Mumbai, July 19 (CommoditiesControl): Pepper prices in major domestic markets continued to decline as buyers remain sluggish due to a lack of export demand. Prices have dropped by another Rs 100 per quintal.
Despite the price drop, local sources indicate that supply is limited because large farmers and stockists are hesitant to sell. In Cochin, garbled pepper is priced at Rs 67,500 per quintal, while ungarbled pepper is at Rs 65,500. In Karnataka, prices range between Rs 65,500 and Rs 67,700 per quintal.
In Vietnam, pepper prices have fallen by VND 1,000 per kg, now ranging from VND 146,000 to VND 148,000 per kilogram. Port congestion is exerting additional pressure on prices as export demand remains low despite reduced supplies. However, prices are expected to rise in the coming days due to the lack of supply. Globally, prices remain stable across various origins.
Domestic Quotes (INR/Qtl):
Kochi Ungarbled 65,500
Kochi Garbled 67,500
Kushalnagar 65,500-67,700
Chikamagalore 65,500-67,700
FOB Quotes - Black Pepper
Brazil ASTA (USD/MT) 7,125
Vietnam 500gl (USD/MT) 6,000
Vietnam 550gl (USD/MT) 6,600
Indonesia ASTA (USD/MT) 7,190
Malaysia (Ringgit/MT) 7,500
(By CommoditiesControl Bureau: +91-9820130172)
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