Weekly Publications

MARKET REPORT

Market this week showed a mixed response with only Indonesia was reported with a decrease. In local market, Malabar black pepper was reported with an increase of 2% when compared to the previous week, averaging at USD 4,545 per Mt. Indonesia black and white pepper were reported with 1% deficit respectively when compared to the previous week, averaging at USD 2,442 per Mt for black pepper and USD 4,424 per Mt for white pepper. The decrease of Indonesia's pepper could be contributed to the weakening of Indonesia Rupiah against the US Dollar (IDR 14,129 @ USD 1), recording a 1% depreciation. Malaysia black and white pepper were reported stable, averaging at USD 2,492 per Mt for black pepper and USD 3,962 per Mt for white pepper. As market resume after T?t Holiday, Viet Nam black and white pepper were reported with an increase of 3% and 8% respectively as compared to the previous week, averaging at USD 2,246 per Mt for black pepper and USD 3,302 per Mt for white pepper. Sri Lanka black pepper was reported with an increase of 2% as compared to the previous week and was traded at an average of USD 2,682 per Mt.

International market was also reported with a mixed response as India black pepper was reported with the same increase of 2% when compared to the previous week, averaging at USD 4,822 per Mt. Indonesia black and white pepper were reported with 1% deficit respectively when compared to the previous week, averaging at USD 2,955 per Mt for black pepper and USD 5,164 per Mt for white pepper. Malaysia black and white pepper were reported stable and unchanged. Furthermore, Viet Nam black pepper 500 g/l, 550 g/l and Viet Nam white pepper were reported with an increase of 6%, 6% and 5% respectively as opposed to the previous week, averaging at USD 3,075 per Mt, USD 3,156 per Mt and USD 4,170 per Mt respectively.

EXPORT OF PEPPER OIL BY INDIA

Pepper oil or Pepper essential oil is a natural blend of mainly terpenes and their derivatives that form a clear yellowish green to bluish green color. It is responsible for the characteristic aroma of pepper. Today, this essential oil is commercially extracted from the pepper berries mainly by the process of steam distillation.

Pepper oil is one of India's value-added pepper product. As the top producers of pepper oil, in 2018 India exported 97,567 Kg of pepper oil. India on average exported a total of 8,131 Kg per month which peaked in June with 10,253 Kg. The total revenue of India's export of pepper oil in 2018 was reported to be as high as USD 4.9 Million. Thus, recording an average price of the total pepper oil exported by India at USD 51.16 per Kg. The highest export price of pepper oil from India in 2018 was recorded in January with USD 59.80 per Kg whilst the lowest price was recorded in September with USD 43.83 per Kg.

Year 2019 saw an increase in term of quantity of pepper oil exported by India. India was reported to have exported a total of 115,050 Kg, recording an increase of 18% when compared with 2018. The average export of pepper oil by India in 2019 was reported to be 9,588 Kg per month which peaked in July with 13,850 Kg. Although increasing in terms of quantity, India's revenue from pepper oil export was reported to have declined by 1% to a total of USD 4.8 Million as compared to the previous year. Thus, recording an average price of the total pepper oil exported by India at USD 42.26 per Kg or a decrease by 17% as compared with 2018. The highest export price of pepper oil from India in 2019 was recorded in March with USD 52.92 per Kg whilst the lowest price was recorded in October with USD 36.71 per Kg.

As of November 2020, India was reported to have exported a total of 108,010 Kg pepper oil. Thus, recording an increase of 2% when compared to the same period in 2019. By the end of November 2020, the total revenue of India's pepper oil export was reported to have reached USD 3.8 Million. Thus, recording a decrease by 16% as compared to the same period in 2019. The average price of the total pepper oil exported by India as of November 2020 was reported at USD 35.75 per Kg, recording a decrease of 16% as compared to the same period in 2019 with the highest export price of pepper oil was recorded in May with USD 39.16 per Kg whilst the lowest price was recorded in September with USD 30.96 per Kg.

Pepper oil from India is widely traded in the world with United States of America and Europe as its main markets. As of November 2020, India's top 5 Country of destinations for its pepper oil were reported to be United States of America with 18,370 Kg (Contributed to 17% of India's total pepper oil export as of November 2020), Germany with 7,770 Kg (7%), Turkey with 6,770 Kg (6.3%), Netherlands with 6,710 Kg (6.2%) and France with 6,590 Kg (6.1%).