Monthly Publication

MARKET REVIEW - AUGUST 2023

it.assistant@ipcnet.org 17 Oct 2023 48

PEPPER MARKET REPORT - KEY HIGHLIGHTS

World - Pepper prices in August showed a positive outlook with no origins reported with a decreasing trend.
IPC Price Index and Composite Price – The Price Index of pepper for August 2023 recorded an increasing trend with Price Index of Black Pepper reported
with an increase of 4.9% while Price Index of White Pepper recorded a 2% hike. Similarly, the composite price of pepper recorded an increase by US$ 179 per Mt for black pepper
at US$ 3,798 per Mt and US$ 112 per Mt for white pepper at US$ 5,707 per Mt.
India - Even though the Indian Rupee weakened against the US Dollar (INR 82.81 @ 1 USD) or 1% depreciation, the Indian pepper price continued
to be reported with an increasing trend for the last three (3) months. The increase could be contributed to the upcoming festival season
in India which resulted in an increased demand for black pepper.
Indonesia - Even though the Indonesian Rupiah weakened against the US Dollar (IDR 15,252 @ 1 USD) or 1% depreciation,
both local and international prices for Indonesian pepper reported with an increasing trend this month as some areas in Lampung reported to continue harvesting.
Malaysia - Both local and international prices for Malaysian pepper reported stable and unchanged.
Sri Lanka - Even though the Sri Lankan Rupee weakened against the US Dollar (LKR 321.58 @ 1 USD) or 1% depreciation,
local price for Sri Lankan pepper reported with an increasing trend this week.
Viet Nam - Only Vietnamese international black pepper price reported stable this month,
Whilst the others reported with an increasing trend though the market was quiet.
US - Black and white pepper prices were reported to fluctuate for the last three (3) weeks
which contributed to the low global demand and summer holiday.
Highlights on the Thailand 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 Thailand Pepper Industry

Monthly Average FOB Price of Black Pepper in Thailand during 2021-2023* (USD/Mt)

OVERVIEW OF THE THAILAND 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:
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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