The U.S spot market has seen very little changes over these past weeks with no significant price movement recorded due to continuous restrained of product availability. With India awaiting new crops, most of the crops would be consumed domestically. Nearing the new crop arrivals, exporters in Viet Nam experienced pressure on selling their products.
The price of black pepper at the local level this week showed a mixed response. In dollar terms, the prices of black pepper in India, Indonesia, and Viet Nam declined by 2%, 8%, and 2% respectively. The highest price decline occurred in Indonesia, recording a decline of USD 209 per
MT, from USD 2,578 per MT last week to USD 2,369 per MT this week. Furthermore, the prices of black pepper in Malaysia and Sri Lanka were reported to increase by 1% and 6% respectively. In local currency, the average prices of black pepper at the farm level were reported to be IDR
34,100 per kg, VND 55,500 per Kg, RS 364 per Kg, RM 9 per Kg, and LKR 700 per Kg.
Furthermore, the price of white pepper this week was also reported to vary. In Viet Nam, the price of white pepper was reported to be stable at USD 3,741 per MT. In Indonesia, white pepper prices in dollar terms reported a 4% decline compared to last week. Whereas in Malaysia the price of white pepper experienced a 1% increase from last week. At the local level, the average price of white pepper in local currency was reported to be IDR 53,100 per Kg in Indonesia, VND 87,500 per Kg in Viet Nam, and MR 15 per Kg in Malaysia. Both local and FOB price in China were reported to record a sight decrease as compared to the opening of the week.