Mumbai, August 06 (CommoditiesControl): After a steady rise of nearly Rs 1,000 per quintal over the past week, pepper prices in Kerala and Karnataka have stabilized for the second consecutive session. Stockists and large farmers are holding onto their stocks, contributing to the stability in prices.
In Cochin, the cost of ungarbled pepper is Rs 65,800 per quintal, garbled pepper is Rs 67,800, and 500 GL pepper is Rs 63,800 per quintal. In Karnataka, pepper prices range from Rs 65,800 to Rs 68,200 per quintal.
In Vietnam, pepper prices have fallen below VND 140,000 per kg, now ranging from VND 138,000 to VND 139,000 per kg. The decline follows a wider trading range and is attributed to a lack of export demand.
Harvesting has commenced in Brazil and Indonesia, which is expected to keep prices under control in the near term. Reports suggest that production might be around 1.05 lakh tons, a decrease of approximately 5-7% compared to the previous session due to weather anomalies. All origins have reported stable prices, except Brazil, where prices have fallen due to the pressure of new arrivals.
Following a recent price increase, pepper prices are expected to remain weak due to low demand at higher price levels and reduced export demand as harvesting begins in Brazil. However, a sharp decline in prices is unlikely because overall production is expected to be significantly lower due to drought conditions.
Domestic Quotes (INR/Qtl):
- Kochi: - Ungarbled: Rs 65,800
- Kochi: - Garbled: Rs 67,800
- Karnataka: Kushalnagar: Rs 65,800-68,000
- Karnataka: Chikamagalur: Rs 65,800-68,200
FOB Quotes - Black Pepper (USD/MT):
- Brazil ASTA: $6,400
- Vietnam 500 GL: $6,000
- Vietnam 550 GL: $6,600
- Indonesia ASTA: $7,211
- Malaysia (Ringgit/MT): 7,500
(By CommoditiesControl Bureau: +91-9820130172)
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