Monthly Publication

PEPPER MARKET REPORT - KEY HIGHLIGHTS

	World - Pepper prices in March 2025 continued to reflect a positive trend, with no producing countries reporting a decline. Notably, prices in the US market showed an upward movement despite lower demand.
	IPC Price Index and Composite Price – The IPC pepper price index in March reflected a positive outlook. The black pepper price index increased by 5% to 96.85 points, while the white pepper index also rose modestly by 2.1% to 93.21 points. Correspondingly, the composite price of black pepper rose by USD 346 to USD 7,204 per metric ton, and the composite price of white pepper increased by USD 195 to USD 9,645 per metric ton. However, global pepper trade in March recorded a negative outlook, with Indonesia marking a significant year-on-year increase of over 50%, whereas Viet Nam reported a 16% decrease compared to the same period last year.
	India - Both domestic and international prices for Indian pepper continued to trend upwards. This price movement partially contributed to the Indian Rupee\'s appreciation by 1%, now valued at INR 85.56 per US Dollar.
	Indonesia - The price of Indonesian black pepper remained stable this month. Meanwhile, Indonesian white pepper continued its upward trend for the third consecutive month, supported by reduced market transactions.
	Malaysia - Both local and international prices of Malaysian pepper have shown a consistent upward trend for the past three months.
	Sri Lanka - The domestic price of Sri Lankan pepper has continued to rise since last month.
	Viet Nam – The local price of Vietnamese black pepper remained stable, while prices in other segments reported an upward trend.
	Others - Prices of Brazilian black pepper and Chinese white pepper continued to increase. Cambodian black pepper remained stable and unchanged.
	Highlights on the developments and performance of Indonesia\'s pepper sector

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 INDONESIA PEPPER INDUSTRY

Monthly Export Price of the Indonesian Pepper during 2023 - 2025* (USD/Mt)

OVERVIEW OF THE INDONESIA 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.