Monthly Publication

MARKET REVIEW - JUNE 2024

it.assistant@ipcnet.org 27 Jul 2024 102

PEPPER MARKET REPORT - KEY HIGHLIGHTS

World - Most pepper prices in June showed an increasing trend with only Cambodia reported with a decrease.
IPC Price Index and Composite Price – Price index of peppers at the end of the first semester of 2024 was reported with a shocking increase as price index of black pepper recorded an increase by 43.2% to a staggering 96.62 points whereas the price index of white pepper reported with an increase of 37.6% to a high 90.66 points. Following the trend of the pepper price index, composite price of pepper recorded the highest spike in recent years as composite price of black pepper reported with a significant increase of US$ 2,167 per Mt to US$ 7,187 per Mt. whilst, composite price of white pepper recorded an increase of US$ 2,563 per Mt to US$ 9,381 per Mt. The sudden movement of the global pepper price was significantly influenced by the report of crop failure from some of the highest pepper producers in the world as well as other extenuating global factors.
India - The Indian pepper price continued to be reported with an increasing trend for the last three (3) months.
Indonesia - Event though the Indonesian Rupiah weakened against the US Dollar (IDR 16,337 @ 1 USD) or 2% depreciation, both local and international price for Indonesian pepper continued to be reported with an increasing trend since last month.
Malaysia - Both local and international price for Malaysian pepper reported with an increasing trend this month.
Sri Lanka - Even though the Sri Lankan Rupee weakened against the US Dollar (LKR 303.81 @ 1 USD) or 1% depreciation, the local price for Sri Lankan pepper reported with an increasing trend this month.
Viet Nam – Both local and international prices for Vietnamese pepper continued to be reported with an increasing trend for the last two (2) months. The increase for Vietnamese pepper could be contributed to less stock at farm gate as well as the possibility of lower yield in comparison to the previous year.
Others - Only Cambodian black pepper reported with a decreasing trend since last month. Whilst, Brazilian black pepper and Chinese white pepper reported with an increasing trend. The increase for Brazilian pepper could be contributed to some crop failure reported in Espirito Santos, Brazil, thus, shortage of stock was reported according to information from CSG Trade & COREIMEX. Furthermore, the increase of Chinese price in Hainan was due to the expectation of low production as well as speculator from China inland.
US - In US market, both black and white pepper prices reported with a significant increase with limited offers, shipping cost were still high as well as buying pressure from Europe and China.
Highlights on the Sri Lankan Pepper Industry

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

HIGHLIGHTS ON THE SRI LANKAN PEPPER INDUSTRY

Monthly Export Price of the Sri Lanka Pepper during 2022 - 2024* (USD/Mt)

OVERVIEW OF THE SRI LANKA PEPPER INDUSTRY

 

 

 

Sources:

  • Brazil : Unofficial source (Coreimex, CSG Trade).
  • China : Hainan Pepper Association, China Spice Association.
  • India : Spices Board Govt. of India, AISEF, NCDEX, Ministry of Commerce and Industry of India.
  • Indonesia : Unofficial source, Ministry of Agriculture Republic Indonesia, Ministry of Trade of Indonesia (MOT).
  • Malaysia : Malaysian Pepper Board (MPB), Department of Statistics Malaysia (DOSM).
  • Sri Lanka : Sri Lanka Customs, Department of Export Agriculture (DEA).
  • Viet Nam : Viet Nam Pepper Association (VPA), HCMC.
  • International Trade Centre (ITC) – Geneva.
  • NAMAGRO
  • IPC database.

Notes:
IPC DOES NOT set the price of pepper; IPC only publishes the prevailing price of pepper as reported from various origins and sources. Some of the data in this publication are from the IPC Secretariat database. The data were obtained from the official reports and correspondence between the IPC and has been processed based on statistical norms that can be accounted for.

Download PDF

Previous Publications

1 2 3 ...7