Monthly Publication

MARKET REVIEW - JULY 2024

it.assistant@ipcnet.org 06 Sep 2024 80

PEPPER MARKET REPORT - KEY HIGHLIGHTS

World - Most pepper prices in June showed an increasing trend with only Cambodia reported with a decrease.
IPC Price Index and Composite Price – IPC Price Index and Composite Price – the Price index of pepper for July 2024 though still considered high was reported
with a drop as price index of black pepper was recorded negatively by 4.8% to 91.91 points while price index of white pepper recorded a slightly higher dip of 5.8% to 84.83 points.
Similarly, the composite price of black pepper also reported with a dip of US$ 346 per Mt at US$ 6,836 per Mt.
Whilst, composite price of white pepper recorded a loss of US$ 536 per Mt at US$ 8,778 per Mt. Export of pepper from major producing countries in the first 6 – 7 month of 2024
was reported fluctuated with significant increase recorded by China, India and Indonesia as compared with the same period in 2023. Viet Nam pepper export for the first 7 months of 2024
amounted to 62% of the total pepper export of Viet Nam in 2023.
India - After reported with an increasing trend for the last three (3) months, the Indian pepper price reported stable this month
Indonesia - Both local and international price for Indonesian pepper continued to be reported with an increasing trend for the last three (3) months.
Malaysia - As the Malaysian Ringgit strengthened against the US Dollar (MYR 4.68 @ 1 USD) or 1% appreciation, both local and international price
for Malaysian pepper continued to be reported with an increasing trend since last month.
Sri Lanka - Even though the Sri Lankan Rupee weakened against the US Dollar (LKR 303.81 @ 1 USD) or 1% depreciation,
the local price for Sri Lankan pepper reported with an increasing trend this month.
Viet Nam – Only Vietnamese local white pepper continued to be reported with an increasing trend this month.
Whilst, the others reported with a decreasing trend.
Others - Cambodian black pepper and Chinese white pepper reported with an increasing trend this month.
Whilst, Brazilian black pepper reported with a decreasing trend this month. In addition, prices rose sharply one month in Hainan, China due to
expected low production and speculators from China inland.
US - The pepper market in the US in the last two weeks reported with rapid fluctuations as some reports assessed that the 2024 season
as affected by a prolonged drought would expect production to be less, with a decrease in harvest in 2024.
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 Export Price of the Thailand Pepper during 2022 - 2024* (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, Ministry of Commerce and Industry of India.
  • Indonesia : Unofficial source, Ministry of Agriculture Republic Indonesia, Ministry of Trade of Indonesia (MOT).
  • Malaysia : Malaysian Pepper Board (MPB), Department of Statistics Malaysia (DOSM).
  • Sri Lanka : Sri Lanka Customs, Department of Export Agriculture (DEA).
  • Viet Nam : Viet Nam Pepper Association (VPA), HCMC.
  • International Trade Centre (ITC) – Geneva.
  • NAMAGRO
  • IPC database.

Notes:
IPC DOES NOT set the price of pepper; IPC only publishes the prevailing price of pepper as reported from various origins and sources. Some of the data in this publication are from the IPC Secretariat database. The data were obtained from the official reports and correspondence between the IPC and has been processed based on statistical norms that can be accounted for.

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