Mumbai, June 13 (Commodities Control): Following a recent surge, pepper prices in the major domestic markets have stabilized, trading at their highest levels in eight years. Local traders report that farmers and stockists are reluctant to sell, contributing to the elevated spot market prices.
In Cochin, garbled pepper remains stable at Rs 70,500 per quintal, while ungarbled pepper is priced at Rs 68,500 per quintal. In Karnataka, pepper prices range from Rs 68,500 to Rs 70,800 per quintal. The hesitation to sell amidst concerns about global production has helped sustain these high prices.
In contrast, Vietnam has seen a sharp decline in pepper prices due to weak demand at the higher price points. After doubling over the past three months, prices in Vietnam have fallen significantly, dropping by VND 19,000-20,000 per kilogram today. This decline comes as a result of profit booking following the recent price surge.
Despite reduced production in Vietnam and Brazil, which has generally driven up spot market prices, the immediate demand weakness has led to this correction. Prices in the major Vietnamese provinces now range from VND 165,000 to 168,000 per kilogram. Globally, pepper prices remained mostly stable except in Brazil, where they saw a 3% decline.
Domestic Pepper Prices (INR/Qtl):
- Kochi: - Ungarbled: Rs 68,500; Garbled: Rs 70,500
- Kushalnagar: Rs 68,500 - Rs 70,600
- Chikamagalore: Rs 68,400 - Rs 70,800
FOB Pepper Prices (USD/MT):
- Brazil ASTA: $8,300
- Vietnam 500gl: $8,000
- Vietnam 550gl: $7,800
- Indonesia ASTA: $6,452
- Malaysia: MYR 4,900
(By CommoditiesControl Bureau: +91-9820130172)
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