Mumbai, March 12 (CommoditiesControl): After a recent decline, domestic pepper prices have shown a marginal recovery, boosted by good demand at current price levels. While the slump saw prices dropping by nearly Rs 18,000-20,000 per quintal from their peak, a subsequent uptick of Rs 800-1000 per quintal has been observed in major markets.
In Cochin, garbled pepper is priced at Rs 51,900 per quintal, with ungarbled peppers costing Rs 49,900. Karnataka markets report pepper prices ranging between Rs 50,200 and Rs 52,000 per quintal. The recovery is attributed to increased demand, but rising output coupled with lower export inquiries continues to put downward pressure on domestic prices.
Meanwhile, in Vietnam, pepper prices remained stable after a brief weak session, ranging from VND 92,500 to VND 95,000 per kg. Over the last 15-20 sessions, prices in Vietnam have risen by nearly 12,000-15,000 per kg. The country is expected to produce 170,000 tons in 2024, a 10.5% decrease from the previous year. High demand, coupled with a thin pipeline in upcountry and port warehouses, is supporting prices. Field updates indicate lower-than-expected production, providing additional support.
Global Free On Board (FOB) prices remained stable overall, with significant increases in most major origins except Indonesia, where prices rose slightly.
Domestic Quotes (INR/Qtl):
- Kochi: Ungarbled - 49,900, Garbled - 51,900
- Kushalnagar: 50,200-52,000
- Chikamagalore: 50,000-51,800
FOB Quotes - Black Pepper (USD/MT):
- Brazil ASTA: 4,400
- Vietnam 500gl: 4,100
- Vietnam 550gl: 4,200
- Indonesia ASTA: 3,992
- Malaysia (Ringgit/MT): 4,900
(By CommoditiesControl Bureau; +91-9820130172)
0 Comments 
Post Comment 
