EXPORT OF PEPPER BY BRAZIL

June 26/2020
Brazil, known as one of the major pepper producing countries known for its Black Pepper, is reported to have a more competitive price as opposed to other origins. In recent year, Brazil has also surpassed Indonesia as the second largest pepper producer in the world with estimated quantity of 80,000 Mt in 2019. Brazil's increase of production could be contributed to the output of the first harvest of new plantation planted in 2017. Brazil, had also managed to take the second largest pepper exporter position from Indonesia in 2017.

In 2018, Brazil was reported to have exported a total of 72,580 Mt of pepper from which 99.8% or 72,456 Mt of it comprised of whole pepper and 0.2% or 124 Mt of it ground pepper. Brazil on average exported a total of 6,048 Mt per month in 2018 which peaked in November with 12,791 Mt. The highest pepper export in November was due to pepper harvest in Brazil during September-November. The total revenue of Brazil's export of pepper in 2018 was reported to be as high as USD 194.9 Million. Thus, recording the average price of the total pepper exported by Brazil at USD 2,687 per Mt for whole pepper and USD 1,952 per Mt for ground pepper.

Year 2019 saw an increase in term of quantity of pepper exported by Brazil. Brazil was reported to have exported a total of 84,676 Mt of which 99.9% or 84,607 Mt of it comprised of whole pepper and 0.1% or 68 Mt of it ground pepper, recording an increase of 17% when compared with 2018. The average export of pepper by Brazil in 2019 was reported to be at 7,056 Mt per month which peaked in October with 11,119 Mt.

Although increasing in terms of quantity, Brazil's revenue from pepper export was reported with a decrease by 8% as compared to the previous year to a total of USD 179.6 Million. Thus, recording an average price of the total pepper exported by Brazil at USD 2,121 per Mt for whole pepper and USD 1,766 per Mt for ground pepper or a decrease by 21% and 10% respectively as compared to 2018.

As of May 2020, Brazil was reported to have exported a total of 42,813 Mt which 99.8% or 42,741 Mt of it comprised of whole pepper and 0.2% or 72 Mt of it ground pepper. Thus, recording an increase of 8% when compared to the same period in 2019. As of May 2020, the total revenue of pepper export by Brazil was reported to have reached USD 82.0 Million, recording a decrease by 4% as compared to the same period in 2019. The average price of the total pepper exported by Brazil as of May 2020 was reported at USD 1,917 per Mt for whole pepper and USD 1,062 per Mt for ground pepper.

Pepper from Brazil is widely traded in America, Africa, Asia and European countries. As of May 2020, Brazil's top 5 Country of destinations for its pepper were reported to be United States of America with 5,911 Mt (an increase of 25% as compared to the same period in 2019), Morocco with 5,041 Mt (an increase of 73%), Viet Nam with 4,323 Mt (a decrease of 0.1%), Germany with 4,091 Mt (a decrease of 11%) and Egypt with 3,830 Mt (an increase of 66%). 

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IPC PEPPER MKT REPORT No. 26/20, 22 - 26 June 2020

LOCAL MARKET REPORT
Market this week showed mixed response as only Viet Nam and Sri Lanka origins were reported with a decrease. In local market, Malabar black pepper was reported stable at an average of USD 4,153 per Mt. Indonesia black and white pepper were reported with an increase of 3% and 1% respectively as opposed to the previous week averaging at USD 2,250 per Mt for black pepper and USD 3,164 per Mt for white pepper. The increase of Indonesia pepper locally could be contributed to the increase of demand as the price of Indonesia black and white pepper increased to an average of IDR 32,000 per Kg from IDR 31,000 per Kg in previous week for black pepper and IDR 45,000 per Kg from IDR 44,500 per Kg in previous week for white pepper. 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 1,909 per Mt for black pepper and USD 3,275 per Mt for white pepper. In contrast, Viet Nam black and white pep per were reported with 4% and 7% deficit respectively as opposed to the previous week averaging at USD 2,042 per Mt for black pepper and USD 2,854 per Mt for white pepper. Sri Lanka black pepper was reported with 2% deficit when compared to the previous week and was traded at an average of USD 2,643 per Mt. 

INTERNATIONAL  MARKET 
International market showed a similar trend as the local market. India black pepper was reported stable at an average of USD 4,417 per Mt. Indonesia black and white pepper were reported with an increase of 3% and 1% respectively as compared to the previous week averaging at USD 2,735 per Mt for black pepper and USD 3,757 per Mt for white pepper. Malaysia black and white pepper were reported with an increase of 2% and 1% respectively when compared to the previous week averaging at USD 3,420 per Mt for black pepper and USD 4,870 per Mt for white pepper. Furthermore, Viet Nam black pepper 500 g/l, 550 g/l and Viet Nam white pepper were reported with 3%, 3% and 1% deficit respectively as opposed to the previous week averaging at USD 2,408 per Mt, USD 2,488 per Mt and USD 3,760 per Mt respectively. 

