Weekly Publications

No. 06/24, 5 - 9 February 2024

it.assistant@ipcnet.org 09 Feb 2024 84

MARKET REPORT - KEY HIGHLIGHTS

The pepper market this week showed a rather positive outlook with no origins reported with a decreasing trend
as the Chinese new year of 2024 to be celebrated this weekend.
After reported with a decreasing trend for the last two (2) weeks, both local and international price for Indian pepper reported relatively stable.
Furthermore, increased availability and subdued demand in the consuming markets had its impact on black pepper prices,
which registered a ₹30 per kg drop in the last fortnight.
Both local and international price for Indonesian pepper reported stable this week after reported with
a decreasing trend for the last two (2) weeks as the domestic market reported quiet.
Even though the Malaysian Ringgit weakened against the US Dollar (MYR 4.77 @ 1 USD) or 1% depreciation,
Malaysian local black pepper price reported with an increasing trend this week, Whilst, the others remained stable and unchanged.
As the Sri Lankan Rupee strengthened against the US Dollar (LKR 312.90 @ 1 USD) or 1% appreciation,
the local price for Sri Lankan pepper reported with an increasing trend this week.
Only Vietnamese local black pepper price continued to be reported with an increasing trend since last week.
Whilst the others remained stable as Viet Nam welcomed Tết Holiday.

Brazilian black pepper, Cambodian black pepper as well as Chinese white pepper reported stable this week.
Furthermore, Chinese markets closed for the next two weeks to celebrate Chinese New Year 2024.
The US pepper market reported both black and white pepper price were stable to steady undertone.
Export of Pepper by China (2021 - 2023).

FARM GATE PRICE BLACK PEPPER - in US$/Mt

FARM GATE PRICE WHITE PEPPER - in US$/Mt

FOB PRICE BLACK PEPPER - in US$/Mt

FOB PRICE WHITE PEPPER - in US $/Mt

EXPORT OF PEPPER BY CHINA (2021 - 2023)


BUYERS PRICES AT NEW YORK (In US$/Mt)

 

Notes:

  • IPC doesn\'t set the price of pepper; IPC only showcases the prevailing price of pepper as reported from various origins and sources. Some of the data in this publication are from the IPC database. The data were obtained from the official reports and correspondence between the IPC and have been processed based on statistical norms that can be accounted for.
  • Prices given are indicative prices. Quality may differ from place to place. Prices can vary and the IPC is not responsible for loss or damages caused to the users of these prices in the context of business contracts or other transactions
  • Producers\' price ex Kochi is the price quoted for un-garbled quality at Kochi
  • Producers\' prices ex Lampung and Pangkal Pinang are average prices received by farmers for unprocessed pepper
  • Producers\' prices ex Kuching are the average prices offered by local traders to farmers for unprocessed pepper - grade 1
  • Producers\' price in Sri Lanka is the average price received by growers, collected from 11 pepper growing districts in Sri Lanka - grade 1
  • Producers\' price ex Ho Chi Minh City is prices for local purchases of pepper (500 g/l for black and 630g/l for white)

Sources:

  • Brazil, Unofficial source (Coreimex, CSG Trade)
  • India: AISEF, NCDEX
  • Indonesia: Unofficial source
  • Malaysia: Malaysian Pepper Board
  • Sri Lanka: Department of Export Agriculture
  • Viet Nam : Viet Nam Pepper Association, HCMC
  • China: Hainan Pepper Association, China Spice Association
  • New York: Trader sources
  • A.A. SAYIA & Company
  • Europe: Reuter
  • Namagro
  • International Trade Centre (ITC)

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