Market Insider Spices March 2014

7/26/2019 Market Insider Spices March 2014

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Market Insider

SPICESMARKET INSIDER


2/21

Market Insider

SpicesReport prepared for ITCs Market insider by: Peter Jaeger

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3/21

INDEX

SPICES NEWS AND UPDATES......................................................................................................... 4MARKET DYNAMICS ......................................................................................................................... 6PRICES IN THE MARKET PLACE ..................................................................................................... 6

Spices .............................................................................................................................................. 6PRICES IN THE MARKET PLACE ..................................................................................................... 6

Herbs ............................................................................................................................................... 6STATISTICAL INFORMATION AND RELATED RESOURCES ........................................................ 7EVENTS .............................................................................................................................................. 6


4/21

Spices News and Updates

Jain Irrigation SystemsThe Economic Times of India report that Jain Irrigation Systems, the India based multinationalagribusiness, is proposing to add spices to its wide basket of products. "We have taken a decisionto enter the spice processing business. To begin with, we will export and eventually enter themarket," said Jain Irrigation MD Anil Jain.

The company will be launching major spices from black pepper, turmeric, ginger, cumin and chilli.The world's largest mango processor already sells dehydrated onion and vegetable products, fruitpurees, concentrates, clarified juices and frozen products under the Farm-Fresh brand name inIndia and overseas.

With an investment of Rs 50 crore (about USD8.3mn), a spice processing unit would be set up at

Nashik by next year. In the medium-to long term, the company plans to set up another spiceprocessing centre in Alwar in Rajasthan and a third in Udumalpet in Tamil Nadu, reported TheEconomic Times.

Source:http://articles.economictimes.indiatimes.com/2014-02-26/news/47705487_1_jain-irrigation-systems-major-spices-processing

Olam complesd the expansion of its spice processingfacility

In January this year, Olam Spices & Vegetable Ingredients (Olam SVI) reported the completed

expansion of its spice processing facility in Ho Chi Minh City, Vietnam. The expansion more thandoubles its previous production capacity and output of pepper, ginger, cinnamon and nutmeg.

The 85,300-sq.-ft spice processing facility will enhance cleaning and storage processes for blackpepper, and adds capabilities to process cinnamon, ginger and nutmeg products. Upgrades to theVietnam facility include cryogenic milling using liquid nitrogen; a pepper cleaning line; a Plant HTSTsteam sterilisation and pasteurisation system; and new pepper milling lines. Olam SVI has addedclimate control for balancing water activity in the processed products and expanded physicalstorage capabilities. New pepper, ginger, cinnamon and nutmeg grinding lines and equipment willmore than double production capacity and output for those products.

The expansion augments the facilitys existing separators, sifters and two steam sterilisers thatclean the spices and reduce microbial contamination. The facility

is one of the largest in the world in its category and employs more than 400 people. Olam SVIsefforts to improve quality standards of spices produced in Vietnam includes farmer training topromote safe agricultural practices. Structured courses are offered through learning centres andextension providers, and model farms have been established.

