Monthly Publication

MARKET REVIEW - MARCH 2024

it.assistant@ipcnet.org 26 Apr 2024 92

PEPPER MARKET REPORT - KEY HIGHLIGHTS

World - The pepper prices in March continued to show a mix response with India and Sri Lanka were reported with a decrease.
IPC Price Index and Composite Price – IPC Price Index and Composite Price – Price index and composite of pepper for the 3rd month of 2024 were reported with an increasing trend as
the IPC price index of black pepper recorded an increase of 3.1% to 58.87 points. Whilst, the price index of white pepper was reported with a lesser increase of 1.8% to 58.01 points.
Composite price of black pepper was reported with an increase of US$ 134 per Mt at US$ 4,379 per Mt while composite price of white pepper recorded an increase
of US$ 105 per Mt at US$ 6,003 per Mt. Export of pepper from some of the biggest exporters of the world Viet Nam and Brazil up to March 2024 were reported with a decrease
when compared to the same period in 2023. The decrease of export of Viet Nam reportedly could be contributed to the decrease from some origins such as Egypt,
China and others whilst some countries like United States, Germany, India and Netherlands recorded a relatively significant increase.
India - The Indian pepper price continued to be reported with a decreasing trend for the last Six (6) months.
Furthermore, bullish global prices might slow imports and spurred exports as quoted from thehindubusinessline.com
Indonesia - Both local and international price for Indonesian pepper reported with a decreasing trend this month.
Malaysia - Malaysian local price reported with an increasing trend this month. Whilst, the Malaysian international price continued to be reported stable and unchanged.
Sri Lanka - Even though the Sri Lankan Rupee strengthened against the US Dollar (LKR 305.66 @ 1 USD) or 2% appreciation,
the local price for Sri Lankan pepper reported with a decreasing trend since last month.
Viet Nam – Both local and international price for Vietnamese pepper reported with an increasing trend this month.
Furthermore, the upward price trend was expected to continue in the short term due to limited supply.

Others - Brazilian black pepper as well as Cambodian black pepper continued to be reported with an increasing trend since last month.
Whilst, Chinese white pepper remained stable.
US - Both black and white pepper prices remained stable with limited shipment activity.
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 Export Price of the Indonesia Pepper during 2022 - 2024* (USD/Mt)

OVERVIEW OF THE INDONESIAN PEPPER INDUSTRY

 

 

26.04.24 | Bangkok, Thailand - One with Her Excellency Ibu Armida Alisjahbana, Under-Secretary General of the United Nations (UN) and Executive Secretary of Economic and Social Commission for Asia and the Pacific (ESCAP)🤝.During the bilateral meeting between ESCAP and IPC, we had the opportunity to brief and update UNESCAP on the latest development of IPC and global pepper industry. Furthermore, we also discussed on the potential collaboration with ESCAP on trade facilitation and business process analysis specifically on pepper for the betterment of the 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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