Mumbai, November 13 (CommoditiesControl): Pepper prices in major domestic markets of Kerala and Karnataka remained stable today, though market participants expect potential downward pressure in the coming days due to flat demand and an influx of imports. Local sources report that demand for pepper has been sluggish over the past week, and with a significant rise in Sri Lankan imports, there is an oversupply of imported pepper, which is weighing on prices.
In Kerala, the key pepper market of Cochin saw the following price levels:
- Ungarbled pepper: Rs 63,900 per quintal
- Garbled pepper: Rs 65,900 per quintal
- 500gl pepper: Rs 62,900 per quintal
In Karnataka, prices ranged between Rs 63,700 and Rs 66,000 per quintal, depending on the grade and region. Specifically, in Kushalnagar and Chikamagalore, the prices for pepper were between Rs 63,800-66,000 per quintal. Farmers report that domestic agricultural conditions have been favorable so far, suggesting that the upcoming harvest season may yield good quantities of pepper, further influencing supply dynamics.
Vietnamese Market Updates:
The Vietnamese pepper market has also seen stable pricing, with prices holding steady between VND 139,500 and VND 141,000 per kilogram. Despite stable prices, local sources suggest that as the coffee harvesting season picks up, Vietnamese farmers may sell off their pepper stocks to finance the coffee harvest, potentially increasing the available supply in the market. However, low stock levels in the domestic market are helping to keep spot prices relatively stable.
International Prices and Trends:
The global pepper market is facing a softening of prices, particularly in the FOB (Free On Board) export quotes, as demand remains weak during the harvest season. As expected, prices have been gradually declining due to an oversupply from both domestic and international sources. Indian export demand, especially to key markets, has slowed, adding further pressure to the market.
The current FOB prices for black pepper from various origins are as follows:
- Brazil ASTA: USD 6,000 per metric ton
- Vietnam 500gl: USD 6,200 per metric ton
- Vietnam 550gl: USD 6,500 per metric ton
- Indonesia ASTA: USD 6,518 per metric ton
- Malaysia: MYR 8,500 per metric ton (Malaysian Ringgit)
Overall, both domestic and international pepper markets are seeing a period of price stability, although a lack of demand, especially during the ongoing harvest season, and excess imports are likely to keep prices under pressure in the coming weeks.
(By CommoditiesControl Bureau; +91-9820130172)
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