Mumbai, August 05 (CommoditiesControl): After a steady increase over the past week, with prices rising nearly Rs 1,000 per quintal, pepper prices in the spot markets of Kerala and Karnataka have stabilized. Stockists and large farmers are holding onto their stocks, contributing to this price stability. On Saturday, prices rose by Rs 100 per quintal.
In Cochin, ungarbled pepper is priced at Rs 65,800 per quintal, garbled pepper at Rs 67,800, and 500gl pepper at Rs 63,800 per quintal. In Karnataka, pepper prices range from Rs 65,800 to Rs 68,200 per quintal.
Heavy rains have caused landslides in Kerala and Karnataka, the two main pepper-growing regions. These landslides and excessive rains may have caused crop damage, but the full extent of the damage will not be known until the rains cease.
Pepper prices in Vietnam remain stable, ranging from VND 147,000 to VND 148,000. Prices have remained within this wider range for the past month due to a lack of export demand. The supply pipeline is empty, making it unlikely for prices to fall much further. Global pepper prices are generally stable, except in Brazil, where there has been a slight decrease.
Given the steep decline in prices from their recent peaks, it seems unlikely that they will drop significantly further. With a drastically reduced supply, prices are expected to rise when demand picks up in mid-August.
Domestic Quotes (INR/Qtl)
- Kochi:
- Ungarbled: Rs 65,800
- Garbled: Rs 67,800
- Karnataka:
- Kushalnagar: Rs 65,800-68,000
- Chikamagalore: Rs 65,800-68,200
FOB Quotes - Black Pepper
- Brazil ASTA: USD 6,750/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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