Monthly Publication

MARKET REVIEW - FEBRUARY 2023

it.assistant@ipcnet.org 11 Apr 2023 83

PEPPER MARKET REPORT - KEY HIGHLIGHTS

World - Pepper prices in February showed a mix response with Malaysian local black pepper reported with the highest increase.
IPC Price Index and Composite Price - As China import recorded an increasing trend, Index of Pepper reported with a mix response
with Index of Black Pepper recorded a marginally increase by 1.8% to 45.91 points. Whilst, index of White Pepper reported with a 4% decrease to 51.06 points.
Composite price of pepper was reported with a similar trend as composite price of Black Pepper recorded a USD 61 per Mt increase to USD 3,415 per Mt
while composite price of White Pepper reported at USD 5,283 per Mt losing USD 220 per Mt.
India - After reported with an increasing trend for the last two (2) months, pepper price for India reported with a decreasing trend this month
which partially contributed to the weakening of Indian Rupee weakened against the US Dollar (INR 82.63 @ 1 USD) or 1% depreciation.
Indonesia - Indonesian black pepper price reported with an increasing trend this month. Furthermore, after reported with an increasing
trend for the last two (2) months, the Indonesian white pepper price reported with a decreasing trend this month.
Malaysia - Even though the Malaysian Ringgit weakened against the US Dollar (MYR 4.37 @ 1 USD) or 1% depreciation,
Malaysian local price continued to be reported positive for the last three (3) months. Furthermore,
Malaysian international price remained stable and unchanged.
Sri Lanka - Sri Lankan pepper price reported stable this month.
Viet Nam - Only Vietnamese local black pepper price reported with a decreasing trend this month. Whilst, the others reported
with an increasing trend as Viet Nam is currently harvesting.
US - The US Market prices reported with China showed a significant increase in the demand for black and white pepper.
The increase in demand led to a boom in the pepper market.
Highlights on the Vietnamese 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 VIETNAMESE PEPPER INDUSTRY

Monthly Average FOB Price of Black and White Pepper in Viet Nam during 2021-2023* (USD/Mt)

Overview of The Vietnamese 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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