Monthly Publication

MARKET REVIEW - NOVEMBER 2024

it.assistant@ipcnet.org 23 Dec 2024 100

PEPPER MARKET REPORT - KEY HIGHLIGHTS

World - The pepper prices in November showed a rather negative outlook with only Sri Lanka local black pepper reported with an increase.
IPC Price Index and Composite Price – Price index of pepper for the 11th month of 2024 was reported negatively as price index of black pepper reported at 88.72 points, thus, recording a drop of 4.3%, whereas the price index of white pepper was reported with a slightly lower decrease of 2.4% to 88.28 points though both price index of black and white pepper were still relatively higher than the average price index in 2023 which was between 48 – 53 points. Following the trend, composite price of black pepper was also reported less, as it recorded a dip by US$ 294 per Mt to US$ 6,599 per Mt. Whilst, composite price of white pepper reported at US$ 9,135 per Mt or recording a drop by US$ 228 per Mt. World pepper trade up to the 11th month of 2024 continued to be reported with a mix response as two of the biggest exporters Brazil and Viet Nam were reported to have exported fewer pepper when compared to the previous year as they recorded 22% and 3% dip respectively whereas Indonesia up to October had exported over 85% exceeding the annual export 0f 2023.
India - The Indian pepper price continued to be reported with a decreasing trend since last month.
Indonesia - As the Indonesian Rupiah weakened against the US Dollar (IDR 15,820 @ 1 USD) or 2% depreciation, both local and international price for Indonesian pepper reported with a decreasing trend this month as some pepper plants started to flower.
Malaysia - Both local and international price for Malaysian pepper reported with a decreasing trend this month which partially could be contributed to the weakening of Malaysian Ringgit against the US Dollar (MYR 4.44 @ 1 USD) or 3% depreciation.
Sri Lanka - As the Sri Lankan Rupee strengthened against the US Dollar (LKR 292.01 @ 1 USD) or 3% appreciation, the local price for Sri Lankan pepper reported with an increasing trend for the last three (3) months.
Viet Nam – Both local and international price for Vietnamese pepper reported with a decreasing trend this month.
Others - Brazilian black pepper and Cambodian black pepper as well as Chinese white pepper also reported with a decreasing trend this month.
US - Highlight on USA Spot Price 2020-2024.

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

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

FARM GATE PRICE FOR BLACK PEPPER - in US$/Mt

FOB PRICE FOR BLACK PEPPER - in US$/Mt

FARM GATE PRICE FOR WHITE PEPPER - in US$/Mt

FOB PRICE FOR WHITE PEPPER - in US$/Mt

The USA Spot Black and White Monthly Pepper Price during 2020 - 2024

The USA Spot Black and White Monthly Pepper Price during 2020 - 2024

Highlight on USA Spot Price 2020 - 2024

 

 

 

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.

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