Monthly Publication

MARKET REVIEW - JANUARY 2025

it.assistant@ipcnet.org 18 Mar 2025 86

PEPPER MARKET REPORT - KEY HIGHLIGHTS

World - The pepper prices in the first month of 2025 showed a mixed response.
IPC Price Index and Composite Price – IPC Price Index and Composite Price – The beginning of 2025 saw the IPC Price Index with a positive outlook as price index of black pepper was reported at 90.53 points, recording a marginal increase of 0.9% as compared to the closing of 2024. Whilst, the price index of white pepper was reported at 89.43 point as it recorded an increase of 1.5%. Concurrently, the Composite Price of Pepper also took a positive turn with composite price of black pepper reported at USD 6,734 per Mt, recording an increase of USD 58 per Mt. Whereas the composite price of white pepper recorded a much significant increase of USD 135 per Mt and was reported at USD 9,254 per Mt. India and Indonesia closed 2024 by trading significantly higher than the previous year as they recorded a 28% and 133% increase respectively. Whereas, the first month of 2025 saw a decrease of trade from some major origins as Brazil and Viet Nam reported with a decrease of 28% and 25% respectively when compared to the same period in 2024.
India - The Indian pepper price continued to be reported with a decreasing trend for the last four (4) months which partially contributed to the weakening of the Indian Rupee against the US Dollar (INR 86.29 @ 1 USD) or 2% depreciation, Furthermore, as reported by thehindubusinessline.com, strong demand, high production cheered up Indian pepper growers despite rising imports.
Indonesia - Though Indonesian Rupiah weakened against the US Dollar (IDR 16,270 @ 1 USD) or 1% depreciation, both local and international price for Indonesian pepper reported with an increasing trend this month as the flowers started to grow in Lampung area while limited stock continuously reported.
Malaysia - Both local and international price for Malaysian pepper reported with an increasing trend this month. Furthermore, It was observed that in 2025 there would be some new plantation having their first ever harvest.
Sri Lanka - After reported with an increasing trend for the last four (4) months, 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 an increasing trend this month. Furthermore, the market reported quiet during Tet holiday.
Others - Brazilian black pepper as well as Cambodian black pepper reported stable trend this month. Whilst, Chinese white pepper reported with an increasing trend this month.
Highlights on the Brazilian 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 BRAZILIAN PEPPER INDUSTRY

Monthly Export Price of the Brazilian Pepper during 2022 - January 2025* (USD/Mt)

OVERVIEW OF THE BRAZILIAN 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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