Weekly Publications

MARKET REPORT

Market this week showed mixed response with a rather negative outlook. In local market, Malabar black pepper was reported with 1% deficit as compared to the previous week at an average of USD 4,141 per Mt. Indonesia black pepper was reported with an increase of 2% as opposed to the previous week averaging at USD 2,182 per Mt. The increase of Indonesia pepper could be contributed to the increase of demand while the stocks were limited. In local currency, the price of Indonesia black pepper increased to an average of IDR 31,000 per Kg from IDR 30,000 per Kg in previous week. As this week Indonesia Rupiah depreciated by 1% against US Dollar, Indonesia white pepper was reported with a 1% deficit as compared to the previous week averaging at USD 3,132 per Mt. Malaysia black and white pepper in local market were reported with an increase of 4% and 2% respectively as compared to the previous week at an average of USD 1,834 per Mt for black pepper and USD 3,205 per Mt for white pepper. Furthermore, Viet Nam black pepper was reported with 3% deficit as opposed to the previous week averaging at USD 2,135 per Mt whilst Viet white pepper was reported with an increase of 1% as compared to the previous week at an average of USD 3,066 per Mt. Sri Lanka black pepper was reported with 1% deficit when compared to the previous week and was traded at an average of USD 2,689 per Mt. China white pepper was reported stable and unchanged.

International market showed a similar trend as the local market. India black pepper was reported with the same 1% deficit as compared to the previous week at an average of USD 4,404 per Mt. Indonesia black pepper was reported with an increase of 2% as compared to the previous week averaging at USD 2,657 per Mt whilst Indonesia white pepper was reported with 1% deficit as compared to the previous week at an average of USD 3,721 per Mt. Contrary to the local market, internationally Malaysia black and white pepper were reported with 7% deficit respectively when compared to the previous week averaging at USD 3,350 per Mt for black pepper and USD 4,800 per Mt for white pepper. Furthermore, Viet Nam black pepper 500 g/l, 550 g/l and Viet Nam white pepper were reported with 2%, 2% and 1% deficit respectively as opposed to the previous week averaging at USD 2,490 per Mt, USD 2,570 per Mt and USD 3,800 per Mt respectively. China white pepper was reported stable and unchanged.

Trade activity in US market this week was reported slowing down due to instability of origin prices, financial problems and local currencies. Muntok white pepper for CF July/August was reported at USD 4.150 per Mt.

EXPORT OF GREEN PEPPER BY INDIA

Green pepper is made from the fully developed but immature berries. They are preserved in brine, vinegar or citric acid and may be dried or kept in the preservative. Europeans are fascinated by the natural green color and fresh flavor of green pepper.

Green pepper is one of India's value-added pepper products. In the past three years, India exported quite significant amount of green pepper to various country in the world. In 2018, India was reported to have exported a total of 674,224 Kg of green pepper. The average export of green pepper by India in 2018 was reported to be 56,185 Kg per month which peaked in February with 119,655 Kg. The total revenue of India's export of green pepper in 2018 was reported to be as high as USD 7.7 Million. Thus, recording an average price of the total green pepper exported by India at USD 11 per Kg. The highest export price of green pepper from India in 2018 occurred in May, June and November with USD 13 per Kg respectively whilst the lowest price was reported in October with USD 8 per Kg.

Year 2019 saw a decrease in term of quantity of green pepper exported by India. India was reported to have exported a total of 624,187 Kg, recording a decrease by 7% when compared with 2018. The average export of green pepper by India in 2019 was reported to be 52,016 Kg per month which peaked in March with 148,773 Kg. In accordance with decreasing in terms of quantity, India's revenue from green pepper export was reported to have declined by 21% as compared to the previous year to a total of USD 6.1 Million. Thus, recording an average price of the total green pepper exported by India at USD 10 per Kg or a decrease by 13% as compared with 2018. The highest export price of green pepper by India in 2019 was reported in September with USD 12 per Kg whilst the lowest price was reported in December with USD 7 per Kg.

As of February 2020, India was reported to have exported a total of 203,420 Kg of green pepper. Thus, recording an increase of 15% when compared to the same period in 2019. As of February 2020, the total revenue of green pepper export by India was reported to have reached a total of USD 1.8 Million, recording an increase of 4% as compared to the same period in 2019. The average price of the total green pepper exported by India as of February 2020 was reported at USD 9 per Kg, recording a decrease of 9% as compared to the same period in 2019.

Green pepper from India is mostly traded in European Countries. As of February 2020, India's top 5 Country of destinations for its green pepper were reported to be Germany with 76,510 Kg (a decrease of 11% as compared with the same period in 2019), Netherland with 36,000 Kg (an increase of 50%), France with 16,590 Kg (an increase of 11,595 Kg), Belgium with 15,590 Kg (an increase of 42%) and Poland with 13,200 Kg (n.a 2019).