Monthly Publication

MARKET REVIEW - NOVEMBER 2023

it.assistant@ipcnet.org 29 Dec 2023 76

PEPPER MARKET REPORT - KEY HIGHLIGHTS

World - Pepper prices in November continued to show a mix response with only Malaysian local pepper price reported with an increasing trend.
IPC Price Index and Composite Price – Price index of pepper for the 11th month of 2023 reported a marginal decrease as price index of black pepper recorded at 49.55 points or a dip by 0.1%
while the price index of white pepper recorded a 0.2% dip at 53.42 points. Composite price of black pepper also recorded a marginal decrease to US$ 3,685 per Mt, losing US$ 4 per Mt.
Whilst, composite price of white pepper recorded a drop of US$ 13 per Mt to US$ 5,528 per Mt. Pepper Export of Viet Nam up to November 2023 had exceeded the total of Viet Nam’s export
for the whole 2022 by 5% whereas Brazil only amounted to 85% of its export in 2022.
India - The Indian pepper price continued to be reported with a decreasing trend for the last two (2) months.
Indonesia - Even though the Indonesian Rupiah strengthened against the US Dollar (IDR 15,599 @ 1 USD) or 1% appreciation,
both local and international price for Indonesian pepper continued to be reported with a decreasing trend since last month as some areas were still in the dry season
and plants were unable to be processed yet.
Malaysia - The Malaysian local pepper price continued to be reported with an increasing trend this month which partially contributed
to the strengthening of the Malaysian Ringgit against the US Dollar (MYR 4.69 @ 1 USD) or 1% appreciation.
Whilst, the international price for Malaysian pepper remained stable and unchanged.
Sri Lanka - Even though the Sri Lankan Rupee weakened against the US Dollar (LKR 328.25 @ 1 USD) or 1% depreciation,
local price for Sri Lankan pepper reported stable this month.
Viet Nam - Both local and international price for Vietnamese pepper reported stable and unchanged this month
as Viet Nam\'s pepper inventory for 2024 was estimated at the lowest level in recent years (source: Vietnam Pepper & Spice Association)
US - The local market in US was actively buying former warehouses, floating without shipment
Highlights on World Pepper Export and Import of Producing and Consuming Countries in the 1st Half of 2023.

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

Whole Pepper Export by Producing Countries in the 1st Half of 2023

Ground Pepper Export by Producing Countries in the 1st Half of 2023

Whole Pepper Import by Consuming Countries in the 1st Half of 2023

Ground Pepper Import by Consuming Countries in the 1st Half of 2023

Pepper Export by Producing Countries in the 1st Half of 2023

Pepper Import by Consuming Countries in the 1st Half of 2023

OVERVIEW OF WOLRD PEPPER EXPORT AND IMPORT IN THE 1st Half of 2023

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:
IPC doesn\\\'t set the price of pepper; IPC only showcases the prevailing price of pepper as reported from various origins and sources. 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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