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Pepper Prices Remain Steady Despite Recent Gains Amid Global Supply Concerns

13 Jan 2025 10:56 pm
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Mumbai, January 13 (Commodities Control): After a sharp increase in prices over the last ten days, pepper prices in Kerala and Karnataka’s key markets have stabilized. On Saturday, prices rose by Rs 100 per quintal, marking a total gain of Rs 1,600 per quintal during the previous ten sessions. Market sources attribute the price surge to reports of a lower global pepper output, which has been impacting both domestic and international markets.

The price increases were fueled by adverse weather conditions affecting global pepper production. Brazil, a major producer, has seen its production impacted by higher-than-usual temperatures, while Vietnam is experiencing a delayed harvest due to persistent wet weather. These disruptions have led to concerns about global supply, pushing prices upwards.

In the major market of Cochin, a quintal of ungarbled pepper is now priced at Rs 64,700, while garbled pepper is selling for Rs 66,700. The price for 500 gl pepper has been reported at Rs 63,700. In Karnataka, the price range is between Rs 64,600 and Rs 66,800 per quintal, depending on quality and market fluctuations.

Despite the recent uptick in prices, global pepper prices have remained relatively steady. In Vietnam, where harvesting has begun, prices for pepper were stable in the major growing provinces, ranging between VND 147,000 and VND 149,000 per kg, even as global prices have remained unchanged for the past 4-5 sessions. However, market observers note that while global FOB prices have been steady, Indonesia saw a notable price increase of 4.4% due to tighter supply conditions.

The continued rise in prices is attributed to both lower-than-expected production and delays in harvesting, with predictions indicating that prices are likely to stabilize before potentially entering a downtrend as supply pressures begin to increase with the ongoing harvests.

For reference, global FOB prices for black pepper are as follows:
- Brazil ASTA: USD 6,350 per MT
- Vietnam 500gl: USD 6,350 per MT
- Vietnam 550gl: USD 6,650 per MT
- Indonesia ASTA: USD 7,155 per MT
- Malaysia: MYR 8,700 per MT

Market analysts anticipate that prices may remain stable in the short term but caution that an increased supply in the coming weeks may lead to a softening of prices.



(By CommoditiesControl Bureau; +91-9820130172)


       
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