Mumbai, June 28 (CommoditiesControl): Pepper prices in major domestic markets have risen by Rs 300 per quintal after remaining weak for four sessions. The price increase is driven by lower supply and the reluctance of farmers and stockists to sell their produce, which is expected to maintain price stability.
Reports of recent rainfall, including floods and excess rains in pepper-growing regions, are seen as beneficial for crop development, provided there is no significant damage from landslides.
Current market rates for garbled pepper in Cochin are Rs 69,600 per quintal, while ungarbled pepper is priced at Rs 67,600 per quintal. In Karnataka, pepper prices range between Rs 67,500 and Rs 69,800 per quintal.
According to the latest April EXIM numbers, exports have increased by 48.5% to 1,485 metric tons (MT), while imports have decreased by 22.5% to 1,728 MT. This trend of higher exports and lower imports is attributed to global scarcity.
In the Vietnamese market, pepper prices have stabilized after a significant drop of VND 40,000-45,000 per kilogram from recent highs. Prices in major provinces now range from VND 145,000 to 146,000 per kilogram. Despite recent stability, prices are expected to rise in the coming days due to the ongoing scarcity. Global pepper prices have remained mostly stable, with a slight increase reported in Indonesia.
Domestic Quotes (INR/Qtl)
- Kochi: Ungarbled: 67,600; Garbled: 69,600
- Kushalnagar: 67,500-69,600
- Chikamagalur: 67,500-69,700
FOB Quotes - Black Pepper (USD/MT)
- Brazil ASTA: 7,300
- Vietnam 500gl: 7,550
- Vietnam 550gl: 7,000
- Indonesia ASTA: 6,500
- Malaysia (Ringgit/MT): 7,500
(By CommoditiesControl Bureau: +91-9820130172)
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