Monthly Publication

MARKET REVIEW - MAY 2025

it.assistant@ipcnet.org 30 Jun 2025 104

PEPPER MARKET REPORT - KEY HIGHLIGHTS

Global - Pepper prices in May 2025 exhibited mixed trends. Notably, Notably, price weaknesses in the US and Canadian markets contributed to increased selling pressure from producing countries.
IPC Price Index and Composite Price – The IPC Price Index for May 2025 exhibited contrasting movements, with the Black Pepper Price Index declining by 2.5% to 92.35 points, while the White Pepper Price Index recorded a marginal increase of 0.2% to 90.91 points. In terms of composite prices, black pepper fell by USD 174 per metric ton to USD 6,869/MT, whereas white pepper rose by USD 18 per metric ton to USD 9,408/MT. Notably, major producing countries such as Brazil and Indonesia posted significant price increases of 38% and 42% respectively, while China and Vietnam experienced considerable declines of 42% and 12%.
India - Following three months of steady upward momentum, both domestic and international prices of Indian pepper declined in May 2025.
Indonesia - Domestic and international prices of Indonesian pepper recorded an upward trend. This was partly attributed to a 2% appreciation of the Indonesian Rupiah, which is now valued at IDR 16,418 per US Dollar. However, trading activity remained subdued with fewer reported transactions.
Malaysia - While domestic white pepper prices in Malaysia remained stable, other Malaysian pepper prices had already declined during April 2025.
Sri Lanka - The domestic price of Sri Lankan pepper continued its upward trend for the fourth consecutive month.
Viet Nam – Both domestic and international prices of Vietnamese pepper fell, marking the second consecutive month of decline.
Others - Brazilian black pepper prices declined for the second consecutive month, while prices of Cambodian black pepper and Chinese white pepper remained stable and unchanged.
Further highlights on India\'s recent developments and performance will be featured in a dedicated section.

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 INDIA PEPPER INDUSTRY

Monthly FOB Price of the Indian Pepper during 2023 - 2025* (USD/Mt)

OVERVIEW OF THE INDIA 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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