IPC PEPPER MKT REPORT No. 22/20, 25 - 29 May 2020

LOCAL MARKET 
Market this week showed mixed response with a rather positive outlook as only Indonesia's Muntok white pepper was reported with a decrease. In local market, Malabar black pepper was reported stable at an average of USD 4,043 per Mt. Indonesia black pepper was reported with an increase of 1% as opposed to the previous week averaging at USD 1,728 per Mt whilst Indonesia white pepper was reported with 1% deficit as compared to the previous week at an average of USD 2,913 per Mt. Malaysia's black and white peppers were reported stable and unchanged. Furthermore, Viet Nam black and white pepper were reported with significant increase of 17% and 11% respectively as compared to the previous week at an average of USD 2,093 per Mt for black pepper and USD 2,939 per Mt for white pepper. The increase of Viet Nam price could be contributed to the significant increase of China's pepper demand after China's lock down ended. Sri Lanka black pepper was reported steady and was traded at an average of USD 2,733 per Mt. China white pepper was also reported stable averaging at USD 4,114 per Mt.


INTERNATIONAL MARKET
International market showed similar mixed response with a rather positive outlook. India black pepper was reported stable at an average of USD 4,308 per Mt. Indonesia black pepper was reported with an increase of 1% as compared to the previous week averaging at USD 2,133 per Mt whilst Indonesia white pepper was reported with 1% deficit when compared to the previous week averaging at USD 3,468 per Mt. Malaysia black and white pepper continued to be traded stable and unchanged. Following the local market trend, Viet Nam black pepper 500 g/l, 550 g/l and Viet Nam white pepper were reported with an increase of 7%, 7% and 10% respectively as opposed to the previous week at an average of USD 2,440 per Mt, USD 2,482 per Mt and USD 3,526 per Mt respectively. China white pepper was reported stable averaging at USD 4,309 per Mt.
US market was reported with a slow movement of several origins. Despite the time of year usually saw more stock of Sarawak from new crop, it was reported to be very quiet. Furthermore, as Indonesia and Brazil offered limited amount with no possible prompt shipment, Viet Nam was able to supply a large quantity to market. US stock for the 3rd and 4th quarters are yet to be covered while buyers are anxious on low price contract. 

 





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