Monthly Publication

MARKET REVIEW - AUGUST 2024

it.assistant@ipcnet.org 03 Oct 2024 75

PEPPER MARKET REPORT - KEY HIGHLIGHTS

World - The pepper prices in August showed a mixed response as the local currency exchange against the US Dollar recorded a relatively positive outlook.
IPC Price Index and Composite Price – IPC Price Index and Composite Price – Following the sudden peaking price of pepper in June, the price index of pepper for August recorded a gradual decreasing trend with price index of black pepper reported with a decrease of 4.1% to 88.28 points whereas price index of white pepper recorded a slightly lesser decrease of 1.6% to 83.27 points. Correspondingly, the composite price of black pepper also experienced a drop as it recorded a loss of US$ 284 per Mt at US$ 6,566 per Mt. Whilst, the composite price of white pepper reported at US$ 8,616 per Mt, recording a loss of US$ 144 per Mt. Consistent with the report of lower yield, export of pepper from Brazil was reported with 10% less when compared with the year to date up to August 2024, whereas Viet Nam and Malaysia recorded a slight 2% decrease respectively amidst the increase being reported from China, India and Indonesia.
India - The Indian pepper price reported with a decreasing trend this month
Indonesia - Only black pepper reported with an increasing trend this month. Whilst, the Indonesian white pepper reported with a decreasing trend this month.
Furthermore, as most farmers in Indonesia currently in harvest season.
Malaysia - As the Malaysian Ringgit strengthened against the US Dollar (MYR 4.42 @ 1 USD) or 6% appreciation,
both local and international price for Malaysian pepper continued to be reported with an increasing trend for the last three (3) months.
Sri Lanka - Even though the Sri Lankan Rupee strengthened against the US Dollar (LKR 300.58 @ 1 USD) or 1% appreciation,
the local price for Sri Lankan pepper reported with a decreasing trend this month.
Viet Nam –Both local and international price for Vietnamese pepper reported with decreasing trend this month.
According to KTĐT.vn, some farmers had yet to sell and choose to wait for prices to increase further.
Others - Only Cambodian black pepper reported with an increasing trend this month.
Whilst, Brazilian black pepper as well as Chinese white pepper reported with a decreasing trend this month.
US - Pepper market in US reported stable which could be contributed to the local currency exchange strengthening against the US Dollar.
Highlights on on the Cambodia 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 CAMBODIA PEPPER INDUSTRY

Monthly Export Price of the Cambodia Pepper during 2022 - 2024* (USD/Mt)

OVERVIEW OF THE CAMBODIA PEPPER INDUSTRY

 

 

 

Sources:

  • Brazil : Unofficial source (Coreimex, CSG Trade).
  • China : Hainan Pepper Association, China Spice Association.
  • India : Spices Board Govt. of India, AISEF, NCDEX, Ministry of Commerce and Industry of India.
  • Indonesia : Unofficial source, Ministry of Agriculture Republic Indonesia, Ministry of Trade of Indonesia (MOT).
  • Malaysia : Malaysian Pepper Board (MPB), Department of Statistics Malaysia (DOSM).
  • Sri Lanka : Sri Lanka Customs, Department of Export Agriculture (DEA).
  • Viet Nam : Viet Nam Pepper Association (VPA), HCMC.
  • International Trade Centre (ITC) – Geneva.
  • NAMAGRO
  • IPC database.

Notes:
IPC DOES NOT set the price of pepper; IPC only publishes the prevailing price of pepper as reported from various origins and sources. Some of the data in this publication are from the IPC Secretariat database. The data were obtained from the official reports and correspondence between the IPC and has been processed based on statistical norms that can be accounted for.

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