Monthly Publication

MARKET REVIEW - JULY 2023

it.assistant@ipcnet.org 08 Sep 2023 82

PEPPER MARKET REPORT - KEY HIGHLIGHTS

World - Pepper prices in July showed a mix response with Vietnamese local white pepper price reported with the highest decrease.
IPC Price Index and Composite Price – IPC Price index of pepper was reported with a mixed response for the month of July as price index of black pepper recorded a marginal decrease by 0.7%
to 49.25 points. Whilst, the price index of white pepper recorded an increase by 3.3% to 53.85 points which was only 1% lower compared to the same period in 2022. Accordingly,
the composite price of black pepper also recorded a loss as it recorded USD 25 per Mt lower at USD 3,664 per Mt while the composite price of white pepper recorded a significant increase of USD 180 per Mt
to USD 5,572 per Mt. Export of pepper reported to slightly increase from origin of Brazil, and Malaysia while Viet Nam recorded a decrease of export by more than 28%.
India - The Indian pepper price continued to be reported with an increasing trend for the last two (2) months.
Indonesia - Even though the Indonesian Rupiah weakened against the US Dollar (IDR 15,044 @ 1 USD) or 1% depreciation,
Indonesian white pepper price continued to be reported with an increasing trend since last month. Whilst Indonesian black pepper price reported stable.
Malaysia - As the Malaysian Ringgit strengthened against the US Dollar (MYR 4.60 @ 1 USD) or 1% appreciation, the Malaysian local pepper price reported with
an increasing trend this month. Whilst Malaysian international price continued to be reported stable and unchanged.
Furthermore, some areas in Sarawak reported to start harvesting this month.
Sri Lanka - Even though the Sri Lankan Rupee weakened against the US Dollar (LKR 319.29 @ 1 USD) or 6% depreciation,
local price for Sri Lankan pepper reported stable this month.
Viet Nam - Vietnamese local price continued to be reported with a decreasing trend since last month,
Whilst Vietnamese international price remained stable and unchanged as the market reported quiet.
US - Black and white pepper prices continues to be reported stable from origins with more activity in the US market.
However, demand was still weak for countries like China and European Countries.
Highlights on the Sri Lankan 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 Sri Lankan Pepper Industry

Monthly Average FOB Price of Black Pepper in Sri Lanka during 2021-2023* (USD/Mt)

OVERVIEW OF THE SRI LANKAN 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:
IPC doesn\\\\\\\'t set the price of pepper; IPC only showcases the prevailing price of pepper as reported from various origins and sources. 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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