Weekly Publications

WPB Week #10/16, 07-11 March 2016

it.assistant@ipcnet.org 11 Mar 2016 2

Except in Vietnam, local price of black pepper at most origins were reported stable. Strengthening of local currencies in Indonesia (IDR) and Malaysia (MYR) against US Dollar has pushed the price up marginally by 1%. In Sri Lanka, domestic price increased by LKR 15 per Kg to reach at LKR 1,223.5 per Kg this week. In Kochi, India, local price of pepper stood at the level of around INR 525 per Kg, which more or less same as prevailed in the last few weeks.

In respect of white pepper, except in Bangka, the price was reported stable, both local as well as FOB price. The bustle of people in Bangka Belitung, the main white pepper producing regions, with regard to a happening of total solar eclipse, which was cantered in Belitung, has made the pepper market activity decreased. Thousands of tourists and researchers have come to this island to see the rare occurrence of total solar eclipse.

EXPORT OF PEPPER FROM VIETNAM:
During 2015 export of pepper from Vietnam totaled at 133,600 Mt, registering a decrease of 9% from 146,400 Mt of export in 2014. In terms of value however, the export earnings from pepper increased by 6% from US$ 1.2 billion in 2014 to US$ 1.3 billion in 2015. In the last 43rd Session of IPC held on November 2015 in Mysore, India, it was reported that production of pepper in 2016 is estimated at the level of 140,000 Mt, an increase of around 7% from 130,000 Mt in 2015. With this situation, it is predicted that export of pepper from Vietnam will be higher in 2016 than the last year and as per the VPA, total pepper export is expected to reach at 150,000Mt this year. This is also supported by reported less supply from India and Indonesia. Overall, world supply this year is estimated to be more or less same as last year and price will be more stable. The market will find a new equilibrium after Vietnam released major portion of its pepper from current harvest.

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