Ahmedabad, August 2 (CommoditiesControl): Pepper prices in the domestic market have been on the rise, driven by low trading activity due to heavy rainfall and reduced interest in selling from stockists and large farmers. For the fifth consecutive session, domestic pepper prices have increased by Rs 200 per quintal, with a cumulative rise of nearly Rs 1,000 per quintal over the last five sessions.
In the main domestic markets, ungarbled pepper in Cochin is priced at Rs 65,700 per quintal, garbled pepper at Rs 67,700 per quintal, and 500gl pepper at Rs 63,700 per quintal. In Karnataka, prices range between Rs 65,700 and Rs 68,000 per quintal.
The primary pepper-growing regions of Kerala and Karnataka have experienced landslides due to heavy rains, potentially causing crop damage. However, the extent of this damage will only be clear once the rainfall subsides.
In contrast, pepper prices in Vietnam have fallen, with a decrease of VND 1,000 per kilogram, bringing prices to a range of VND 147,000 to VND 148,000. Over the past month, Vietnamese pepper prices have fluctuated within a wider range due to weak export demand. Given the current market conditions, significant further declines are unlikely as supply pipelines are reportedly empty.
Globally, pepper prices are stable across most origins, except for Indonesia, where prices have partially recovered. Despite the recent sharp drop from peak levels, further declines seem unlikely. The predicted decreased supply is expected to drive prices up when demand increases in mid-August.
Domestic Quotes (INR/Qtl):
- Kochi Ungarbled: Rs 65,700
- Kochi Garbled: Rs 67,700
- Kushalnagar: Rs 65,600-67,800
- Chikamagalore: Rs 65,700-68,000
FOB Quotes - Black Pepper:
- Brazil ASTA: USD 6,850/MT
- Vietnam 500gl: USD 6,000/MT
- Vietnam 550gl: USD 6,600/MT
- Indonesia ASTA: USD 7,176/MT
- Malaysia: MYR 7,500/MT
(By CommoditiesControl Bureau: +91-9820130172)
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