Mumbai, November 5 (Commodity Control): Domestic pepper prices in Kerala and Karnataka's key markets increased by INR 500 per quintal as trading resumed normally today, despite demand remaining flat. Local sources report an excess of imported pepper material, which continues to weigh on prices, with additional imports expected soon from Sri Lanka.
In Cochin, the price of ungarbled pepper was INR 63,900 per quintal, garbled pepper was INR 65,900, and 500-gl pepper was priced at INR 62,900. In Karnataka, prices ranged from INR 63,700 to INR 66,000 across markets in Kushalnagar and Chikmagalur. Favorable weather has supported strong domestic crop conditions, with farmers anticipating a good harvest this season.
In Vietnam, pepper prices stabilized this week after a recent decline, trading between VND 140,000 to VND 141,000 per kilogram. Weak export demand from China and India is likely to keep Vietnamese prices under pressure. Additionally, as Brazil’s harvest continues, importers are shifting their focus there, further impacting international prices. FOB quotes for black pepper showed Brazil’s ASTA variety at USD 6,300 per metric ton, while Vietnam’s 500-gl and 550-gl varieties were priced at USD 6,500 and USD 6,800 per metric ton, respectively.
Following a short-lived boost from festive demand, domestic markets are oversupplied due to ample imports and reduced export demand from India. This, combined with ongoing harvests in Brazil and Indonesia, is expected to keep pepper prices under downward pressure in the coming sessions.
(By CommoditiesControl Bureau; +91-9820130172)
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