IPC PEPPER MKT REPORT No. 26/20, 22 - 26 June 2020

LOCAL MARKET REPORT
Market this week showed mixed response as only Viet Nam and Sri Lanka origins were reported with a decrease. In local market, Malabar black pepper was reported stable at an average of USD 4,153 per Mt. Indonesia black and white pepper were reported with an increase of 3% and 1% respectively as opposed to the previous week averaging at USD 2,250 per Mt for black pepper and USD 3,164 per Mt for white pepper. The increase of Indonesia pepper locally could be contributed to the increase of demand as the price of Indonesia black and white pepper increased to an average of IDR 32,000 per Kg from IDR 31,000 per Kg in previous week for black pepper and IDR 45,000 per Kg from IDR 44,500 per Kg in previous week for white pepper. Malaysia black and white pepper in local market were reported with an increase of 4% and 2% respectively as compared to the previous week at an average of USD 1,909 per Mt for black pepper and USD 3,275 per Mt for white pepper. In contrast, Viet Nam black and white pep per were reported with 4% and 7% deficit respectively as opposed to the previous week averaging at USD 2,042 per Mt for black pepper and USD 2,854 per Mt for white pepper. Sri Lanka black pepper was reported with 2% deficit when compared to the previous week and was traded at an average of USD 2,643 per Mt. 

INTERNATIONAL  MARKET 
International market showed a similar trend as the local market. India black pepper was reported stable at an average of USD 4,417 per Mt. Indonesia black and white pepper were reported with an increase of 3% and 1% respectively as compared to the previous week averaging at USD 2,735 per Mt for black pepper and USD 3,757 per Mt for white pepper. Malaysia black and white pepper were reported with an increase of 2% and 1% respectively when compared to the previous week averaging at USD 3,420 per Mt for black pepper and USD 4,870 per Mt for white pepper. Furthermore, Viet Nam black pepper 500 g/l, 550 g/l and Viet Nam white pepper were reported with 3%, 3% and 1% deficit respectively as opposed to the previous week averaging at USD 2,408 per Mt, USD 2,488 per Mt and USD 3,760 per Mt respectively. 

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CASSIA PRICES EVOLUTION 2016-2020

INDONESIA CLOVES MKT INFORMATION

June25/2020

COVID cases are increasing by the day and there is no sign of plateau yet.
Currently there are about 48000 official cases with around 2500 deaths. Mind you, these are “official” statistics.
Meanwhile, due to the Dollar weakening and Fiscal Stimulus, IDR is getting stronger.
It went up all the way to 13900 and currently hovering around 14200 levels against the Dollar. Basically, a correction of about 7% in the short term and 14% in the Medium Term!

Island wise lockdown is still in force, although the new normal is underway in cities like Jakarta.
As a result of this, container, cargo as well as labor availability remains as a challenge.

Cloves:
Arrivals haven’t started yet.
Contrary to the belief of many that Indonesia will have another big crop like last year, it seems that it is not as big as was initially expected.
Making matters worse, there is an acute crisis of Labor.
Thumb rule is, at any growing area of Clove, there are more tree than people to pick the cloves. As a result of this, Clove owners tend to outsource people from adjoining islands during the picking season.
Now that most of the islands are following their self-imposed exile or 14 days of Quarantine, there is a strong possibility that net availability of cloves will remain low even at the peak season.
We also heard that one of the big boys has either started to purchase or will start soon. But the
exact time and quantity is difficult to predict.

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