Mumbai, September 20 (Commodities Control): Pepper prices in the major spot markets of Karnataka and Kerala have continued to decline, reflecting a lack of demand from both domestic and export markets. Prices fell by an additional Rs 300 per quintal today, bringing the total decrease to Rs 600 per quintal over the past two sessions.
In Cochin, current prices for pepper stand at Rs 65,500 per quintal for ungarbled pepper, Rs 67,500 for garbled pepper, and Rs 64,500 for 500 gl pepper. In Karnataka, prices range from Rs 65,500 to Rs 67,700 per quintal, indicating a consistent trend across the region.
Meanwhile, Vietnam's pepper prices have also dropped, with a reduction of VND 1,000 per kg, bringing the prices to between 147,000 and 149,000 VND. Weak demand at elevated prices, coupled with ongoing harvesting activities in Brazil and Indonesia, is exerting downward pressure on global pepper prices.
FOB prices have shown mixed results, with declines noted in Brazil but increases in Indonesia. The completion of the harvest in Brazil and Indonesia is approaching, with Brazil's harvest expected to finish sooner than anticipated due to high mercury levels.
Market analysts predict that domestic prices may experience a few more sessions of decline following a recent uptick. However, a longer-term upward trend is expected to resume. Increased imports from Vietnam and Brazil are anticipated to have a short-term negative impact on prices.
Current Market Prices (INR per Qtl):
- Kochi:
- Ungarbled: 65,500
- Garbled: 67,500
- 500 gl: 64,500
- Karnataka:
- Kushalnagar: 65,600–67,800
- Chikamagalore: 65,500–67,800
FOB Quotes (USD/MT):
- Brazil ASTA: 6,900
- Vietnam 500gl: 6,800
- Vietnam 550gl: 7,100
- Indonesia ASTA: 7,715
- Malaysia: 8,800 (Ringgit/MT)
(By CommoditiesControl Bureau; +91-9820130172)
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