Source:http://olamonline.com/news/olam-spices-vegetable-ingredients-announces-expansion-of-its-vietnam-facility-enhancing-production-and-safety-of-its-black-pepper-and-spices/#sthash.r2fTfVzQ.dpuf
http://articles.economictimes.indiatimes.com/2014-02-26/news/47705487_1_jain-irrigation-systems-major-spices-processinghttp://articles.economictimes.indiatimes.com/2014-02-26/news/47705487_1_jain-irrigation-systems-major-spices-processinghttp://articles.economictimes.indiatimes.com/2014-02-26/news/47705487_1_jain-irrigation-systems-major-spices-processinghttp://articles.economictimes.indiatimes.com/2014-02-26/news/47705487_1_jain-irrigation-systems-major-spices-processinghttp://olamonline.com/news/olam-spices-vegetable-ingredients-announces-expansion-of-its-vietnam-facility-enhancing-production-and-safety-of-its-black-pepper-and-spices/#sthash.r2fTfVzQ.dpufhttp://olamonline.com/news/olam-spices-vegetable-ingredients-announces-expansion-of-its-vietnam-facility-enhancing-production-and-safety-of-its-black-pepper-and-spices/#sthash.r2fTfVzQ.dpufhttp://olamonline.com/news/olam-spices-vegetable-ingredients-announces-expansion-of-its-vietnam-facility-enhancing-production-and-safety-of-its-black-pepper-and-spices/#sthash.r2fTfVzQ.dpufhttp://olamonline.com/news/olam-spices-vegetable-ingredients-announces-expansion-of-its-vietnam-facility-enhancing-production-and-safety-of-its-black-pepper-and-spices/#sthash.r2fTfVzQ.dpufhttp://olamonline.com/news/olam-spices-vegetable-ingredients-announces-expansion-of-its-vietnam-facility-enhancing-production-and-safety-of-its-black-pepper-and-spices/#sthash.r2fTfVzQ.dpufhttp://olamonline.com/news/olam-spices-vegetable-ingredients-announces-expansion-of-its-vietnam-facility-enhancing-production-and-safety-of-its-black-pepper-and-spices/#sthash.r2fTfVzQ.dpufhttp://olamonline.com/news/olam-spices-vegetable-ingredients-announces-expansion-of-its-vietnam-facility-enhancing-production-and-safety-of-its-black-pepper-and-spices/#sthash.r2fTfVzQ.dpufhttp://olamonline.com/news/olam-spices-vegetable-ingredients-announces-expansion-of-its-vietnam-facility-enhancing-production-and-safety-of-its-black-pepper-and-spices/#sthash.r2fTfVzQ.dpufhttp://articles.economictimes.indiatimes.com/2014-02-26/news/47705487_1_jain-irrigation-systems-major-spices-processinghttp://articles.economictimes.indiatimes.com/2014-02-26/news/47705487_1_jain-irrigation-systems-major-spices-processing


5/21

IPC - The International Pepper Community announced theappointment of Mr. Tran Kim Long.

IPC- The International Pepper Community announced the appointment of Mr. Tran Kim Long,

Director General of International Cooperation Department, Ministry of Agriculture and RuralDevelopment of the Government of Vietnam, as the Chairman of the International PepperCommunity. Mr. Tran Kim Long assumed the office of the Chairman of the IPC from Datin NurmalaAbd. Rahim of Malaysia, who was the Chairperson of the IPC for the period of 2012/2013.

Mr. Tran Kim Long is currently the Director General of the International Cooperation Division underthe Ministry of Agriculture and Rural Development. His principal areas of responsibilities are on theDevelopment economics; participatory monitoring and evaluation; rural area development, projectimplementation and management, institutional and policy development, project planning andtraining.

World Spice Congress-The 12th World Spice Congress, a global platform for spices business, washeld in Cochin, India during February. The biennial event is organised jointly by the Spices Board

and the All India Spice Exporters Forum (AISEF). A statement issued by the Spices Board saidmore than 700 delegates from more than 40 countries were participating in the congress. A spicesexhibition was also inaugurated after the launch of the Spices Congress, the press release added.Over 50 companies, farmers, exporters and producers exhibited various spices and products at theevent. The meeting has stressed the need for driving quality up to the grass root level producers aspart of sustainability initiatives.

Margaret Hamburg, the US Food and Drug Administration Commissioner, called for collaborationsto enhance the safety of products that are exported to to the USA. Hamburg was on her firstofficial visit to India and had met drugs and food industry representatives in New Delhi, Mumbai andKochi to drive the point.Hamburg stated that the ongoing Indo-US collaboration is designed to enhance systematicresponses for addressing challenges related to food safety and the spice industry.

