Mumbai, October 29 (Commodities Control): Pepper prices have experienced a modest increase in major markets, particularly in Kerala and Karnataka, attributed to rumors of a potential 15-20 day delay in the harvesting of the new crop. Following a decline of Rs 3,000-3,200 per quintal from their peak, prices rebounded by Rs 100 per quintal in today’s trading session, marking a total recovery of Rs 500 per quintal over the past week.
In Kochi, ungarbled pepper is currently priced at Rs 63,400 per quintal, while garbled pepper stands at Rs 65,400 per quintal. Additionally, the price for 500 gl quality is Rs 62,400. In Karnataka, prices range from Rs 63,200 to Rs 65,500, with reports indicating favorable domestic crop conditions and expectations of a good harvest this season.
Furthermore, the increased production in Sri Lanka may lead to higher imports to India, which could enhance supply in the Indian market and help stabilize prices.
In Vietnam, pepper prices have also risen by VND 1,500-2,000, reaching a new range of VND 145,000 to VND 146,500 per kilogram. The delay in harvesting, along with lower stocks, is bolstering prices. However, the uptick in Sri Lankan production is likely to reduce demand from Vietnam, putting downward pressure on prices.
Analysts suggest that while a short-term price recovery is anticipated due to global harvest delays, sufficient domestic supply in India and reduced export demand are expected to keep prices in check until the harvest concludes.
Price Summary:
Kochi (INR per Qtl)
- Ungarbled: 63,400
- Garbled: 65,400
- 500gl: 62,400
Karnataka (INR per Qtl)
- Kushalnagar: 63,200–65,500
- Chikamagalore: 63,200–65,400
FOB Quotes (USD/MT) for Black Pepper:
- Brazil ASTA: $6,400
- Vietnam 500gl: $6,500
- Vietnam 550gl: $6,800
- Indonesia ASTA: $6,668
- Malaysia: 8,900 MYR
(By CommoditiesControl Bureau; +91-9820130172)
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