Mumbai, October 8 (Commodities Control): Pepper prices in major markets across Kerala and Karnataka have remained stable for the third consecutive session, as sellers have become inactive following a significant drop of Rs 1,800-2,000 per quintal from previous peak levels.
In Cochin, ungarbled pepper is priced at Rs 64,600 per quintal, while garbled pepper is at Rs 66,600, and 500 gl pepper is selling for Rs 63,600. In Karnataka, prices range between Rs 64,500 and Rs 66,700. Farmers report that crop conditions have been favorable, with good rainfall expected in the next fortnight, which should enhance peppercorn development.
In contrast, prices in Vietnam have decreased, with a drop of VND 500 per kilogram, now ranging from VND 146,000 to 147,000 due to weakened export demand. This marks a breach of the broader price range of VND 147,000 to 155,000 per kilogram seen in previous sessions. It remains to be seen whether these lower prices can be sustained or if a recovery is imminent in the coming days.
FOB prices have remained largely stable, with the exception of Brazil, where prices fell by 1.5% due to the ongoing harvest. Harvesting in northern Brazil is set to begin this week, and early assessments suggest a promising crop, which could exert downward pressure on prices in the near term.
Overall, domestic pepper prices are expected to remain within a broad range but with a downward bias. Short-term price pressures may persist due to the harvest season and reduced export demand from India.
In Kochi, the prices per quintal are as follows: ungarbled pepper at Rs 64,600, garbled at Rs 66,600, and 500 gl pepper at Rs 63,600. In Karnataka, Kushalnagar prices range from Rs 64,500 to Rs 66,600, while Chikamagalore prices are between Rs 64,500 and Rs 66,700.
For FOB quotes in USD per metric ton, Brazilian ASTA is at $6,750, Vietnamese 500 gl at $6,800, Vietnamese 550 gl at $7,100, Indonesian ASTA at $6,706, and Malaysian prices at RM 8,900.
(By CommoditiesControl Bureau; +91-9820130172)
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