Mumbai, January 17 (CommoditiesControl): Pepper prices in both domestic markets and Vietnam have continued to decline after a sharp surge the previous week. In Kerala and Karnataka, the key markets have seen prices drop by Rs 200 per quintal since the start of this week, bringing the total fall to Rs 600 per quintal from recent peak levels. The ongoing decline is primarily driven by insufficient demand, and prices are expected to remain under pressure once the harvest begins.
In Cochin, the price of ungarbled pepper stands at Rs 64,000 per quintal, while garbled pepper is priced at Rs 66,000 per quintal. The 500-gl variety is priced at Rs 63,000 per quintal. In Karnataka, prices range between Rs 64,000 and Rs 66,200 per quintal, with dull demand leading to a drop in traded volumes. Around 20 tons of pepper were traded today, compared to 28 tons on the previous day.
In Vietnam, pepper prices also continued to slide, with prices dropping by VND 500 per kilogram in some regions. Current prices range between VND 145,000 and VND 146,500 per kilogram. The global decline in bids, particularly from India, has put downward pressure on costs. Global FOB prices have remained relatively stable across different origins, with prices gradually falling over the past three sessions.
Despite this, the ongoing demand during the Ramadan and Lunar New Year periods is expected to curb the sharp price decline.
Kochi (INR/Qtl):
- Ungarbled: Rs 64,000
- Garbled: Rs 66,000
- 500-gl: Rs 63,000
Karnataka (INR/Qtl):
- Kushalnagar: Rs 64,000–66,200
- Chikmagalore: Rs 64,000–66,200
FOB Quotes (USD/MT) for Black Pepper:
- Brazil ASTA: USD 6,350
- Vietnam 500-gl: USD 6,350
- Vietnam 550-gl: USD 6,650
- Indonesia ASTA: USD 7,142
- Malaysia: MYR 8,700
(By CommoditiesControl Bureau; +91-9820130172)