Mumbai, October 09 (CommoditiesControl): Domestic pepper prices have experienced a decline, following three sessions of stability, as prices in major markets of Kerala and Karnataka fell by Rs 200 per quintal. This drop is largely attributed to decreasing global market prices amidst ongoing harvesting activities.
In Cochin, the price for ungarbled pepper is now Rs 64,400 per quintal, while garbled pepper is priced at Rs 66,400, and 500 gl pepper at Rs 63,400. In Karnataka, prices vary between Rs 64,400 and Rs 66,500, depending on the region.
Interactions with farmers indicate favorable crop conditions, bolstered by beneficial rainfall anticipated over the next fortnight, which is expected to aid in the development of peppercorns.
In Vietnam, prices have also declined, decreasing by VND 500 per kg to a range of VND 146,000 to VND 146,500 per kilogram. This reduction is linked to diminished export demand, with recent prices previously hovering between VND 147,000 and VND 155,000. The stability of this lower price range will be closely monitored over the next few days.
Despite a recent correction, FOB prices across various origins have shown relative stability. As harvesting in northern Brazil is set to begin this week with favorable crop conditions, there may be further pressure on prices in the near term.
Overall, domestic pepper prices are expected to remain within a broad range, reflecting a downward trend. Short-term price pressures may persist due to the ongoing harvest and reduced export demand from India.
(By CommoditiesControl Bureau; +91-9820130172)
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