Mumbai, October 03 (CommoditiesControl): Pepper prices in the major markets of Kerala and Karnataka have remained stable, with sellers largely inactive following a significant price drop of Rs 1,800-2,000 per quintal from recent highs. In Brazil, production is reportedly lower, while Vietnam may see production remain on par with last year or experience a marginal increase, as replanting has not occurred in the last 4-5 years due to persistently low prices. This has contributed to the inactivity among sellers.
In Cochin, the current prices are as follows:
- Ungarbled Pepper: Rs 64,600 per quintal
- Garbled Pepper: Rs 66,600 per quintal
- 500 g of Pepper: Rs 63,600
In Karnataka, prices range between Rs 64,500 and Rs 66,700 per quintal. Farmer reports indicate that crop conditions have been favorable, with good rains expected in the coming fortnight, which should aid in the development of peppercorns.
Meanwhile, in Vietnam, pepper prices fell by VND 500-1,000 per kilogram in some provinces, while others remained stable. Current prices in major provinces range from VND 147,000 to 148,000 per kilogram, with the last month seeing prices fluctuate between VND 147,000 and 155,000 per kilogram. Market observers are watching closely to see if the lower price threshold will be breached.
FOB prices have generally remained stable, except for Brazil, where they increased by 2.2% due to lower supplies. Harvesting in Central South Brazil and Indonesia is nearing completion, creating upward pressure on export prices, while harvesting in North Brazil is set to begin this week.
Looking ahead, domestic pepper prices are expected to maintain a broad range with a positive bias. While there may be slight pressure in the short term, prices are projected to rise eventually, potentially reaching new highs.
Current Price Summary:
Kochi (INR per Qtl)
- Ungarbled: Rs 64,600
- Garbled: Rs 66,600
- 500 g: Rs 63,600
Karnataka (INR per Qtl)
- Kushalnagar: Rs 64,500–66,600
- Chikamagalore: Rs 64,500–66,700
FOB Quotes (USD/MT): Black Pepper
- Brazil ASTA: $6,850
- Vietnam 500gl: $6,800
- Vietnam 550gl: $7,100
- Indonesia ASTA: $6,826
- Malaysia: 8,900 Ringgit/MT
(By CommoditiesControl Bureau; +91-9820130172)
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