Regulatory

Codex Alimentarius holds its first session in Kerala, India

The Codex Committee on Spices and Culinary Herbs (CCSCH) held its First Session in Kochi(Cochin), Kerala, India from 11 to 14 February 2014.

The Committee agreed to the proposals from a working group on new work on the development ofstandards for black, white and green pepper, brown cumin, oregano, and thyme

A proposal for paprika was held pending further clarification from other committees as to whether itwas already in their work plans. Proposals for nutmeg, rosemary and saffron were to be revisedand resubmitted for consideration by the Committee at its next session.


6/21

Market Dynamics

CorianderRain damage to the Indian crop has added to supply concerns following a poor crop inEastern Europe last year. Although the higher oil content of Eastern European coriander is oftenpreferred, availability here has tightened, and, according to trade sources, buyers are lookingtowards south Asia. Prices in Europe are now around the US$1900/tonne level, up from a moretypical US$1500/tonne.

PepperThe New Year opened with a softer market for a short while, which then firmed up intothe lunar New Year and the Tet holidays. Lately, the Vietnamese Pepper Association (VPA) hasreportedly encouraged farmers to hold back pepper in order to maintain the steady tone in themarket.

According to the Ministry of Agriculture and Rural Development in January Vietnam exported19,000 tonnes of pepper worth US$132 million, down 8% in volume and 5.5% in value versus the

same period last year. The VPA is anticipating a current crop of some 120,000125,000 tonneswhile other observers suggest that annual production of the order of 150,000 tonnes is more likely.

The International Pepper Community (IPC) reported domestic prices in producing countries asfollows:

