Weekly Publications

MARKET REPORT

Market this week showed a mixed response. In local market, Malabar black pepper was reported stable with a marginal decrease at an average of USD 4,379 per Mt. Indonesia black pepper was reported stable with a marginal increase averaging at USD 1,964 per Mt. Whilst, Indonesia white pepper was reported with 2% deficit when compared to the previous week averaging at USD 3,690 per Mt. The decrease of Indonesian white pepper could be contributed to the oversupply in local market. Malaysia black and white pepper were reported with 4% and 1% deficit respectively as opposed to the previous week averaging at USD 2,258 per Mt for black pepper and USD 3,699 per Mt for white pepper. Furthermore, Viet Nam black and white pepper were reported stable with a marginal increase to an average of USD 2,097 per Mt for black pepper and USD 2,831 per Mt for white pepper. Sri Lanka black pepper was reported with 1% deficit as compared to the previous week and was traded at an average of USD 3,050 per Mt. China white pepper was traded at an average of USD 4,192 per Mt Locally.

International market was reported with a rather stable outlook as only Indonesia white pepper recorded a decrease. India black pepper was reported stable with a marginal decrease at an average of USD 4,652 per Mt. Indonesia black pepper was reported stable with a marginal increase at an average of USD 2,402 per Mt. Whilst, Indonesia white pepper was reported with 2% deficit as compared to the previous week averaging at USD 4,336 per Mt. Malaysia black and white pepper continued to be reported stable and unchanged. Furthermore, Viet Nam black pepper 500 g/l, 550 g/l and Viet Nam white pepper were also reported stable and unchanged. China traded its white pepper at an average of USD 4,392 per Mt internationally.

International market was reported with a decreasing demand from USA and Europe. Muntok white pepper in US Market for CF October/November was reported at USD 4.200 - USD 4,300 per Mt.

EXPORT OF PEPPER BY SOUTH KOREA

South Korea, officially the Republic of Korea is a country in East Asia, constituting the southern part of the Korean Peninsula and sharing a land border with North Korea. South Korea actively imports pepper from various pepper producing countries for its domestic consumption or for re-export purpose.

In 2018, South Korea was reported to have imported a total of 5,607 Mt which 91% of it comprised of whole pepper. In the following year, South Korea's import of pepper increased by 17%, totaling at 6,567 Mt. As of July 2020, South Korea was reported to have imported a total of 5,114 Mt of which 85 Mt went for re-export purposes. The ratio of South Korea's import and export during 2018-July 2020 are 59:1, 86:1, 60:1 respectively. The top five countries of origins of South Korea pepper both for whole and ground as of July 2020 were reported to be Viet Nam with 3,885 Mt (Contributed to 76% of the total South Korea's import as of July 2020), Indonesia with 532 Mt (10%), Brazil with 409 Mt (8%), Malaysia with 246 Mt (5%) and India with 20 Mt (0.4%).

In 2018, South Korea was reported to have exported a total of 95,073 Kg of pepper which 30% or 28,128 Kg of it comprised of whole pepper and 70% or 66,945 Kg of it ground pepper. South Korea on average exported a total of 7,923 Kg per month in 2018 which peaked in April with 21,012 Kg. The total revenue of South Korea's export of pepper in 2018 was reported to be as high as USD 706,000. Thus, recording the average price of the total pepper exported by South Korea at USD 6 per Kg for whole pepper and USD 7 per Kg for ground pepper.

Year 2019 saw a decrease in term of quantity of pepper exported by South Korea. South Korea was reported to have exported a total of 76,305 Kg of which 41% or 31,515 Kg of it comprised of whole pepper and 59% or 44,790 Kg of it ground pepper, recording a decrease of 20% when compared to 2018. The average export of pepper by South Korea in 2019 was reported to be 6,359 Kg per month which peaked in April with 26,920 Kg. In accordance with decreasing in term of quantity, South Korea's revenue from pepper export was reported with a decrease of 7% as compared to the previous year to a total of USD 656,000 Thus, recording an average price of the total pepper exported by South Korea at USD 4 per Kg for whole pepper and USD 11 per Kg for ground pepper or a decrease of 30% for whole pepper and an increase of 47% for ground pepper as compared to 2018.

As of July 2020, South Korea was reported to have exported a total of 85,281 Kg which 66% or 55,964 Kg of it comprised of whole pepper and 34% or 29,317 Kg of it ground pepper. Thus, recording an increase of 78% when compared to the same period in 2019. As of July 2020, the total revenue of pepper export by South Korea was reported to have reached USD 590,000, recording an increase of 62% as compared to the same period in 2019. The average price of the total pepper exported by South Korea as of July 2020 was reported at USD 3 per Kg for whole pepper and USD 14 per Kg for ground pepper.

Pepper from South Korea is traded worldwide. As of July 2020, South Korea's top 5 Country of destinations for its pepper were reported to be Viet Nam with 58,793 Kg (an increase of 87% as compared to the same period in 2019), United States of America with 7,338 Kg (an increase of 96%), Kazakhstan with 6,100 Kg (an increase of 87%), Australia with 3,037 Kg (an increase of 44%) and China with 2,681 Kg (an increase of 2,041 Kg).