Mumbai, June 18 (Commoditiescontrol): Following a drop in the last 2-3 sessions of the previous week, pepper prices in major domestic markets were reported to be stable as sellers remained inactive. Prices have reached an eight-year high, encouraging stockists to sell their holdings for a profit. According to local traders, farmers and stockists are hesitant to sell, which is driving up spot market prices.
In Cochin, garbled pepper remained stable at Rs 69,600 per quintal, while ungarbled pepper was priced at Rs 67,600 per quintal. In Karnataka, pepper prices ranged from Rs 67,600 to Rs 69,800 per quintal. These prices mark the highest levels seen in eight years.
In Vietnam, pepper prices stabilized after a sharp drop of VND 25,000-28,000 per kg in the previous two sessions. Prices in the major provinces ranged from VND 160,000 to 162,000 per kilogram. Globally, prices stayed mostly stable.
Domestic Quotes (INR/Qtl)
- Kochi Ungarbled: 67,600
- Kochi Garbled: 69,600
- Kushalnagar: 67,600-69,700
- Chikamagalur: 67,500-69,800
FOB Quotes - Black Pepper
- Brazil ASTA (USD/MT): 7,900
- Vietnam 500gl (USD/MT): 8,000
- Vietnam 550gl (USD/MT): 7,800
- Indonesia ASTA (USD/MT): 6,418
- Malaysia (Ringgit/MT): 4,900
As sellers remain inactive and spot prices are driven up by hesitant stockists and farmers, the stability in pepper prices is expected to continue in the short term. The global market also reflects this stability, with prices largely unchanged across major exporting countries.
(By CommoditiesControl Bureau: +91-9820130172)
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