Producer Prices in US$ / tonne*


7/21


8/21

6Market Insider

Spices

Prices in the market place

Spices

All prices are quoted in US$/Kg

MARKET USA JAPAN EUROPE KUWAIT

PRODUCT GRADE PRICE GRADE PRICE GRADE PRICE GRADE PRICE

ThisWeek

2 Monthago

1 YearAgo

ThisWeek

2 Monthago

1 YearAgo

ThisWeek

2 Monthago

1 YearAgo

ThisWeek

2 Monthago

1 YearAgo

Black Pepper

Spot 8.05 Sarawak 9.20 FAQ 500g/l 7.15

TellicherryExtra Bold

11.02 Mal MG-1 9.75 FAQ 550g/l 7.80 MG1

NearbyDelivery

7.61 LampungSteamTreated550g/l

FAQ Vietnam

Brazil

White Pepper

Muntok FAQspot

12.68 MuntokMuntok FAQspot

11.65 FAQ

Muntoknearby

Brazil Brazilian spot

Sarawak 16.00Steam treatedMuntok spot

Vietnam 10.36 Vietnam 10.50

Aniseed

Whole Chinastar

6.83 China Star 7.60

Turkish 40.8 Syrian 1% 3.85

Caraway

Canadian 2.20 FAQ

Dutch Dutch 1.97

CardamomFancy Green 2.76 India AGS1 MYQ 5.75 No 1

Mixed Green India AGS Bold 13.23 No 2

Cassia

Korintji A3.00ML/SVO

2.47 China wholeKorintji B Br &Cl

Vera C/W 4.52 China broken 2.90 Vera AA China broken


9/21

7Market Insider

Spices




ThisWeek

2 Monthago

1 YearAgo

ThisWeek

2 Monthago

1 YearAgo

ThisWeek

2 Monthago

1 YearAgo

ThisWeek

2 Monthago

1 YearAgo

AA

Vietnamese5ML/SVO

Vietnam QNV 3.15

CeleryIndian spot Indian Indian 99%

Chili

Indian S4 2.54IndianSannam

S4 gradeIndianpowder

Africanfukien

3.97 ChineseMalawi BirdsEye

5.00Pakistanpowder

CinnamonCeylon H2 10.36

Sri Lanka C5SP

Sri Lanka c5cut

Cloves

Sri Lankahand picked

17.90 Madagascar 15.75Comores /Madagascar

13.80

Zanzibar Zanzibar

Indo stems

CorianderBulgarian

98% EastEuropean

1.97 Indian

Canadian 1.87

Cumin

Turkish 2.76 Turkish 98%

Syrian Syrian 99% 3.05 Iran

Indian Indian Indian 99% Indian

Dill Indian Indian 99%

Fennel

FancyEgyptian

Egyptian99%

Indian ASTA Indian Indian 99% Indian

Fenugreek Turkey 1.10 Indian 99% 0.86 Indian

Garlic

Ch. Powder 2.38 Flakes 2.48

Ch. Graned 2.60 Powder 2.09

Granules 2.34


10/21

8Market Insider

Spices




ThisWeek

2 Monthago

1 YearAgo

ThisWeek

2 Monthago

1 YearAgo

ThisWeek

2 Monthago

1 YearAgo

ThisWeek

2 Monthago

1 YearAgo

Ginger

Cochin 5.29 Cochin Cochin 4.30

Chinesesliced

Chinesesliced

Chinese sliced Chinese

Chinesepeeled

463Chinesewhole

Chinese peeled 4.98

Nigerian 3.20 Nigerian 2.25

MaceSiauw No 2siftings

35.27 Siauw whole 22.50 PNG Whole 16.00

Indonesian

Mustard

No 1 YellowCanadian

1.57 Canada Yellow 1.36

Brownoriental

1.54 Canada Brown 1.31 Indian

India

Nutmeg

E.I. ABCDs 20.39 Indo 110's 20.50 Indonesian SS 15.20

E.I. cracked 18.19 WI 110's 16.90

EI ABCDs

OnionEgypt pow Powder

India pow Flakes

Paprika

Spanish 120ASTA

5.18

Spanish

visual

Spanish 80

ASTA2.70

Hungarian 6.83Hungarian 100ASTA

Peru ASTA 2.09Peru HT90ASTA

Pimento

Mexico/Guatemala

4.30 Mexican 5.00Mexico/Guatemala

4.45

Jamaica 6.95 Jamaica Jamaica 6.50


11/21

9Market Insider

Spices




ThisWeek

2 Monthago

1 YearAgo

ThisWeek

2 Monthago

1 YearAgo

ThisWeek

2 Monthago

1 YearAgo

ThisWeek

2 Monthago

1 YearAgo

PoppyDutch Dutch

Australian Turkey

Sesame

IndianNatural

CentralAmericanhulled

Indianhulled Indian Hulled Indian Hulled

Turmeric

Alpey 5.25

curcuminMadrasfingers

Madras fingers

Alpey 5.0curcumin

Alleppeyfingers

Powder

Indianground

IndianRajapuri

Madraspowder

Vanilla! Bourbon Bourbon1Vanilla the prices given here are indicative of the value of bulk sales at origin. Selling prices within Europe are substantially higher as they reflect much smaller quantities that may be specially packaged.


12/21

Prices in the market place

Herbs

All prices are quoted in US $/Kg

USA EUROPE

PRODUCT GRADE PRICE GRADE PRICEThis

Week

2 MonthAgo

1YearAgo

This

Week

2 MonthAgo

1YearAgo

Basil

Egyptian FAQ 3.09 Egypt 2.91

Egyptian Extra Fancy Egypt fines

Bay leaves

Turkish Fancy FAQ

Turkish semi select 3.86 Turkishsemi-select5.15

Chervil German

Dill weed

Egyptian 1.85 Cut 2.71

Californian

MarjoramEgypt Fancy 3.97 Egypt 3.88

Mint

Peppermint 5.07

Spearmint 6.50 Egyptian 6.12

Oregano Turkish 30# 6.28 Turkish 3.45

Parsley

Israeli 6.50European

2mm6.81

RosemaryMorocco 1.96 Morocco 2.17

Spanish Spanish 2.17

SaffronSpanish Iranian

Sage Albanian 5.07 Turkish 6.46

SavouryAlbanian 3.53 German 5.35

TarragonFrench 27.56 French 24.67

ThymeSpanish 3.88 Spanish 3.20

Moroccan 3.88 Moroccan 3.20


13/21

Statistical information and related resources

Update of EU Spice Imports

0

20,000

40,000

60,000

80,000

Jan.-Dec.

