Mumbai, March 11 (Commoditiescontrol): Pepper prices in major domestic markets remained relatively stable, while Vietnamese prices experienced a decline.
In major domestic markets, pepper prices have stabilized, hovering around Rs 49,100 to Rs 51,100 per quintal for ungarbled and garbled pepper, respectively, in Cochin. Similarly, prices in Karnataka ranged from Rs 49,400 to Rs 51,800 per quintal. Despite the stability, prices have witnessed a decline of nearly Rs 18,000-20,000 per quintal since their peak. Weak domestic and export demand, coupled with rising output, are contributing to the pricing pressure. The garbled pepper prices in Cochin have been reported at Rs 51,100 per quintal, while ungarbled peppers cost Rs 49,100.
Contrastingly, in Vietnam, pepper prices fell by VND 1,000 per kg, ranging from VND 92,500 to VND 95,000 per kg. This follows a sharp increase last week, where prices rose by nearly 12,000-15,000 per kg over the last 15-20 sessions. Vietnam is expected to produce 170,000 tons in 2024, reflecting a 10.5% decrease from the previous year. However, demand remains high, supported by a thin pipeline in upcountry and port warehouses. Additionally, field updates indicate that production may be lower than initially expected, further supporting prices.
Global FOB prices have remained stable overall, with a slight increase in Indonesia and stability in other major origins.
Domestic Quotes (INR/Qtl):
- Kochi Ungarbled: Rs 41,100
- Kochi Garbled: Rs 51,100
- Kushalnagar: Rs 49,500-51,800
- Chikamagalore: Rs 49,400-51,600
FOB Quotes - Black Pepper (USD/MT):
- Brazil ASTA: $4,400
- Vietnam 500gl: $4,100
- Vietnam 550gl: $4,200
- Indonesia ASTA: $3,992
In Malaysia, the FOB price is reported in Ringgit at $4,900 per MT.
(By CommoditiesControl Bureau; +91-9820130172)
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