Mumbai, October 07 (CommoditiesControl): Pepper prices in major markets across Kerala and Karnataka have remained stable for the second consecutive session. Sellers have shown inactivity following a significant drop of Rs 1,800-2,000 per quintal from recent peaks. While Brazilian production is anticipated to be lower this year, Vietnam's output is expected to be similar to last year or only slightly higher, largely due to a lack of replanting over the past 4-5 years driven by low prices. This has contributed to sellers remaining on the sidelines.
In Cochin, ungarbled pepper is priced at Rs 64,600 per quintal, while garbled pepper is at Rs 66,600. For 500-gram pepper, the price is Rs 63,600. In Karnataka, prices range between Rs 64,500 and Rs 66,700 per quintal, depending on the region. Farmer interactions indicate that crop conditions have been favorable, and good rainfall is expected in the coming fortnight, which should aid in peppercorn development.
In contrast, Vietnam experienced a slight price decline of VND 500 per kg, with prices now ranging between VND 146,500 and 147,500 per kg due to weak export demand. Over the past month, Vietnamese pepper prices have fluctuated between VND 147,000 and 155,000 per kg, raising questions about the sustainability of the lower price band.
FOB prices have largely remained stable, although Indonesia saw a 1.2% drop due to reduced supplies. Harvesting in Central South Brazil and Indonesia is nearing completion, which is putting pressure on export prices, while harvesting in northern Brazil is set to begin this week.
Looking ahead, domestic pepper prices are expected to stay within a broad range, maintaining a positive bias. Although prices may face short-term pressure, analysts anticipate a rebound to new highs in the future.
Current Prices in Kochi (INR per Qtl):
- Ungarbled: 64,600
- Garbled: 66,600
- 500g: 63,600
Current Prices in Karnataka (INR per Qtl):
- Kushalnagar: 64,500–66,600
- Chikamagalore: 64,500–66,700
FOB Quotes (USD/MT):
- Brazil ASTA: 6,850
- Vietnam 500g: 6,800
- Vietnam 550g: 7,100
- Indonesia ASTA: 6,702
- Malaysia: 8,900 (Ringgit/MT)
(By CommoditiesControl Bureau; +91-9820130172)
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