Mumbai, December 6 (Commodities Control): Domestic pepper prices have rebounded sharply in Kerala and Karnataka markets after a significant slump over the last 8–10 sessions. Prices surged by ₹2,100 per quintal following reports of a 15-20 day delay in harvesting due to excessive rains, which affected panicle initiation.
Currently, ungarbled pepper is priced at ₹64,100 per quintal in Kochi, while garbled pepper fetches ₹66,100. In Karnataka, prices range between ₹64,000 and ₹66,200 per quintal. Despite the delays, farmers report favorable domestic agricultural conditions, raising optimism for a successful harvest season.
In contrast, Vietnamese pepper markets are experiencing a decline, with prices falling by VND 2,000 per kg, ranging between VND 140,000 and VND 141,000. Weak export demand and limited stock availability have contributed to this drop, although similar harvesting delays are expected.
FOB prices have remained steady across most origin countries, except for Indonesia, where prices saw a slight uptick. Vietnam's quotes for 500gl and 550gl pepper are currently at $6,200/MT and $6,500/MT, respectively, while Brazil ASTA is priced at $6,225/MT. Indonesian ASTA commands $6,703/MT, and Malaysia’s pepper is quoted at 8,400 Ringgit/MT.
Domestic prices are expected to stabilize as harvesting begins in January in India and Vietnam. However, Vietnam's declining quotes are likely to influence domestic markets, potentially dampening any strong rally in prices.
The combination of delayed harvesting and favorable conditions suggests a season of gradual recovery, but global trends, particularly in Vietnam, will play a crucial role in determining the trajectory of domestic pepper markets.
(CommoditiesControl Bureau; +91-9820130172)
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