Monthly Publication

MARKET REVIEW - MARCH 2023

it.assistant@ipcnet.org 12 May 2023 70

PEPPER MARKET REPORT - KEY HIGHLIGHTS

World - Pepper prices in March showed a mix response with Vietnamese local black pepper reported with the highest increase.
Pepper Price Index for this month was reported positive albeit marginally as price index of black pepper recorded an increase on 0.3% to 45.64 points
while price index of white pepper at 51.59 points or 0.6% increase. Similarly, composite price of black pepper was reported with a slight increase of USD 10 per Mt
to USD 3,395 per Mt as composite price of white pepper recorded a slight more at USD 5,338 per Mt or USD 34 per Mt increase.
India - Pepper price for India continued to be reported stable this month.
Indonesia - Pepper price for Indonesia reported with a decreasing trend this month which partially as effect to the weakening of the Indonesian Rupiah
against the US Dollar (IDR 15,288 @ 1 USD) or 1% depreciation as some farmers finished their intermittent harvest.
Malaysia - Even though the Malaysian Ringgit weakened against the US Dollar (MYR 4.47 @ 1 USD) or 2% depreciation,
Malaysian local black pepper price continued to be reported positive for the last four (4) months. Whilst the others reported stable and unchanged.
Sri Lanka - Even though the Sri Lankan Rupee strengthened against the US Dollar (LKR 329.47 @ 1 USD) or 9% appreciation,
Sri Lankan pepper price reported with a decreasing trend this month.
Viet Nam - Only Vietnamese international black pepper 550 g/l price reported stable this month.
Whilst the others reported with an increasing trend for the last two (2) months as the market reported quiet.
US - The US market remained inactive lately after Fed raised interest rates by 0.25 % with hope of decreasing inflation.
Market estimated to turn over nearing the end of 1st quarter.
Highlights on the Indonesian 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 INDONESIAN PEPPER INDUSTRY

Monthly Average FOB Price of Black and White Pepper Indonesia during 2021-2023* (USD/Mt)

Overview of The Indonesian 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:

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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