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CASSIA PRICES EVOLUTION 2016-2020

INDONESIA CLOVES MKT INFORMATION

June25/2020

COVID cases are increasing by the day and there is no sign of plateau yet.
Currently there are about 48000 official cases with around 2500 deaths. Mind you, these are “official” statistics.
Meanwhile, due to the Dollar weakening and Fiscal Stimulus, IDR is getting stronger.
It went up all the way to 13900 and currently hovering around 14200 levels against the Dollar. Basically, a correction of about 7% in the short term and 14% in the Medium Term!

Island wise lockdown is still in force, although the new normal is underway in cities like Jakarta.
As a result of this, container, cargo as well as labor availability remains as a challenge.

Cloves:
Arrivals haven’t started yet.
Contrary to the belief of many that Indonesia will have another big crop like last year, it seems that it is not as big as was initially expected.
Making matters worse, there is an acute crisis of Labor.
Thumb rule is, at any growing area of Clove, there are more tree than people to pick the cloves. As a result of this, Clove owners tend to outsource people from adjoining islands during the picking season.
Now that most of the islands are following their self-imposed exile or 14 days of Quarantine, there is a strong possibility that net availability of cloves will remain low even at the peak season.
We also heard that one of the big boys has either started to purchase or will start soon. But the
exact time and quantity is difficult to predict.

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CASSIA MKT UPDATE JUNE 20, 2020

20-Jun-20

The March cassia crop (the main crop) ended more than a month ago.
Due to Covid pandemic, transactions in March-April was bleak, but since May the orders have increased and factories have been active in collecting goods to perform the signed contracts.

Cassia is no longer in farmers now, local traders also sold nearly all their stock to factories.
Currently, the amount of cassia, especially cigarette cassia have started to be scarce, the price of split cassia, broken cassia have increased by USD 200-300/ton compared to the price of early June.

The prices of cigarette cassia in factories are very different.
Some factories offer a little higher than the price in early June, possibly because they have collected more goods. But there are factories offering cigarette cassia very high, more than USD 300-400/ton compared to the average price in early June.

The market of Vietnamese cigarette cassia during last 2 years is quite good, high demand due to Indonesia price which are much higher than Vietnamese prices, so buyers turn to Vietnam.

It is expected that in coming time, price of cassia will continue to be stressful, especially for cigarette cassia, when the demand in countries recover after the pandemic while inventories are not much, the new cassia crop (subsidiary crop) will be available in Nov-Dec.

As in 2017/18/19, the price of cigarette cassia usually increases sharply from July to year-end. 

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EXPORT OF GREEN PEPPER BY INDIA

Green pepper is made from the fully developed but immature berries. They are preserved in brine, vinegar or citric acid and may be dried or kept in the preservative. Europeans are fascinated by the natural green color and fresh flavor of green pepper.
Green pepper is one of India's value-added pepper products. In the past three years, India exported quite significant amount of green pepper to various country in the world. In 2018, India was reported to have exported a total of 674,224 Kg of green pepper. The average export of green pepper by India in 2018 was reported to be 56,185 Kg per month which peaked in February with 119,655 Kg. The total revenue of India's export of green pepper in 2018 was reported to be as high as USD 7.7 Million. Thus, recording an average price of the total green pepper exported by India at USD 11 per Kg. The highest export price of green pepper from India in 2018 occurred in May, June and November with USD 13 per Kg respectively whilst the lowest price was reported in October with USD 8 per Kg.
Year 2019 saw a decrease in term of quantity of green pepper exported by India. India was reported to have exported a total of 624,187 Kg, recording a decrease by 7% when compared with 2018. The average export of green pepper by India in 2019 was reported to be 52,016 Kg per month which peaked in March with 148,773 Kg. In accordance with decreasing in terms of quantity, India's revenue from green pepper export was reported to have declined by 21% as compared to the previous year to a total of USD 6.1 Million. Thus, recording an average price of the total green pepper exported by India at USD 10 per Kg or a decrease by 13% as compared with 2018. The highest export price of green pepper by India in 2019 was reported in September with USD 12 per Kg whilst the lowest price was reported in December with USD 7 per Kg.
As of February 2020, India was reported to have exported a total of 203,420 Kg of green pepper. Thus, recording an increase of 15% when compared to the same period in 2019. As of February 2020, the total revenue of green pepper export by India was reported to have reached a total of USD 1.8 Million, recording an increase of 4% as compared to the same period in 2019. The average price of the total green pepper exported by India as of February 2020 was reported at USD 9 per Kg, recording a decrease of 9% as compared to the same period in 2019.
Green pepper from India is mostly traded in European Countries. As of February 2020, India's top 5 Country of destinations for its green pepper were reported to be Germany with 76,510 Kg (a decrease of 11% as compared with the same period in 2019), Netherland with 36,000 Kg (an increase of 50%), France with 16,590 Kg (an increase of 11,595 Kg), Belgium with 15,590 Kg (an increase of 42%) and Poland with 13,200 Kg (n.a 2019). 

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IPC PEPPER MKT REPORT No. 25/20, 15 - 19 June 2020

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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