19 June 2020
LOCAL MARKET REPORT
Market this week showed mixed response with a rather negative outlook. In local market, Malabar black pepper was reported with 1% deficit as compared to the previous week at an average of USD 4,141 per Mt. Indonesia black pepper was reported with an increase of 2% as opposed to the previous week averaging at USD 2,182 per Mt. The increase of Indonesia pepper could be contributed to the increase of demand while the stocks were limited. In local currency, the price of Indonesia black pepper increased to an average of IDR 31,000 per Kg from IDR 30,000 per Kg in previous week. As this week Indonesia Rupiah depreciated by 1% against US Dollar, Indonesia white pepper was reported with a 1% deficit as compared to the previous week averaging at USD 3,132 per Mt. 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 1,834 per Mt for black pepper and USD 3,205 per Mt for white pepper. Furt hermore, Viet Nam black pepper was reported with 3% deficit as opposed to the previous week averaging at USD 2,135 per Mt whilst Viet white pepper was reported with an increase of 1% as compared to the previous week at an average of USD 3,066 per Mt. Sri Lanka black pepper was reported with 1% deficit when compared to the previous week and was traded at an average of USD 2,689 per Mt. China white pepper was reported stable and unchanged.
INTERNATIONAL MARKET
International market showed a similar trend as the local market. India black pepper was reported with the same 1% deficit as compared to the previous week at an average of USD 4,404 per Mt. Indonesia black pepper was reported with an increase of 2% as compared to the previous week averaging at USD 2,657 per Mt whilst Indonesia white pepper was reported with 1% deficit as compared to the previous week at an average of USD 3,721 per Mt. Contrary to the local market, internationally Malaysia black and white pepper were reported with 7% deficit respectively when compared to the previous week averaging at USD 3,350 per Mt for black pepper and USD 4,800 per Mt for white pepper. Furthermore, Viet Nam black pepper 500 g/l, 550 g/l and Viet Nam white pepper were reported with 2%, 2% and 1% deficit respectively as opposed to the previous week averaging at USD 2,490 per Mt, USD 2,570 per Mt and USD 3,800 per Mt respectively. China white pepper was reported stable and unchanged.
Trade activity in US market this week was reported slowing down due to instability of origin prices, financial problems and local currencies. Muntok white pepper for CF July/August was reported at USD 4.150 per Mt.
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