IPC PEPPER MKT REPORT No. 11/21, 8 - 12 March 2021

 

LOCAL MARKET REPORT

Market this week showed a mixed response with only Malaysia local price was reported with a decrease. In local market, Malabar black pepper was reported with an increase of 1% when compared to the previous week, averaging at USD 4,715 per Mt. Indonesia black pepper was reported with an increase of 1% when compared to the previous week, averaging at USD 2,359 per Mt. Whilst, Indonesia white pepper was reported stable, averaging at USD 4,475 per Mt. Malaysia black and white pepper were reported with 1% deficit respectively as compared to the previous week, averaging at USD 2,459 per Mt for black pepper and USD 3,902 per Mt for white pepper. The decrease of Malaysia's pepper could be contributed to the weakening of Malaysian Ringgit against the US Dollar (MYR 4.11 @ USD 1), recording a 1% depreciation. Viet Nam black and white pepper were reported with an increase of 11% respectively as compared to the previous week, averaging at USD 2,697 per Mt for black pepper and USD 4,215 per Mt fo r white pepper. Sri Lanka black pepper was reported with an increase of 6% as compared to the previous week and was traded at an average of USD 2,924 per Mt.

INTERNATIONAL MARKET REPORT

International market was reported with a rather positive outlook as India black pepper was reported with the same increase of 1% when compared to the previous week, averaging at USD 4,989 per Mt. Indonesia black pepper was reported with an increase of 1% when compared to the previous week, averaging at USD 2,857 per Mt. Whilst, Indonesia white pepper was reported stable, averaging at USD 5,217 per Mt. Contrary to the local market, Malaysia black pepper was reported with an increase of 1% as compared to the previous week, averaging at USD 3,870 per Mt. Whilst, Malaysian white pepper was reported stable, averaging at USD 5,260 per Mt. Furthermore, Viet Nam black pepper 500 g/l, 550 g/l and Viet Nam white pepper were reported with an increase of 4%, 4% and 6% respectively as opposed to the previous week, averaging at USD 3,283 per Mt, USD 3,356 per Mt and USD 5,076 per Mt respectively.

US market as well as European markets were reported stable with a slight increasing trend. Muntok white pepper in US Market for CF March/April was reported in the range of USD 5.300 - 5,500 per Mt.