Mumbai, November 8 (Commodities Control): Pepper prices in Kerala and Karnataka's primary markets held steady following a recent minor recovery, as demand remained subdued over the last 2-3 sessions. This stagnation, combined with an oversupply of imports from Sri Lanka, suggests potential downward pressure in the coming days, according to local market sources.
In Cochin, ungarbled pepper is priced at ₹64,000 per quintal, while garbled pepper is at ₹66,000 per quintal. The cost of 500g quality pepper is ₹63,000 per quintal. In Karnataka, pepper prices varied slightly, ranging from ₹63,700 to ₹66,000 per quintal. Farmers report favorable domestic crop conditions, suggesting a good harvest outlook this season.
Meanwhile, pepper prices in Vietnam have also stabilized after a recent dip, with current prices fluctuating between VND 140,000 and VND 141,000 per kg. As Vietnam's coffee harvest season begins, pepper farmers are likely to sell stocks to secure funds for the harvest. However, reduced stock levels are sustaining prices in Vietnam’s spot markets.
According to the Vietnam Pepper and Spice Association (VPSA), Vietnam exported 18,493 tons of pepper in October, with total exports for the year reaching 219,387 tons by the end of October. This includes 193,892 tons of black pepper and 25,495 tons of white pepper.
Export demand from major markets like China and India remains weak, while the ongoing pepper harvest in Brazil has shifted importer attention there, adding pressure to global prices. Current FOB prices are as follows:
- Brazil ASTA: USD 6,300 per MT
- Vietnam 500gl: USD 6,500 per MT
- Vietnam 550gl: USD 6,800 per MT
- Indonesia ASTA: USD 6,706 per MT
- Malaysia: MYR 8,500 per MT
Despite a temporary festive demand boost, prices are anticipated to soften further in the near term due to oversupply from imports and muted export demand from India.
(By CommoditiesControl Bureau; +91-9820130172)
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