Mumbai, 6 September (CommoditiesControl): Domestic pepper prices in Karnataka and Kerala have seen a significant increase of INR 100-200 per quintal, driven by a sharp rise in global pepper prices. Local traders are reporting strong demand, but sellers remain hesitant to release stock, which is likely to sustain high prices in the near term.
In Cochin, the prices for pepper are as follows: ungarbled pepper at INR 65,800 per quintal, garbled pepper at INR 67,800 per quintal, and 500 gl pepper at INR 64,800 per quintal. In Karnataka, pepper prices are quoted between INR 65,700 and INR 68,000 per quintal. Recent rainfall in Karnataka and Kerala has been insufficient; however, after heavy rains, minimal precipitation is expected to benefit crop growth.
In Vietnam, pepper prices have surged to 149,000-150,000 VND per kilogram, marking an increase of 4,000-5,000 VND per kilogram. This rise follows a period of weak trading, with tight supply and rising global prices contributing to the upward trend. Prices in Vietnam and Brazil have remained stable at the FOB level, while Malaysia and Indonesia have quoted higher prices.
FOB Quotes (USD/MT): Black Pepper
- Brazil ASTA: USD 7,500
- Vietnam 500gl: USD 6,600
- Vietnam 550gl: USD 7,000
- Indonesia ASTA: USD 7,578
- Malaysia: MYR 8,800
Prices are anticipated to remain elevated due to widespread concerns about crop yields. As global production faces challenges and prices continue to rise, domestic prices are expected to be supported, maintaining upward trend.
(By CommoditiesControl Bureau; +91-9820130172)
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