New Delhi, August 8 (Commoditiescontrol): Domestic pepper prices in India have experienced a decline as weak export demand coincides with the commencement of harvesting in Brazil and the peak season in Indonesia. Spot market prices in Kerala and Karnataka dropped by Rs 100 per quintal for the second consecutive session, following a week of steady increases that saw prices rise by nearly Rs 1,000 per quintal.
In Cochin, ungarbled pepper is currently priced at Rs 65,600 per quintal, garbled pepper at Rs 67,600, and 500 GL pepper at Rs 64,600 per quintal. In Karnataka, pepper prices range between Rs 65,600 and Rs 67,800 per quintal.
In contrast, pepper prices in Vietnam have shown an increase, rising by VND 2,000 per kg after a recent decline. Current prices in Vietnam range between VND 137,000 and VND 139,000 per kg. Despite this increase, prices have breached lower limits due to a lack of export demand, particularly as importers shift their focus from Vietnam to Brazil. Additionally, reduced demand from China is contributing to the price trends.
Looking ahead, prices in both India and Vietnam may remain stable in the near term, influenced by the ongoing harvesting in Brazil and Indonesia. However, sources indicate that global pepper production could be approximately 1.05 lakh tons lower this season, representing a 5-7% decrease due to weather anomalies. Despite this, prices across all origins are expected to remain relatively stable following a recent weakening trend.
The recent surge in prices is likely to taper off as demand at higher price points diminishes. The anticipated decrease in export demand, coupled with the onset of Brazil’s harvesting season, is expected to exert further downward pressure on pepper prices. Nevertheless, a significant decline in production is unlikely, as drought conditions are expected to keep the reduction in output substantial.
Domestic Pepper Prices (INR/Qtl):
- Ungarbled: Rs 65,600 in Kochi
- Garbled: Rs 67,600 in Kochi
- Karnataka: Rs 65,600 - Rs 67,800 in Kushalnagar and Chikamagaluru
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: MYR 7,500
(By CommoditiesControl Bureau: +91-9820130172)
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