Weekly Publications

MARKET REPORT

As the Moslem around the world celebrate the Eid Fitr Mubarak 1440 H, market showed mixed response with market in Indonesia reported no activity due to Eid Fitr Holiday. In Local Market, India black pepper was reported with a 2% spike as opposed to the previous week. In local currency, India black pepper recorded a slight increase, averaging from INR 349 per Kg last week to INR 352 per Kg this week. Following the strengthening of Malaysian Ringgit towards US Dollar, Malaysian black and white pepper were traded with the same 1% spike as opposed to the previous week at an average of USD 2,401 per Mt and USD 3,875 per Mt respectively. Viet Nam black and white pepper were reported to stable and relatively unchanged in local market. Sri Lanka black pepper continued its decreasing trend from last week with a 2% deficit reported for this week, averaging at USD 3,223 per Mt.

In international market, the trend continued with India recorded a 2% spike on its FOB price of black pepper, averaging at USD 5,374 per Mt. Malaysian black and white pepper were also reported with the same 1% spike as opposed to the previous week. Viet Nam FOB prices for black pepper 500 g/l and 550 g/l were reported with 1% increase as opposed to the previous week with an average of USD 2,250 per Mt and 2,315 per Mt respectively, while Viet Nam white pepper was reported stable at USD 3,330 per Mt.

US market reported spot price of Muntok white pepper at USD 5,072 per Mt.

IMPORT OF PEPPER BY CANADA

Canada is a country in the northern part of North America. Its ten provinces and three territories extend from the Atlantic to the pacific and northward into the Arctic Ocean, covering 9.98 Million square kilometres (3.85 million square miles), making it the world's second largest country by total area. A developed country, Canada has the sixteenth-highest nominal per capita income globally as well as the twelfth-highest ranking in the Human Development Index. Its advanced economy is the tenth-largest in the world, relying chiefly upon its abundant natural resources and well-developed international trade networks. Annually, Canada imports more than 7,000 Mt of pepper.

In 2017, Canada was reported to have imported a total of 7,120 Mt of pepper which 59% of it comprised of whole pepper while 2,921 Mt of it ground pepper. The average pepper import by Canada in 2017 was reported at 593 Mt per month with the highest quantity recorded in November with 793 Mt. The total expenditure of pepper import by Canada amounted to USD 60.3 Million, recording an average price of the total pepper imported by Canada at USD 7,412 per Mt for whole pepper and USD 9,978 per Mt for ground pepper.

2018 saw pepper import by Canada slight decreased by 1% as compared to previous year totalling at 7,064 Mt which comprised of 3,785 Mt of whole pepper and 3,279 Mt of ground pepper. The average pepper import by Canada was reported at 589 Mt per month which peaked in May 2018 with 713 Mt. In accordance with decreasing in term of quantity, the pepper imports by Canada also decreased by 26% in terms of value which amounted to USD 44.9 Million. The average prices of the total pepper imported by Canada was reported to be at USD 5,616 per Mt for whole pepper and USD 7,207 per Mt for ground pepper which meant a loss a 24% and 28% respectively.

At the beginning of 2019, pepper import by Canada as of March 2019 continued its increasing trend by recording an increased by 11% as compared with the same period in 2018, totalling 1,847 Mt which comprised of 894 Mt of whole pepper and 952 Mt of ground pepper. The total expenditure of pepper imports by Canada as of March 2019 decreased by 15% as compared to previous year in the same period, totalling USD 10.1 Million.

Most of pepper imported by Canada both whole and ground as of March 2019 was reported to come from Viet Nam with 776 Mt (an increase of 27% compared with the same period in 2018), USA with 473 Mt (a decrease of 9%), India with 180 Mt (a decrease of 34%), Brazil with 143 Mt (an increase of 10%) and Ecuador with 112 Mt (an increase of 81%). The increase in Ecuador export to Canada showed that Canada started to shift from China (decreased by 30 Mt as compared to the same period in 2018) , South Africa (decreased by 19 Mt) and Sri Lanka (decreased by 12 Mt) which exported 71 Mt, 29 Mt and 23 Mt respectively in the same period in 2018.