2008

Jan.-Dec.

2009

Jan.-Dec.

2010

Jan.-Dec.

2011

Jan.-Dec.

2012

Jan.-Dec.

2013

Tonnes

EU 27 Imports of Pepper

PEPPER OF THE GENUS PIPER, CRUSHED OR GROUND

PEPPER OF THE GENUS PIPER, NEITHER CRUSHED NOR GROUND

0

20,000

40,000

60,000

80,000

Jan.-Dec.

2008

Jan.-Dec.

2009

Jan.-Dec.

2010

Jan.-Dec.

2011

Jan.-Dec.

2012

Jan.-Dec.

2013

Tonnes

EU 27 Imports of Pepper by origin

Vietnam Brazil Indonesia India EU27 Extra


14/21

0

20,000

40,000

60,000

80,000

Jan.-Dec.

2009

Jan.-Dec.

2010

Jan.-Dec.

2011

Jan.-Dec.

2012

Jan.-Dec.

2013

Tonnes

EU 27 Imports of Ginger

PERU

THAILAND

INDIA

NIGERIA

BRAZIL

CHINA

TOTAL

0

500

1,000

1,500

2,000

2,500

Jan.-Dec.

2009

Jan.-Dec.

2010

Jan.-Dec.

2011

Jan.-Dec.

2012

Jan.-Dec.

2013

Ton

nes

EU 27 Imports of Cardamoms

INDIA

GUATEMALA

TOTAL


15/21

0

500

1,000

1,500

2,000

2,500

3,000

3,500

Jan.-Dec.

2009

Jan.-Dec.

2010

Jan.-Dec.

2011

Jan.-Dec.

2012

Jan.-Dec.

2013

Tonn

es

EU 27 Imports of Cloves

VIETNAM

BRAZIL

SRI LANKA

INDONESIA

COMOROS

MADAGASCAR

TOTAL

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

Jan.-Dec.

2009

Jan.-Dec.

2010

Jan.-Dec.

2011

Jan.-Dec.

2012

Jan.-Dec.

2013

Tonnes

EU 27 Imports of Coriander

ARGENTINA

SYRIA

TURKEY

EGYPT

MOROCCO

RUSSIA

INDIA

UKRAINE

TOTAL

0

2,000

4,000

6,000

8,000

10,000

12,000

Jan.-Dec.

2009

Jan.-Dec.

2010

Jan.-Dec.

2011

Jan.-Dec.

2012

Jan.-Dec.

2013

Tonnes

EU 27 Imports of Cumin

TURKEY

INDIA

SYRIA

TOTAL


16/21

0

200

400

600

800

1,000

1,200

1,400

Jan.-Dec.

2009

Jan.-Dec.

2010

Jan.-Dec.

2011

Jan.-Dec.

2012

Jan.-Dec.

2013

To

nnes

EU 27 Imports of Mace

INDIA

SRI LANKA

GRENADA

VIETNAM

INDONESIA

TOTAL

0

1,000

2,000

3,000

4,000

5,000

Jan.-Dec.

2009

Jan.-Dec.

2010

Jan.-Dec.

2011

Jan.-Dec.

2012

Jan.-Dec.

2013

Tonnes

EU 27 Imports of Nutmeg

SRI LANKA

INDIA

VIETNAM

GRENADA

INDONESIA

TOTAL

0

500

1,000

1,500

2,000

2,500

Jan.-Dec.

2009

Jan.-Dec.

2010

Jan.-Dec.

