IPC PEPPER MKT REPORT No. 16/21, 12 - 16 April 2021

 

LOCAL MARKET REPORT

As Muslims around the world celebrate Ramadhan amidst the global pandemic of Corona Virus, market showed a mixed response. In local market, Malabar black pepper was reported with 1% deficit when compared to the previous week, averaging at USD 5,166 per Mt. The decrease of India's pepper could be contributed to the weakening of Indian Rupee against the US Dollar (INR 75.05 @ USD 1), recording a 2% depreciation. Indonesia black and white pepper were reported with a 1% and 4% deficit respectively when compared to the previous week, averaging at USD 3,144 per Mt for black pepper and USD 6,015 per Mt for white pepper. The decrease of Indonesian price could be contributed to the weakening of Indonesian Rupiah against the USD Dollar (IDR 14,630 @USD 1), recording a 1% depreciation. It was also reported that the current situation of pepper prices in Bangka Province of Indonesia was more influenced by speculators which possessed more stock as compared to farmers. Malaysia black and white pepp er were reported with an increase of 5% and 3% respectively as compared to the previous week, averaging at USD 2,979 per Mt for black pepper and USD 4,387 per Mt for white pepper. Viet Nam farm gate price of black and white pepper were reported with 2% and 3% deficit respectively as compared to the previous week, averaging at USD 2,926 per Mt for black pepper and USD 4,506 per Mt for white pepper. Furthermore, China white pepper was reported stable and unchanged.

INTERNATIONAL  MARKET REPORT

International market also showed a mixed response as India black pepper was reported with the same 1% deficit when compared to the previous week, averaging at USD 5,433 per Mt. Indonesia black and white pepper were reported with 1% and 4% deficit respectively when compared to the previous week, averaging at USD 3,751 per Mt for black pepper and USD 6,933 per Mt for white pepper. Malaysia black and white pepper were reported stable and unchanged. Contrary with its local price, Viet Nam black pepper 500 g/l, 550 g/l and Viet Nam white pepper were reported with an increase of 1% respectively as opposed to the previous week, averaging at USD 3,635 per Mt, USD 3,675 per Mt and USD 5,370 per Mt respectively. China white pepper was reported stable and unchanged.