Mumbai, April 10 (CommoditiesControl): Domestic pepper prices have maintained stability following a recent sharp rise, contrasting with the ongoing decline noted in Vietnamese prices.
Domestic pepper prices in major Indian markets have remained steady after experiencing a notable increase of Rs 3,800 per quintal from their recent low. The stability in domestic prices can be attributed to robust demand, particularly at lower price levels. Market participants note an uptick in export demand in recent weeks, as the price differential between India and other pepper-producing countries has significantly narrowed.
In the Cochin market, garbled pepper is reported at Rs 55,600 per quintal, while ungarbled pepper is priced at Rs 53,600 per quintal. In Karnataka, pepper prices range between Rs 53,800 and Rs 56,000 per quintal.
Conversely, in Vietnam, pepper prices continue their downward trajectory, experiencing a decline of VND 1,000 per kilogram and ranging between VND 91,000 and VND 93,000 per kilogram compared to the previous session. This downward pressure is expected to persist as arrivals in the Vietnamese market are on the rise. However, global Free On Board (FOB) prices have remained stable across major origins.
Key Domestic Pepper Quotes (INR/Quintal):
- Kochi:
- Ungarbled: Rs 53,600
- Garbled: Rs 55,600
- Kushalnagar: Rs 54,200-56,000
- Chikmagalur: Rs 54,000-55,800
FOB Quotes - Black Pepper (USD/MT and Ringgit/MT):
- Brazil ASTA: $4,450
- Vietnam 500gl: $4,200
- Vietnam 550gl: $4,300
- Indonesia ASTA: $4,463
- Malaysia: RM 4,900
(CommoditiesControl Bureau; +91-9820130172)
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