Global pepper industry facing imbalance between supply and demand

KUCHING (Nov 7): Deputy Prime Minister Datuk Seri Fadillah Yusof said the imbalance between supply and demand has been among the challenges faced by the global pepper industry. Fadillah, who is also the plantation and commodities minister, said the disparity has exerted significant pressure on prices and the cultivation of pepper in diverse regions. “According to the International Pepper Community (IPC), it was estimated that the world consumed approximately 213,000 tonnes of pepper in 2022, indicating a slight decline in demand compared to the preceding year, which saw consumption of 224,000 tonnes. “This decline can largely be attributed to the post-pandemic recovery and necessary demand adjustments,” he said during the opening ceremony of IPC’s 51st annual session and meeting here on Tuesday. Fadillah said global pepper production in 2022 reached 537,000 tonnes, a decline from the 548,000 tonnes recorded in 2021. “The decline in supply highlights the importance for us, together ...