Indian Pimenta Pepper Exports Hit Record $1.1B
IndexBox has just published a new report: ‘India – Pimenta Pepper – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.
India remains the largest pimenta pepper exporter worldwide, comprising near half of the global exports. Last year, India managed to strengthen its leading position, with pimenta pepper exports skyrocketing to over 500K tonnes, or $1.1B. China was the key importer of Indian pepper, accounting for 32% of the total volume. The average export price for pimenta pepper from India jumped by +16% y-o-y in 2020.
Pimenta Pepper Exports from India
India ranks first among the world’s largest pimenta pepper exporters. Indian supplies abroad account for 51% of global pimenta pepper exports in physical terms.
In 2020, the amount of pimenta pepper exported from India expanded rapidly to 513K tonnes, increasing by +12% on the previous year. In value terms, pimenta pepper exports skyrocketed by +29.6% y-o-y to $1.1B (IndexBox estimates) in 2020.
China (163K tonnes) remains the main destination for pimenta pepper exports from India, with a 32% share of total exports. Moreover, pimenta pepper exports to China exceeded the volume sent to the second major destination, Bangladesh (66K tonnes), twofold. The third position in this ranking was occupied by Thailand (54K tonnes), with a 10% share.
In 2020, the volume of supplies to China increased by +8.8% y-o-y. Thailand saw the most prominent growth rate in terms of volume of purchases from India in 2020.
In value terms, China ($387M) remains the key foreign market for pimenta pepper exports from India, comprising 35% of total exports. The second position in the ranking was occupied by Thailand ($122M), with an 11% share of total exports. It was followed by Bangladesh, with a 9.5% share.
The average pimenta pepper export price stood at $2,147 per tonne in 2020, increasing by +16% against the previous year. There were significant differences in the average prices for the major export markets. In 2020, the country with the highest price was the U.S. ($2,671 per tonne), while the average price for exports to Bangladesh ($1,586 per tonne) was amongst the lowest. In 2020, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia, while the prices for the other major destinations experienced more modest paces of growth.
Source: IndexBox Platform