Mumbai, January 21 (CommoditiesControl): Pepper prices in key markets of Kerala and Karnataka have remained stable for the second consecutive session, following a sharp drop last week. Despite an increase in arrivals, strong demand has helped maintain price stability. However, prices have remained volatile over the past fortnight due to sporadic demand. Market sources suggest that concerns about production are supporting prices, but weak demand continues to weigh on them.
In Cochin, the price for a quintal of ungarbled pepper was reported at Rs 63,900, while garbled pepper was priced at Rs 65,900 per quintal. The price for 500 gl pepper was Rs 62,900 per quintal. In Karnataka, prices ranged from Rs 63,800 to Rs 66,100 per quintal. Prices were supported by strong demand despite an increase in auctioned quantity, with approximately 29.5 tons traded today, compared to 25 tons in the previous session.
In Vietnam's major pepper-producing provinces, prices remained stable, ranging from VND 145,000 to 146,000 per kilogram. Lower global bids, particularly from India, have kept prices in check. Global FOB prices remained mostly stable, except in Indonesia and Brazil, where prices fell by 1-3% due to weak demand.
Although prices have started to decline in the past week, this trend may continue in the short term. However, the upcoming Ramadan season is expected to moderate any sharp declines in prices, as demand typically picks up during this period.
Current Pepper Prices:
- Kochi (INR/Qtl):
- Ungarbled: Rs 63,900
- Garbled: Rs 65,900
- 500gl: Rs 62,900
- Karnataka (INR/Qtl):
- Kushalnagar: Rs 63,800–66,100
- Chikamagalore: Rs 63,800–66,000
FOB Quotes (USD/MT) for Black Pepper:
- Brazil ASTA: $6,150
- Vietnam 500gl: $6,350
- Vietnam 550gl: $6,650
- Indonesia ASTA: $7,112
- Malaysia: 8,700 Ringgit/MT
(By CommoditiesControl Bureau; +91-9820130172)
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