Monthly Publication

MARKET REVIEW - MAY 2023

it.assistant@ipcnet.org 18 Jul 2023 100

PEPPER MARKET REPORT - KEY HIGHLIGHTS

World - Pepper prices in May showed a mix response with Vietnamese local black pepper reported with the highest increase.
IPC Price Index and Composite Price – Price index of pepper for the 5th month of the year reported with an increasing trend as price index of black pepper spiked significantly by 11% to 49.53 points
while slightly smaller increase was recorded by price index of white pepper with 3% to 52.49 points. Along the line, composite price of black pepper was reported with an increase of USD 365 per Mt
to USD 3,684 per Mt. Whilst, the composite price of white pepper recorded an increase by USD 159 per Mt to USD 5,432 per Mt as we saw increase in export figure from most origins.
India - After reported stable for the last three (3) months, pepper price for India reported with a decreasing trend this month.
Indonesia - Indonesian black pepper price reported stable this month whilst Indonesian white pepper reported with an increasing trend as less stock on farmer level.
Malaysia - As the Malaysian Ringgit weakened against the US Dollar (MYR 4.52 @ 1 USD) or 2% depreciation,
the Malaysian local pepper price reported with a decreasing trend this month. Whilst Malaysian international price continued to be reported stable and unchanged.
Sri Lanka - Sri Lankan local pepper price continued to be reported with an increasing trend for the last two (2) months which partially contributed
to strengthening of the Sri Lankan Rupee against the US Dollar (LKR 310.16 @ 1 USD) or 4% appreciation.
Viet Nam - Both local and international price for Vietnamese pepper reported with an increasing trend this month
as Vietnamese domestic pepper prices simultaneously increased slightly after local holiday.
US - Pepper prices continued to be reported with an increasing trend which could be contributed to the increase of demand from China,
Middle East Countries and the US market.
Highlights on the Malaysian 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 Malaysian Pepper Industry

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

OVERVIEW OF THE MALAYSIAN 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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