Monthly Publication

MARKET REVIEW - MAY 2024

it.assistant@ipcnet.org 28 Jun 2024 94

PEPPER MARKET REPORT - KEY HIGHLIGHTS

World - The pepper prices in May continued to show a mixed response as only Cambodia black pepper reported with a decrease.
IPC Price Index and Composite Price – Price index of pepper for the month of May was reported with a significant increase as price index of black pepper was reported at 67.46 points recording
an increase by 12.8%. Whilst, price index of white pepper though lesser than black pepper still reported with a significant increase by 9.4% to 65.88 points.
Similarly, composite price of pepper was also reported with significant increase as composite price of black pepper reported at US$ 5,018 per Mt recording
an increase of US$ 569 per Mt while composite price of white pepper recorded an increase of US$ 586 per Mt to US$ 6,817 per Mt. Aside from Brazil, Malaysia
and Viet Nam, other origins namely China, India and Indonesia were reported with an increase of pepper export for the first 3 until 5 months of the 2024 with over 40%
increase respectively as compared to the same period in 2023.
India - The Indian pepper price reported with an increasing trend since last month.
Indonesia - Both local and international price for Indonesian pepper reported with an increasing trend this month
as less stock reported in circulation as well some farmers in Bangka Province kept their stock for the hope of higher prices.
Malaysia - Malaysian local price continued to be reported with an increasing trend for the last three (3) months.
Whilst the Malaysian international price continued to be reported stable and unchanged.
Furthermore, harvest season was reported in full swing in some areas of Malaysia.
Sri Lanka - After reported with a decreasing trend for the last three (3) months, the local price for Sri Lankan pepper reported stable this month.
Viet Nam – Both local and international prices for Vietnamese pepper reported with an increasing trend this month.
Furthermore, experts attributed the surge in domestic black pepper prices to a combination of supply shortages and increase
in demand from major markets such as Europe, the US and China as quoted from vietnamnet.vn
Others - Only Cambodian black pepper reported with a decreasing trend this month. Whilst, Brazilian black pepper and Chinese white pepper reported
with an increasing trend this month. The increase in Brazil price was due to reported crop failures in the state of Espírito Santo, the main pepper producing region
in Brazil because of El Niño hence farmers kept their stock. Furthermore, Prices rose sharply in Hainan due to expected low production
and strong demand from inland Chinese markets.
US - US market reported with increase due to the increase of shipping cost as well as limited supply.
Highlights on the Indian 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 INDIAN PEPPER INDUSTRY

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

OVERVIEW OF THE INDIAN 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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