Weekly Publications

MARKET REPORT

Market this week showed mixed responses with Local market reported to show slight decrease for Viet Nam origin. India black pepper was traded positive in local market with an increase of 1% as compared with the previous week, averaging at USD 4,795 per Mt. Both Lampung black pepper and Muntok white pepper were traded stable this week with an average of USD 2,112 per Mt and USD 3,556 per Mt respectively. Malaysian black and white pepper continued to be traded at a stable rate with insignificant movement reported. Viet Nam black pepper was reported to have recorded a 2% deficit when compared with the previous week while Viet Nam white pepper was traded 1% less than the previous week. The average prices of Viet Nam pepper were reported to be at USD 1,863 per Mt for black pepper and USD 3,027 per Mt for white pepper. Sri Lanka black pepper was traded 1% higher than the previous week. Whilst China white pepper was traded at an average of USD 4,613 per Mt.

Unlike the local market, the international market was reported to be rather quiet and stable with only India origin reported an increase. Following the local market India black pepper FOB price was reported to have increased by 1% when compared with the previous week and was traded at an average of USD 5,086 per Mt. Indonesia FOB prices for both black and white pepper were reported stable at an average of USD 2,578 per Mt and USD 4,194 per Mt respectively. FOB prices of black and white pepper from Malaysia origin remained unchanged and stable, averaging at USD 3,030 per Mt and USD 4,597 per Mt respectively. Viet Nam's FOB prices for black pepper 500 g/l, 550 g/l and white pepper were also reported stable. China white pepper was traded at an average of USD 4,813 per Mt internationally.

Spot prices in US was reported to experienced a slight dip as new crop materials began to arrive, though Muntok spot price remained unchanged.

IMPORT OF PEPPER BY MEXICO:

Mexico, located in the southern of North America and the third largest country in Latin America, has been known for using heavy spices on its foods. Thus, pushing Mexico to become the top importers of pepper in Latin America. In the past three years, pepper import by Mexico had shown an increasing trend.

In 2016, Mexico was reported to have imported a total of 3,184 Mt of pepper which comprised of 2,551 Mt of whole pepper and 633 Mt of ground pepper. With an average of 213 Mt per month for whole pepper and 53 Mt per month for ground pepper, Mexico recorded a total spending of USD 27.07 Million for its pepper import. The average price of the total pepper imported by Mexico was reported to be at USD 7,504 per Mt for whole pepper and USD 12,527 per Mt for ground pepper.

2017 saw the pepper import by Mexico spiked 58% when compared with previous year, totalling at 5,022 Mt of which 87% was whole pepper and 671 Mt was ground pepper. The monthly average import of pepper by Mexico in 2017 was reported to be 363 Mt for whole pepper and 56 Mt for ground pepper. Mexico was reported to have spent 2% more than the previous year for the pepper import which amounted to USD 27.5 Million. Thus, recording an average price of the total pepper imported by Mexico at USD 4,443 per Mt for whole pepper and USD 12,214 per Mt for ground pepper which indicated 41% and 3% deficit of the respective average price.

For 2018, pepper import by Mexico was reported to have recorded decrease both in terms of quantity and values. The total pepper imported by Mexico decreased by 20 Mt and amounted to 5,002 Mt of which 86% was whole pepper while the other 704 Mt was ground pepper. The monthly average import of pepper in 2018 was reported to be 358 Mt per month for whole pepper and 59 Mt per month for ground pepper. The total spending of pepper import decreased by 30% in 2018, totalling at USD 19.3 Million. The average price of the total pepper imported by Mexico decreased by 35% and 19% respectively to USD 2,892 per Mt for whole pepper and USD 9,880 per Mt for ground pepper.

The top five countries to have exported to Mexico in 2018 were reported to be Brazil with 4,162 Mt followed by United States of America with 313 Mt, Viet Nam with 295 Mt, Spain with 47 Mt and Costa Rica with 45 Mt.