In recent weeks, Malaysia's domestic pepper prices have dropped to their lowest level since the beginning of the year due to the selling pressure of Indonesian farmers.
In Kuching market, on July 27, the price of KG1 white pepper decreased to RM 23,600 / ton and black pepper to RM 14,570 / ton, eliminating all price results achieved since the beginning of the year.
About four months ago, the price of pepper increased to a record high when white pepper increased to RM 27,000 / ton and black pepper to RM 17,800 / ton. But now prices have fallen below the final price of 2011 for white pepper RM 24,850 / ton and black pepper 15,600 RM / ton.
In 2010 and 2011, due to tight global supply, Malaysia's pepper prices increased strongly, totaling an increase of RM 9,500 / ton for white and 6,250 RM / ton for black pepper.
Grunsin Ayom, head of the Malaysian Pepper Commission (MPB), said that domestic pepper prices have now been lowered due to the selling pressure from Indonesian new pepper crop being launched.
Reply newspaper StarBizWeek, “Indonesian farmers are selling their new crop to prepare for the Hari Raya festival next month,” he said.
According to the International Pepper Community (IPC) forecasts, Indonesia's pepper production in 2012 is expected to increase from 33,000 tons last year to 41,000 tons, of which there are an estimated 25,000 tons of black pepper and 16,000 tons of white pepper. .
Grunsin added that traders had expected domestic prices to recover after Hari Raya, so global pepper prices would not drop much. “We are monitoring the market situation in Indonesia. The country's domestic pepper price will be higher than current levels when 2012 ends, ”he said.
According to the report, Malaysia's supply will improve when Sarawak's new pepper crop enters the market.
The state of Sarawak, which accounts for 99% of Malaysia's exports, has harvested about 65% to 70% of the new crop. Recent adverse weather changes have prevented new crops to be harvested.
“The delay in new crop harvest has made Malaysia's pepper exports for the first six months of the year an estimated 4,500 tons compared to 6,193 tons in the same period last year,” added Grunsin.
Giatieu.com
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