IPC Pepper Market Report No. 17/20, 20 - 24 April 2020

LOCAL MARKETS
Market this week showed a mixed response with Sri Lanka origin was reported with the highest decrease. In local market, Malabar black pepper was reported stable averaging at USD 4,155 per Mt. Indonesia black and white pepper were reported with an increase of 1% and 2% respectively as opposed to the previous week, averaging at USD 1,604 per Mt for black pepper and USD 2,791 per Mt for white pepper. Malaysia's black and white peppers were reported with 1% deficit respectively when compared to the previous week with an average of USD 1,690 per Mt for black pepper and USD 3,032 per Mt for white pepper. Furthermore, Viet Nam black and white pepper were reported with an increase of 2% respectively when compared to the previous week and was traded at an average of USD 1,628 per Mt for black pepper and USD 2,431 per Mt for white pepper. Sri Lanka black pepper was reported with 5% deficit as compared to the previous week and was traded at an average of USD 2,592 per Mt. China white pepper was reported stable and was traded at an average of USD 4,275 per Mt locally.

INTERNATIONAL MARKET
International market showed a rather positive outlook as Indonesia and Viet Nam origin were reported with an increase. India black pepper was reported stable at an average of USD 4,416 per Mt. Indonesia black and white pepper were reported with an increase of 1% and 2% respectively as compared to the previous week averaging at USD 1,983 per Mt for black pepper and USD 3,320per Mt for white pepper. Malaysia black and white pepper continued to be traded stable and unchanged. Furthermore, Viet Nam black pepper 500 g/l, 550 g/l and Viet Nam white pepper were reported with an increase of 2%, 2% and 1% respectively as compared to the previous week averaging at USD 2,130 per Mt, USD 2,160 per Mt and USD 3,060 per Mt respectively. China white pepper was reported steady and was traded at an average of USD 4,475 per Mt internationally.

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EXPORT OF PEPPER BY SINGAPORE

Singapore, officially the Republic of Singapore, is an island city-state in Southeast Asia. Although Singapore is not part of pepper producing country, Singapore exported a significant amount of pepper to the rest of the world.

In 2018, Singaporewas reported to have exported a total of 4,807 Mt of pepper from which 84% or 4,024 Mt of it comprised of whole pepper and 16% or 783 Mt of it ground pepper. Singapore on average exported a total of 401 Mt per month in 2018 which peaked in May with 699 per Mt. The total revenue of Singapore's export of pepper in 2018 was reported to be as high as USD 21.9 Million. Thus, recording an average price of the total pepper exported by Singapore at USD 3,698 per Mt for whole pepper and USD 9,052 per Mt for ground pepper.

Year 2019 saw a decrease in term of quantity of pepper exported by Singapore. Singapore was reported to have exported a total of 2,023 Mt of which 97% or 1,963 Mt of it comprised of whole pepper and 3% or 60 Mt of it ground pepper, recording a decrease of 58% when compared with 2018. The average export of pepper by Singapore in 2019 was reported to be at 169 Mt per month which also peaked in May with 287 per Mt. In accordance with decreasing in terms of quantity, Singapore's revenue from pepper export was also reported to have decreased by 71% as compared to the previous yearto a total of USD 6.3 Million. Thus, recording an average price of the total pepper exported by Singapore at USD 3,092 per Mt for whole pepper and USD 4,935 per Mt for ground pepper or a decrease by 16% and 45% respectively as compared with 2018.

As of January 2020, Singapore was reported to have exported a total of 126 Mt which 124 Mt of it comprised of whole pepper and or 2 Mt of it ground pepper. Thus, recording a decrease of 53% when compared to same period in 2019. The total revenue of pepper export by Singapore was reported to have reached USD 476,000, recording a decrease by 49% as compared to the same period in 2019. The average price of the total pepper exported by Singapore as of January2020 was reported at USD 3,760 per Mt for whole pepper and 5,000 per Mt for ground pepper.

Pepper from Singapore is widely traded in Asia, America, Europe and Africa. As of January 2020, Singapore's top 5 Country of destinations for its pepper were reported to be Nepal with 25 Mt (a decrease of 50% as compared to the same period in 2019), United States of America with 25 Mt (a decrease of 50%), Viet Nam with 17 Mt (2019 NA), Spain with 15 Mt (2019 NA) and Bangladesh with 10Mt (2019 NA). The significant decrease of export to United States of America was the result of United States of America starting to shift importing pepper from pepper origins countries such as Viet Nam (an increase by55 Mt or 2% as compared to the same period in 2019) and India (an increase by 42 Mt or 11%).

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