 2024 7:55 pm
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New Delhi, May 21 (Commodities Control): Pepper prices in the domestic market have stabilized following a sharp rise driven by high demand. However, rising pepper prices in Vietnam are boosting domestic market prices despite an increase in annual crop yields. Vietnamese prices are setting new records daily.

In Cochin, garbled pepper remains stable at Rs 60,000 per quintal, while ungarbled pepper is priced at Rs 58,000 per quintal. In Karnataka, pepper prices range from Rs 57,800 to Rs 60,200 per quintal.

Vietnamese pepper prices, following a steady session, increased by VND 2,000-3,000 per kg, reaching new record highs. Prices in major provinces now range between VND 113,000 and 116,000 per kilogram. Vietnamese pepper prices have surged by 75% year-on-year, trading at near-record levels. Meanwhile, global FOB prices remain relatively stable across origins.

Reduced production in Vietnam and Brazil is contributing to higher spot market prices. Vietnam's production is projected to remain lower than in the previous five years, further driving up global market prices.

Domestic Pepper Prices (INR/Qtl):
- Kochi: - Ungarbled: Rs 58,000 - Garbled: Rs 60,000
- Kushalnagar: Rs 57,800 - Rs 60,000
- Chikamagalur: Rs 58,000 - Rs 60,200

FOB Quotes - Black Pepper (USD/MT):
- Brazil ASTA: $5,000
- Vietnam 500gl: $4,600
- Vietnam 550gl: $4,700
- Indonesia ASTA: $4,934
- Malaysia: (Ringgit/MT) 4,900

(By CommoditiesControl Bureau: +91-9820130172)

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