Monthly Publication

MARKET REVIEW - JANUARY 2023

it.assistant@ipcnet.org 06 Mar 2023 176

PEPPER MARKET REPORT - KEY HIGHLIGHTS

World - Pepper prices in the first month of 2023 showed a mixed response with few countries’ exchange rates
reported to strengthen against the US Dollar.
IPC Price Index and Composite Price - The start of 2023 showed Price Index and composite price of pepper a positive outlook as the price index of black pepper recorded 5.3% hike to 45.28 points
while the price index for white pepper was reported with a much higher increase of 7.1% to 53.19 points. The composite price of black pepper recorded
a USD 171 per Mt increased at USD 3,368 per Mt. Whilst, the composite price of white pepper was reported with USD 363 per Mt spike to USD 5,504 per Mt.
India - As the Indian Rupee strengthened against the US Dollar (INR 81.77 @ 1 USD), recording a 1% appreciation,
pepper price for India continues to be reported with an increasing trend for the last two (2) months as India is currently harvesting.
Indonesia - Indonesian black pepper price reported with a decreasing trend this month.
Whilst, the Indonesian white pepper price continues to be reported with an increasing trend
since last month as demand was reported to be quite high while the stock reported to be scarce.
Malaysia - Malaysian local price continued to be reported positive since last month
which partially could be contributed to the strengthening of the Malaysian Ringgit against the US Dollar (MYR 4.33 @ 1 USD),
recording 2% appreciation. Furthermore, Malaysian international black pepper price continued to be reported negative for the last two (2) months.
Whilst the Malaysian international white pepper price remained stable and unchanged.
Sri Lanka - After reported with a decreasing trend for the last two (2) months,
the Sri Lankan pepper price responded positive this month.
Viet Nam - Viet Nam local white pepper price continues to be reported stable this week.
Whilst, the others reported with an increasing trend as market closed due to Tet Holiday.
US - Pepper prices in the US market reported to be declining during the past year of 2022
and predicted might continue through mid-year 2023.
Highlights on the Brazilian 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 BRAZILIAN PEPPER INDUSTRY

Monthly Export Price of the Brazilian Pepper during 2020-2022* (USD/Mt)

Overview of The Brazilian Pepper Industry

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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