Mumbai, July 16 (CommoditiesControl): Pepper prices in major domestic markets have continued to decline as buyers remain sluggish due to a lack of export demand. Prices have dropped by another Rs 100 per quintal. Local traders report that supply is limited because large farmers and stockists are hesitant to sell their products. In Cochin, garbled pepper is priced at Rs 67,800 per quintal, while ungarbled pepper is Rs 65,800. In Karnataka, pepper prices range between Rs 65,800 and Rs 68,000 per quintal.
The latest May EXIM figures have been released, showing a 6% increase in exports to 1,616 tons and a 38% increase in imports to 3,431 tons, primarily from Vietnam, Sri Lanka, and Indonesia. In Vietnam, pepper prices have decreased by VND 2,000 per kg, ranging from VND 148,000 to VND 150,000 per kilogram. Port congestion is putting pressure on prices, with lower export demand expected due to tighter supply. However, price increases are anticipated in the coming days due to scarcity. Globally, pepper prices remain stable, except in Indonesia where prices have slightly increased.
According to the Vietnam Pepper and Spice Association (VPSA), Vietnam exported 142,586 tons of various peppers in the first half of 2024, a 6.8% decrease in volume but a 30.5% increase in value. Of these, white pepper exports were at 16,627 tons, while black pepper exports totaled 125,959 tons. The United States was the largest importer, with 37,435 tons, up 44.6% from the same period last year, followed by Germany (9,526 tons, up 106.7%), the UAE (8,388 tons, up 15.2%), India (8,173 tons, up 45.7%), China (7,453 tons, down 85.2%), and the Netherlands (6,019 tons, up 52.1%).
Domestic Quotes (INR/Qtl):
- Kochi: Ungarbled - 65,800; Garbled - 67,800
- Kushalnagar: 65,800-68,000
- Chikamagalore: 65,800-68,800
FOB Quotes - Black Pepper (USD/MT):
- Brazil ASTA: 7,125
- Vietnam 500gl: 6,000
- Vietnam 550gl: 6,600
- Indonesia ASTA: 7,190
- Malaysia: 7,500 (Ringgit/MT)
(By CommoditiesControl Bureau: +91-9820130172)
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