Monthly Publication

MARKET REVIEW - FEBRUARY 2024

it.assistant@ipcnet.org 22 Mar 2024 96

PEPPER MARKET REPORT - KEY HIGHLIGHTS

World - The pepper prices in second month of 2024 continued to show a mix response as Cambodian black pepper reported with the highest increase.
IPC Price Index and Composite Price – The second month of 2024 saw the positive movement of the IPC Price Index and Composite Price of Pepper as Price Index of black pepper recorded
a spike of 2.9% to 56.97 points while Price Index of white pepper recorded a marginal increase by 0.4% to 57.20 points. Composite price of black pepper was reported with an increase of US$ 121
per Mt to US$ 4,238 per Mt. Whilst, the composite price of white pepper recorded a marginal increase of US$ 23 per Mt to US$ 5,919 per Mt. Pepper export from origins were reported
with a mix response as India and Indonesia recorded an increase on the comparison of Year To Date of 2023 and 2024 while Brazil and Malaysia experienced a slight decrease,
Viet Nam experienced much larger drop by 24%.
India - The Indian pepper price continued to be reported with a decreasing trend since October 2023.
Furthermore, increased availability and subdued demand in the consuming markets had its impact on black pepper prices.
Indonesia - Indonesian black pepper reported with a decreasing trend this month.
Whilst, Indonesian white pepper reported with an increasing trend as the domestic market reported quiet.
Malaysia - Even though the Malaysian Ringgit weakened against the US Dollar (MYR 4.77 @ 1 USD) or 2% depreciation,
Malaysian local black pepper price reported with an increasing trend. Whilst, the others remained stable and unchanged.
Sri Lanka - Even though the Sri Lankan Rupee strengthened against the US Dollar (LKR 312.58 @ 1 USD) or 3% appreciation,
the local price for Sri Lankan pepper reported with a decreasing trend this month.
Viet Nam – The local price for Vietnamese pepper reported with an increasing trend this month.
Whilst, the international price for Vietnamese pepper reported stable and unchanged as market started to open after the Tết Holiday.

Others - Brazilian black pepper as well as Cambodian black pepper reported with an increasing trend this month.
Whilst, Chinese white pepper continued to be reported stable and unchanged as Chinese market started to open after the celebration of Chinese New Year 2024.
US - Both black and white pepper price reported with an increasing trend in US market.
Highlights on the Vietnamese 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 VIETNAMESE PEPPER INDUSTRY

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

OVERVIEW OF THE VIETNAMESE 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: 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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