IPC Market Report No. 41/19, 7 - 11 October 2019

LOCAL MARKET 
Market this week showed mixed response with Sri Lanka recorded the highest increase for its local market price and Viet Nam for its International market price.
In local market, Malabar black pepper was traded with a 1% deficit as compared to the previous week with an average of USD 4,516 per Mt.
Indonesia black and white pepper were reported stable and relatively unchanged at an average of USD 1,624 per Mt and USD 3,284 per Mt respectively.
Malaysian black and white pepper were also reported stable with an average of USD 2,000 per Mt for black pepper and USD 3,513 per Mt for white pepper.
Furthermore, Viet Nam black pepper was reported with a decrease by 1% as compared to the previous week averaging at USD 1,702 per Mt. Viet Nam white pepper was reported to be traded stable with an average of USD 2,626 per Mt.
Recording a 7% spike as opposed to the previous week, Sri Lanka black pepper became the only product which recorded an increase in local market and was traded at an average of USD 2,570 per Mt.
Whilst, China white pepper was reported to be traded with an average of USD 4,635 per Mt.

INTERNATIONAL MARKETIn international market, the trend also showed mixed response as only Viet Nam reported an increase.
FOB price of India black pepper was reported with the same 1% deficit as compared to the previous week at an average of USD 4,797 per Mt.
Indonesia black and white pepper was reported steady with at an average of USD 2,021 per Mt for black pepper and USD 3,891 per Mt for white pepper.
Malaysia black and white pepper continued to be traded stable and unchanged.
Furthermore, Viet Nam black pepper 500 g/l and 550 g/l were reported with an increase by 6% respectively as opposed to the previous week averaging at USD 2,345 per Mt and USD 2,410 per Mt respectively.
Viet Nam white pepper was also reported with an increase by 4% when compared to the previous week averaging at USD 3,495 per Mt.
The increase of Viet Nam prices in international market could be contributed to China buying significant amount of pepper from Viet Nam. As of August 2019, Viet Nam's top country of destination is China.
China traded its white pepper in the international level with an average of USD 4,835 per Mt. 

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