2011

Jan.-Dec.

2012

Jan.-Dec.

2013

Tonnes

EU 27 Imports of Vanilla

UGANDA

COMOROS

JAMAICA

INDONESIA

INDIA

MADAGASCAR

TOTAL


17/21


18/21

Events

Event Start Date End Date Country City URL

Barcelona Alimentaria 31/03/2014 03/04/2014 Spain Barcelona www.alimentaria-bcn.com

Prodamach Frost Upak 01/04/2014 04/04/2014 Belarus Minsk www.minskexpo.com

Natural & Organic Products

Europe

13/04/2014 14/04/2014 UK London www.naturalproducts.co.uk

WorldFood Uzbekistan 20/04/2014 04/04/2014 Uzbekistan Tahkent www.ite-uzbekistan.uz

Food Ingredients Istanbul 24/04/2014 26/04/2014 Turkey Istanbul www.foodingredientsglobal.com/istanbul/home

Thaifex World of Food Asia 21/05/2014 25/05/2014 Thailand Bangkok www.worldoffoodasia.com

Food Ingredients Vietnam 21/05/2014 23/05/2014 Vietnam HCMC www.foodingredientsglobal.com/vietnam/home

Mexico Alimentaria 03/06/2014 05/06/2014 Mexico Mexico City www.alimentaria-mexico.com

IFT 21/06/2014 24/06/2014 USA New Orleans www.am-fe.ift.org

International Pepper Conclave 24/06/2014 25/06/2014 UAE Dubai www.ipcnet.org/


19/21


Food Ingredients South

America

05/08/2014 07/08/2014 Brazil Sao Paulo www.foodingredientsglobal.com/southamerica/home

Inprodmash 09/09/2014 11/09/2014 Ukraine Kiev www.inprodmash.ua

Brazil Alimentaria 15/09/2014 18/09/2014 Brazil Sao Paulo www.alimentariabrasil.com.br

World Food Moscow 15/09/2014 18/09/2014 Russia Moscow www.world-food.ru

Natural Products Expo East 17/09/2014 20/09/2014 USA Baltimore www.expoeast.com

Annapoorna World of Food

India

24/09/2014 26/09/2014 India Mumbai www.worldoffoodindia.com

Food Ingredients India 29/09/2014 01/10/2014 India Mumbai www.foodingredientsglobal.com/india/home

Agroprodmash 06/10/2014 10/10/2014 Russia Moscow www.agroprodmash-expo.ru

Food Ingredients Asia 15/10/2014 17/10/2014 Indonesia Jakarta www.foodingredientsglobal.com/asia-indonesia/home

SIAL 19/10/2014 23/10/2014 France Paris www.sialparis.com

World Food Kazakhstan 05/11/2014 07/11/2014 Kazakhstan Astana www.worldfood.kz


20/21


Gulfood Manufacturing 09/11/2014 11/11/2014 UAE Dubai www.gulfoodmanufacturing.com

World of Food Beijing 26/11/2014 28/11/2014 China Beijing www.worldoffoodbeijing.com

Horecava 12/01/2015 15/01/2015 Netherlands Amsterdam www.horecava.nl/

Gulfood 08/02/2015 12/02/2015 UAE Dubai www.gulfood.com

Prod Expo 09/02/2015 13/02/2015 Russia Moscow www.prod-expo.ru

International Food & Drink

Event

22/03/2015 25/03/2015 UK London www.ife.co.uk

Food Ingredients Asia 09/09/2015 11/09/2015 Thailand Bangkok www.foodingredientsglobal.com/asia-thailand/home

IBA 12/09/2015 17/09/2015 Germany Munich www.messe-duesseldorf.de

ANUGA 10/10/2015 14/10/2015 Germany Cologne www.anuga.de

Food Ingredients Europe 01/12/2015 03/12/2015 France Paris www.foodingredientsglobal.com/europe/home


21/21

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