Mumbai, December 5 (CommoditiesControl): After a recent slump, pepper prices in major domestic markets of Kerala and Karnataka have rebounded strongly, recovering nearly all their losses over the past 8-10 sessions. Prices surged by ₹2,000 per quintal following reports of a delay in harvesting due to excessive rains. The delay in panicle initiation is not only affecting India but also Vietnam, supporting price recovery in both domestic and global markets.
In Cochin, ungarbled pepper is priced at ₹64,000 per quintal, garbled pepper at ₹66,000 per quintal, and 500 gl pepper at ₹63,000 per quintal. Karnataka markets report prices ranging from ₹64,000 to ₹66,200 per quintal, with Chikamagalore fetching the higher end of the range. Farmers expect favorable domestic agricultural conditions to result in a successful harvest season.
In contrast, Vietnamese pepper prices have dropped by VND 2,000-3,000 per kg, ranging between VND 142,000 and VND 143,000 due to weak export demand. However, supply constraints and a 15-20 day delay in the harvest are keeping global FOB prices stable. For instance, Vietnam's 500 gl and 550 gl pepper are priced at $6,200/MT and $6,500/MT respectively, while Brazil's ASTA grade trades at $6,225/MT.
Harvesting in India and Vietnam is expected to begin in December and January, potentially capping further price hikes. Market sentiment indicates limited potential for a strong rally given adequate stock levels, with falling Vietnamese quotes likely to influence domestic markets soon.
(CommoditiesControl Bureau; +91-9820130172)
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