Mumbai, April 01 (Commodities Control): Pepper prices in major domestic markets have witnessed a notable recovery, marking an increase of Rs 800 per quintal. This surge follows a total increase of Rs 3,000 per quintal from recent lows. However, despite this upward movement, prices have still experienced a significant decline of nearly Rs 10,000 per quintal from their peak. This downward trend can be attributed to lower export demand coupled with harvesting pressure.
In specific markets like Cochin, garbled pepper is reported to be priced at Rs 54,800 per quintal, while ungarbled pepper is priced at Rs 52,800. In Karnataka, prices ranged from Rs 53,000 to Rs 55,000 per quintal.
Meanwhile, the Ministry of Commerce released EXIM figures for January, revealing a substantial 42% increase in exports totaling 1,770 MT. This surge was driven by stronger imports from the United States and the European Union. However, despite this monthly increase, exports between April and January witnessed a 9.0% decrease compared to the previous year. Imports totaled 2,660 MT, with a significant portion originating from Sri Lanka.
In Vietnam, pepper prices experienced a decline of VND 1,000 per kg, trading between VND 92,500 and 95,000 per kg. This drop is expected to persist as arrivals peak. Meanwhile, global FOB prices exhibited mixed trends, with Indonesia trading higher and Brazil closing lower.
Domestic Quotes (INR/Qtl):
- Kochi: Ungarbled - 52,800; Garbled - 54,800
- Kushalnagar: 53,000-55,000
- Chikamagalore: 52,800-54,800
FOB Quotes - Black Pepper (USD/MT):
- Brazil ASTA: 4,450
- Vietnam 500gl: 4,200
- Vietnam 550gl: 4,300
- Indonesia ASTA: 4,453
- Malaysia: (Ringgit/MT) 4,900
(CommoditiesControl Bureau; +91-9820130172)
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