Monthly Publication

MARKET REVIEW - OCTOBER 2022

it.assistant@ipcnet.org 09 Dec 2022 78

PEPPER MARKET REPORT - KEY HIGHLIGHTS

World - Pepper prices in October 2022 showed a rather negative outlook with only
Sri Lankan local price reported with an increase as most local currencies weakened against the US Dollar.
IPC Price Index and Composite Price - Pepper price index responded negatively as price index of black pepper
was reported with a 10.7% decrease to 42.95 points while price index of white pepper reported with a slighter decrease of 2.7% at 52.22 points.
Consequently, composite price of black pepper was reported at USD 3,195 per Mt recording a loss of USD 383 per Mt.
Whilst, composite price of white pepper was reported at USD 5,404 per Mt as it lost USD 151 per Mt.
India - As the Indian Rupee weakened against the US Dollar (INR 82.30 @ 1 USD), recording a 3% depreciation,
pepper price for India reported with a decreasing trend this month. In addition, increased arrivals of imported pepper
from other producing countries are reported to have hit domestically produced commodities due to lower prices in consuming markets.
Indonesia - Pepper price for Indonesia reported with a decreasing trend this month,
contributed to the weakening of Indonesian Rupiah against the US Dollar (IDR 15,435 @ 1 USD),
recording a 3% depreciation as transaction and stock remained limited at the farmer\'s level.
Malaysia - Both local and international prices for Malaysia continues to be reported negative
this month which partially could be contributed to the weakening of the Malaysian Ringgit the US Dollar (MYR 4.69 @ 1 USD),
recording 3% depreciation.
Sri Lanka - Sri Lankan pepper price responded positively this month as Sri Lanka celebrate Deepavali.
Viet Nam - Both local and international prices for Viet Nam continues to be reported negative since last month due to the weakening
of the Viet Nam Dong against the US Dollar (VND 24,303 @ 1 USD), recorded 3% depreciation. According to industry experts,
Vietnamese exporters could also take advantage of the supply shortage in the UK due to the impact of the COVID-19 pandemic,
Brexit and international sanctions against Russia which has led to supply instability and caused a shortage of goods in the UK.
US - The US market continues to be reported with a decreasing trend contributed to the weakening
of the local currency against the US Dollar as well as the limited demand from the US, EU and Canada.
Highlights on Pepper Import by the European Countries as of July 2022.

 

 

IPC Price Index (Base price: Average 2011-2015)

Composite Price of Black and White Pepper (US$/Mt)

FARM GATE PRICE BLACK PEPPER - in US$/Mt

FOB PRICE BLACK PEPPER - in US$/Mt

FARM GATE PRICE WHITE PEPPER - in US$/Mt

FOB PRICE WHITE PEPPER - in US$/Mt

Whole Pepper Import by European Countries as of July 2022

Ground Pepper Import by European Countries as of July 2022

Pepper Import by the European Countries as of July 2022

Overview of Pepper Import by European Countries as of July 2022

Sources:

  • Brazil, Unofficial source (Coreimex, CSG Trade)
  • China: Hainan Pepper Association, China Spice Association
  • India: Spices Board Govt. of India, AISEF, NCDEX, Indian Chamber of Commerce & Industry
  • Indonesia: Unofficial source, Ministry of Agriculture Republic Indonesia
  • Malaysia : Malaysian Pepper Board
  • Sri Lanka: Sri Lankan Pepper Board, Department of Export Agriculture
  • Viet Nam : Viet Nam Pepper Association, HCMC
  • International Trade Centre (ITC) - Geneva

Notes:

Some of the data in this publication are from the IPC database. The data were obtained from the official reports and correspondence between the IPC and have been processed based on statistical norms that can be accounted for.

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