Monthly Publication

MARKET REVIEW - DECEMBER 2022

it.assistant@ipcnet.org 20 Feb 2023 50

PEPPER MARKET REPORT - KEY HIGHLIGHTS

World - Pepper prices in the last month of 2022 showed a mixed response.
IPC Price Index and Composite Price - 2022 was closed with the pepper price index and composite price of pepper reported with a negative outlook
as the price index of black pepper reported with a decrease of 1.1% at 42.80 points. Whilst the price index of white pepper recorded a slightly higher decrease by 1.7% at 50.07 points.
Composite price of black pepper recorded a loss of USD 34 per Mt while composite price of white pepper lost USD 90 per Mt. The annual average of composite price of black
and white pepper in 2022 were reported with a loss of 2% and 1% respectively as compared with 2021.
India - Eventhough the Indian Rupee weakened against the US Dollar (INR 82.51 @ 1 USD), recording a 1% depreciation,
pepper price for India reported with an increasing trend this month.
Indonesia - After reported with a decreasing trend for the last two (2) months, pepper price for Indonesia reported with an increasing trend this month result of less stock as well as some export delayed due to bad weather.
Malaysia - Malaysian local price reported positive this month which partially could be contributed to the strengthening of the Malaysian Ringgit
against the US Dollar (MYR 4.41 @ 1 USD), recording 5% appreciation. Furthermore, after reported stable for the last two (2) months,
Malaysian international black pepper price reported negative this month. Whilst the Malaysian international white pepper price continued to be reported stable and unchanged.
Sri Lanka - Sri Lankan pepper price continues to respond negative this month.
Viet Nam - Only Viet Nam local white pepper reported stable this month. Whilst the others continued to be reported with a decreasing trend for the last four (4) months.
Furthermore, Chairman of the People\'s Committee of Krong Nang Regency (Dak Lak Province) commented that pepper area in 2022 decreased
when compared to 2020 due to low selling prices and plant diseases, forcing farmers to switch to planting coffee and other fruit crops with higher value.
US - US Market price decreased for the last two (2) weeks. Whilst, this week pepper price was reported stable
from origins which could be contributed to the local currency being slightly better after the Fed plan to increase their rate
Highlights on the Cambodian 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 CAMBODIAN 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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