Mumbai, September 9 (CommoditiesControl): Pepper prices in key markets of Karnataka and Kerala have surged by Rs 100-200 per quintal, reflecting a broader upward trend in global prices. Local traders report strong demand, but sellers are reluctant to sell, which suggests that high prices may persist in the near term.
In Cochin, the price for ungarbled pepper has reached Rs 65,900 per quintal, while garbled pepper is priced at Rs 67,900 per quintal. A 500-gram packet of pepper is available for Rs 64,900. In Karnataka, prices range from Rs 65,800 to Rs 68,200 per quintal. Recent weather conditions in the major pepper-growing regions of Karnataka and Kerala have included below-average rainfall over the past two weeks. Despite this, feedback from farmers indicates that the crop is in good condition and may benefit from one or two additional showers before the end of the monsoon.
In Vietnam, pepper prices have risen to between 152,000 and 153,000 VND per kilogram, marking an increase of 2,000-3,000 VND per kilogram. This rebound follows a weak period and is supported by tight supply and rising global prices. FOB prices for pepper from Vietnam, Malaysia, and Brazil have remained stable, while prices from Indonesia have seen a marginal decline.
Expected high prices are anticipated to continue due to widespread crop concerns and declining global output. As a result, domestic prices are likely to remain supported, with daily increases reflecting the tightening supply situation.
Current Price Overview:
- Kochi (INR per quintal): Ungarbled Rs 65,900, Garbled Rs 67,900, 500-gl Rs 64,900
- Karnataka (INR per quintal): Kushalnagar Rs 65,800–68,000, Chikamagalore Rs 65,900–68,200
FOB Quotes (USD/MT) for Black Pepper:
- Brazil ASTA: $7,500
- Vietnam 500-gl: $6,600
- Vietnam 550-gl: $7,000
- Indonesia ASTA: $7,542
- Malaysia: RM 8,800
(By CommoditiesControl Bureau; +91-9820130172)
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