Mumbai, December 02 (CommoditiesControl): Pepper prices in major domestic markets, particularly in Kerala and Karnataka, have seen a continued upward trend after a sharp drop, with prices recovering by Rs 1,200 per quintal from their recent lows. The rebound in global pepper prices, particularly from key producers like Indonesia and Brazil, has played a significant role in driving up domestic prices. Additionally, the completion of the harvest season in India is supporting price stability.
In Kochi, the price for ungarbled pepper stands at Rs 63,200 per quintal, while garbled pepper is priced at Rs 65,200 per quintal. The price for 500 gl pepper is reported to be Rs 62,200 per quintal. In Karnataka, pepper prices range from Rs 63,000 to Rs 65,400 per quintal, with prices varying slightly across different regions like Kushalnagar and Chikamagalore. Farmers have reported favorable agricultural conditions in India, which suggest a successful harvest season ahead, contributing further to the positive price outlook.
Meanwhile, in Vietnam, pepper prices have also rebounded, increasing by VND 500-1,000 per kilogram, with prices ranging from VND 142,000 to VND 143,500. Despite limited stock and low export demand, prices in the Vietnamese market have remained relatively stable for the past 7-8 trading sessions.
Internationally, the recovery in global pepper prices is reflected in the rise of Free on Board (FOB) quotes in origin countries such as Brazil and Indonesia. The FOB price for Brazilian ASTA pepper has risen to USD 6,150 per metric ton, while the price for Vietnamese 500gl and 550gl pepper stands at USD 6,200 and USD 6,500 per metric ton, respectively. Indonesia's ASTA pepper is priced at USD 6,679 per metric ton, and Malaysia's FOB price is reported at 8,400 Ringgit per metric ton.
Despite the price increases in the global market, the upcoming harvest season in India and Vietnam, expected to begin in December and January, may limit any sharp upward price movements. While there are still significant stocks available, and domestic prices have been slightly impacted by the global recovery, the sharp rally in pepper prices is unlikely, as ample supply remains.
As a result, while prices may continue to experience gradual increases, market conditions suggest that the rate of growth will be tempered by ongoing harvests and substantial stock levels, keeping any major price surges in check.
(CommoditiesControl Bureau; +91-9820130172)
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