Imported white pepper, reportedly from Vietnam, is being traded in Mumbai at ₹1,025-1,100 a kg. According to traders, black pepper of foreign origin is also expected to land in the domestic market soon. Traders alleged that imported white pepper is being marketed by a close associate of a Kochi-based 100 per cent EOU. For the first time after several weeks, four tonnes of pepper were traded on Wednesday in May contract on the national exchange platform and the last traded price was at ₹71,700 a quintal. Prices on the IPSTA platform also went up by ₹1,000 a quintal each for May and June to ₹69,292 and ₹68,292 respectively.

On the spot, only three tonnes of pepper were traded at ₹710 a kg for pepper from the plains, ₹725 for High Ranges and ₹740 for Rajkumari pepper. Spot prices shot up by ₹1,500 to a new high of ₹71,500 (ungarbled) and ₹73,500 (garbled) a quintal. Export prices touched $13,000 (c&f) for Europe and $13,250 a tonne (c&f) for the US.

Meanwhile, taking cues from the Indian futures market Vietnamese farmers and collectors are reportedly holding back their produce. Vietnam, the top producer and main player in the pepper market, has been keenly following the Indian exchange.

Overseas pepper markets remained quiet and yet very steady after the various holidays and ASTA convention. The overall feeling is bullish. Buyers in the US/Europe are basically holding back, as they have goods in the pipelines and are not reportedly in a panic. Brazil is following Vietnam’s lead, with limited stocks. The Indian exchange prices, though limited in volumes, are touted through the market. Prices have exceeded $13,225 a tonne cif basis, they said. Indonesia continues to report a poor crop starting late June/early July. Quotes for new crop were in the range of $8,900-9,050 a tonne c&f New York.

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