Weekly Publications

MARKET REPORT

Market this week showed a mixed response. In local market, Malabar black pepper was reported stable at an average of USD 4,456 per Mt. Indonesia black pepper was reported stable, averaging at USD 2,484 per Mt. Whilst, Indonesia white pepper was reported with an increase of 2% as compared to the previous week, averaging at USD 4,329 per Mt. Malaysia black and white pepper were reported stable, averaging at USD 2,448 per Mt for black pepper and USD 3,917 per Mt for white pepper. Furthermore, Viet Nam black pepper was reported with an increase of 1% as opposed to the previous week, averaging at USD 2,186 per Mt. Whilst, Viet Nam white pepper was reported stable at an average of USD 3,047 per Mt. Sri Lanka black pepper was reported with 2% deficit as compared to the previous week and was traded at an average of USD 2,616 per Mt. China white pepper was reported stable and was traded at an average of USD 4,875 per Mt locally.

International market was also reported with a mixed response as India black pepper was reported stable at an average of USD 4,730 per Mt. Indonesia black pepper was reported stable at an average of USD 3,003 per Mt. Whilst, Indonesia white pepper was reported with an increase of 2% as compared to the previous week, averaging at USD 5,059 per Mt. Malaysia black and white pepper were reported stable and unchanged. Furthermore, Viet Nam black pepper 500 g/l, 550 g/l and Viet Nam white pepper were reported with an increase of 2% respectively as opposed to the previous week, averaging at USD 2,905 per Mt, USD 2,986 per Mt and USD 4,500 per Mt respectively. China white pepper was reported stable and was traded at an average of USD 5,075 per Mt.

USA and Europe markets were reported with less activity. Viet Nam searched for market by offering slightly lower price.

IMPORT OF PEPPER BY SINGAPORE

Singapore, officially the Republic of Singapore, is an island city-state in Southeast Asia. Furthermore, Singapore actively imports pepper from various pepper producing countries for its domestic consumption or for re-export purpose.

In 2018, Singapore was reported to have imported a total 5,782 Mt of pepper which 87% or 5,041 Mt of it comprised of whole pepper while 13% or 740 Mt of it was ground pepper. The average import of pepper by Singapore in 2018 was reported to be 482 Mt per month with the highest quantity recorded in May with 878 Mt. The total expenditure of pepper import by Singapore in 2018 was reported to be as high as USD 22.5 Million, recording an average price of the total pepper imported by Singapore at USD 3,826 per Mt for whole pepper and USD 4,355 Per Mt for ground pepper.

Year 2019 saw a decreasing trend in term of quantity of pepper imported by Singapore. Singapore was reported to have imported a total of 2,753 Mt which 75% or 2,075 Mt of it comprised of whole pepper and 25% or 678 Mt of it was ground pepper. Thus, recording a decrease of 52% when compared to the same period in 2018. The reason for the significant drop of import by Singapore in 2019 could be contributed to the big drop in economic activity in the second quarter of the year. The wealthy city state was being hurt by the US-China trade war and was heading for its weakest annual growth since 2009. The average pepper import by Singapore in 2019 was reported at 229 Mt per month which also peaked in May with 548 Mt. In relation with the decreasing in term of quantity, Singapore's expenditure of pepper import was reported with a decrease of 59% to a total of USD 9.3 Million. Thus, recording an average price of the total pepper imported by Singapore at USD 3,129 per Mt for whole pepper and USD 4,164 per Mt for ground pepper or a decrease by 18% and 4% respectively as compared to 2018.

As of June 2020, Pepper import by Singapore was reported with an increase of 1% as compared to the same period in 2019, totaling at 1,689 Mt which comprised of 79% or 1,328 Mt of whole pepper and 21% or 361 Mt of ground pepper. The total expenditure of pepper import by Singapore as of June 2020 was reported with a decrease of 9% when compared to the same period in the previous year, totaling at USD 5.0 Million. Thus, recording an average price of the total pepper imported by Singapore at USD 2,707 per Mt for whole pepper and USD 3,950 per Mt for ground pepper.

The top five countries of origins of Singapore's pepper as of June 2020 were reported to be Viet Nam with 747 Mt (an increase of 20% as compared to the same period in 2019), Malaysia with 420 Mt (a decrease of 6%), Indonesia with 319 Mt (an increase of 49%), Brazil with 102 Mt (a decrease of 64%) and India with 34 Mt (an increase of 57%). The decrease of Singapore's import from Brazil and Malaysia could be contributed to Singapore preference of importing from other origins which offered more competitive price such as Viet Nam (an increase of 126 Mt as compared to the same period) and Indonesia (an increase of 104 Mt).

https://edition.cnn.com/2019/08/13/economy/singapore-gdp-recession-trade-war/index.html#
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