IPC PEPPER MKT REPORT No. 14/21, 29 March - 2 April 2021

LOCAL MARKET REPORT

Market this week showed a rather positive response with only Sri Lanka was reported with a decrease. In local market, Malabar black pepper was reported with an increase of 2% when compared to the previous week, averaging at USD 5,075 per Mt. Indonesia black and white pepper were reported with an increase of 11% and 14% respectively when compared to the previous week, averaging at USD 2,997 per Mt for black pepper and USD 6,028 per Mt for white pepper. The increase of Indonesian pepper price could be contributed to the increase of demand amidst the limited stock. Though farmers' stocks depleted, it was reported that some speculators bought a hefty amount for their in-stock and further business. Malaysia black and white pepper were reported with an increase of 5% and 3% respectively as compared to the previous week, averaging at USD 2,679 per Mt for black pepper and USD 4,097 per Mt for white pepper. Viet Nam farm gate price of black pepper was reported with an increase of 1% as compar ed to the previous week, averaging at USD 3,035 per Mt. Whilst, Viet Nam white pepper was reported stable, averaging at USD 4,710 per Mt. Furthermore, Sri Lanka black pepper was reported with 2% deficit as compared to the previous week and was traded at an average of USD 3,290 per Mt. China white pepper was reported with an increase of 1% as opposed to the previous week and was traded at an average of USD 6,185 per Mt locally.

INTERNATIONAL MARKET REPORT

International market was reported with a positive outlook as India black pepper was reported with the same increase of 2% when compared to the previous week, averaging at USD 5,348 per Mt. Indonesia black and white pepper were reported with an increase of 10% and 13% respectively when compared to the previous week, averaging at USD 3,583 per Mt for black pepper and USD 6,949 per Mt for white pepper. Malaysia black and white pepper were reported with an increase of 5% and 4% respectively as compared to the previous week, averaging at USD 4,225 per Mt for black pepper and USD 5,560 per Mt for white pepper. Furthermore, Viet Nam black pepper 500 g/l, 550 g/l and Viet Nam white pepper were reported stable and unchanged. China white pepper was reported with an increase of 1% as opposed to the previous week and was traded at an average of USD 6,385 per Mt.

The price of pepper in the US market remained high as Muntok white pepper for CF April/May was reported at USD 7,300 per Mt.