LOCAL MARKET REPORT
Market this week showed mixed response with a rather positive outlook as only Malaysia origin was reported with a decrease. In local market, Malabar black pepper was reported with an increase of 1% as compared to the previous week at an average of USD 4,167 per Mt. Indonesia black pepper was reported with significant increase of 11% as opposed to the previous week averaging at USD 2,134 per Mt. The increase of Indonesia pepper could be contributed to the increase of demand while the stock were limited as well as the strengthening of Indonesian Rupiah against US Dollar (IDR 14,057 @ USD 1), an appreciation by 1% recorded. In local currency, the price of Indonesia black pepper increased to an average of IDR 30,000 per Kg from IDR 27,500 per Kg in previous week. Whilst, Indonesia white pepper was reported stable averaging at USD 3,166 per Mt. Malaysia black pepper was reported stable at an average of USD 1,726 per Mt whilst Malaysia white pepper was reported with slight increase of 1% when compared to the previous week at an average of USD 3,141 per Mt. Furthermore, Viet Nam black and white peppers were reported with an increase of 2% and 3% respectively as compared to the previous week at an average of USD 2,199 per Mt and USD 3,023 per Mt respectively. Sri Lanka black pepper was reported stable and was traded at an average of USD 2,722 per Mt. China white pepper was reported with an increase of 1% as compared to the previous week averaging at USD 4,225 per Mt locally.
INTERNATIONAL MARKET
International market showed a similar trend as the local market. India black pepper was reported with the same 1% increase as compared to the previous week at an average of USD 4,431 per Mt. Continuing the trend of the farm gate price, Indonesia black pepper was reported with significant increase of 10% as compared to the previous week averaging at USD 2,605 per Mt whilst Indonesia white pepper was reported stable at an average of USD 3,761 per Mt. In response to the harvest season, Malaysia black and white pepper were reported with 2% deficit respectively when compared to the previous week averaging at USD 3,601 per Mt for black pepper and USD 5,156 per Mt for white pepper. Furthermore, Viet Nam black pepper 500 g/l was reported stable with slightly increase averaging at USD 2,540 per Mt whilst Viet Nam black pepper 550 g/l and Viet Nam white pepper were reported with an increase of 1% respectively as opposed to the previous week at an average of USD 2,620 per Mt and USD 3,850 per Mt respectively. China white pepper was reported with an increase of 1% as compared to the previous week averaging at USD 4,425 per Mt internationally.
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