Mumbai, September 13 (CommoditiesControl): Pepper prices in both domestic and Vietnamese markets have maintained stability, reflecting a cautious yet steady trading environment. Despite recent fluctuations, the market is expected to remain firm, influenced by global trends and local supply constraints.
In Karnataka and Kerala, pepper prices have held steady for the third consecutive session. Following a recent surge in prices, buyers are exercising caution, and both stockists and farmers are hesitant to sell. As a result, pepper prices are anticipated to stay high in the near term. In Cochin, the current prices are:
- Ungarbled Pepper: Rs 66,100 per quintal
- Garbled Pepper: Rs 68,100 per quintal
- 500 g of Pepper: Rs 64,900
In Karnataka, prices range between Rs 66,000 and Rs 68,300 per quintal. This stability in domestic prices is coupled with increased imports from Brazil and Vietnam, yet strong demand continues to support high price levels.
In Vietnam, pepper prices have stabilized after a recent rise, with current rates ranging from 153,000 to 156,000 VND per kilogram. The stability in Vietnamese prices is attributed to tight supply and rising global prices, which are expected to further drive up domestic prices in the coming days. The stability of FOB (Free on Board) prices across various origins underscores the consistency in the global market.
FOB Quotes (USD/MT):
- Brazil ASTA: $7,400
- Vietnam 500gl: $6,800
- Vietnam 550gl: $7,100
- Indonesia ASTA: $7,557
- Malaysia: RM 8,800
Despite a steady rise, domestic pepper prices might experience brief periods of stability with a slight downward bias before resuming their upward trajectory. The market is unlikely to see drastic drops due to ongoing crop concerns in Brazil, exacerbated by a severe drought. Moreover, the rising global prices are likely to support the stability of domestic prices.
(By CommoditiesControl Bureau; +91-9820130172)
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