Mumbai, June 11 (CommoditiesControl): Domestic pepper prices have surged by Rs 1,500 per quintal due to scarcity, marking a rise of Rs 4,000 per quintal over the last three sessions. This upward trend is expected to continue due to global supply and demand dynamics and rising global prices. Local traders report that farmers and stockists are hesitant to sell their produce, further driving up spot market prices.
In Cochin, garbled pepper remains stable at Rs 69,000 per quintal, while ungarbled pepper is priced at Rs 67,000 per quintal. In Karnataka, pepper prices range from Rs 67,000 to Rs 69,200 per quintal. These prices are the highest seen in eight years.
In Vietnam, prices in major provinces have risen by VND 8,000-10,000 per kg since the previous session, ranging from VND 176,000 to 180,000 per kilogram. Reduced production in Vietnam and Brazil is significantly impacting spot market prices. Vietnamese pepper prices have surged by 95% over the past three months due to tighter supply. Globally, Vietnamese prices have increased by 16.4-21%, while prices from other origins remain stable.
Domestic Pepper Prices (INR/Qtl):
- Kochi (Ungarbled): 67,000
- Kochi (Garbled): 69,000
- Kushalnagar: 67,000-69,200
- Chikamagalore: 67,200-69,000
FOB Quotes - Black Pepper (USD/MT):
- Brazil ASTA: 8,500
- Vietnam 500gl: 8,000
- Vietnam 550gl: 7,800
- Indonesia ASTA: 6,451
- Malaysia (Ringgit/MT): 4,900
(By CommoditiesControl Bureau: +91-9820130172)
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