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Market Insider SPICES MARKET INSIDER
Market Insider
SPICES MARKET INSIDER
Market Insider Spices Building awareness and assisting developing countries with access to trade and market information has been at the heart of the International Trade Centre (ITC) work. The Market Insider is a newly branded global public goods service built on a "blog" interface to provide just-in-time content on market prices and industry developments focusing on forward-looking intelligence in anticipation of market opportunities, market dynamics, quality issues, trade events and sector-specific intelligence on commodities of interest to developing countries. No part of these reports may be reproduced, stored in a retrieval system, or transmitted in any form or by any means without the prior permission of the MI/ITC Geneva. Market Insider information is available free of charge to trade support institutions, enterprises and research institutions in developing and developed countries. Please log on to: http://www.intracen.org/itc/market-insider
@ITCMktInsider Copyright © Market Insider/ITC 2015. All rights reserved
INDEX SPICES NEWS AND UPDATES ........................................................................................................ 1 MARKET DYNAMICS ......................................................................................................................... 3 PRICES IN THE MARKET PLACE ..................................................................................................... 4
Spices .............................................................................................................................................. 4 PRICES IN THE MARKET PLACE ..................................................................................................... 8
Herbs ............................................................................................................................................... 8 STATISTICAL INFORMATION AND RELATED RESOURCES ........................................................ 9 EVENTS ............................................................................................................................................ 15
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Spices News and Updates
Seed testing lab proposed for Kandla Port The Economic Times reports that the Spices Board of India has decided to establish a seed testing laboratory at Kandla Port in Kutch. The intention is to ensure the quality and purity of the large quantities of cumin and coriander exported from Gujarat State through the port. According to Spice Board chairman, Dr. A. Jayathilak this will be the first such facility in Gujarat. Dr Jayathilak said” To meet the global standards of seed spices exported from Gujarat, the board has decided to set up a testing lab at Kandla Port at a cost of INR15 crore. Six such laboratories are already functioning across the country, including at Mumbai, Cochin, Delhi and Chennai”. Gujarat is a leading state in producing and exporting seed spices such as cumin, coriander, fennel and fenugreek. However, quality of these spices remains a major cause of concern. Dr Jayathilak continued “Quality of Indian spices is a key issue for us. In 2014, sixteen consignments of our spices were returned by Europe for sub-standard quality. That number was 180 in 2011. In my opinion, if our exporters maintain quality, then we can easily capture 100percent of world’s market”. The Vice chairman of the Board, Bhaskar Shah, said that cumin from Unjha in Gujarat caters to 90 percent of the world’s consumption, while the second spot goes to Syria, which produces cumin only for exports. “In 2013-14, cumin export from India was around 50,000 tons, which suddenly shot up to 1.5lakh tons last year. It was mainly because Syria failed to export due to the ISIS crisis. Now, to maintain that lead, Indian exporters have to work hard on quality” the Vice Chairman said. “I have to admit” he continued “that Indian exporters are not very keen to maintain quality. Thus it is possible that Syria may bounce back and snatch that market from us a s Syrian spices are way ahead of us in terms of quality. Thus, it is high time for Indian exporters to focus on quality”.
Cumin exports from India rise as Syria crisis persists
The Times of India reports increasing exports of cumin from India fuelled by the ongoing crisis in Syria. The Vice Chairman of the Spices Board of India, Bhaskar Shah, said “Syria is our major competitor in jeera (cumin) export market. Due to the growing threat of ISIS and ongoing crisis in Syria, buyers chose to import from India fuelling the export of the commodity in 2014-15”. Latest data from the Spices Board indicate that cumin exports in 2014-15 stood at 155 000 tons against a target of 100,000 tons. Almost 90% of the cumin produced in India is grown in Gujarat and Rajasthan towards the northwest of the country. Total production varies between 250,000 and 400,000 tons annually. The other major producers of cumin seed are Syria and Turkey. The planting in Syria has been disrupted by the crisis and exporters are wary of booking contracts now. Consequently, Far East markets are looking to India for supply. However, the increase in exports is also a result of the lower prices prevalent in the market last year and as prices have risen in 2015, exports have fallen back somewhat.
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Kerala cardamom planters struggle Kochi traders report difficulties in the Kerala cardamom production. A shortage of workers has led to difficulties for planters with demands for increased wages leading to disputes. Workers are demanding a daily wage of INR500 (USD7.7/day) compared to the more current range of INR350-400 / day. The demands follow a successful agitation by workers on the tea plantations. The harvesting problems were compounded during talks to resolve the differences by a return of the monsoon. Heavy rains threatened the harvest. We wait to see the outcome. Earlier forecasts had suggested a crop equivalent to the 12,000 – 13,000 tons harvested last season.
Turkish poppy seed import to India still denied
Turkish broker, Turkey Dalal, reports (http://www.hksturkey.com/reports-on-turkish-white-poppy-seeds.htm) on the market difficulties in face of the continued ban on importing Turkish poppy seeds to India. Turkey Dalal reports that FOB values have slipped from USD3,000 / ton to USD2,500/ ton as India, the major buyer of Turkish poppy seeds, is no longer in the market. Simultaneously, prices in India are rising as stocks of Turkish poppy seed decline and the Indian Spices Board report prices up 10% on the year at USD5.20 /kg. The problems arise from April earlier this year when the Indian government banned the import of white poppy seed from Turkey. The ban was introduced in a move to protect the poppy farmers in states such as Madhya Pradesh and Rajasthan. They grow poppies for the legitimate opium business where sales of the seeds, known as Khas khas, have provided a useful supplementary income. Lately, with changes in the legitimate trade for opium products, and under increasing pressure from illegal imports of the resin from Afghanistan and Pakistan, farmers have become increasingly dependent on the sale of the seeds for their survival. However, imports from Turkey are more competitive and in consequence the Indian poppy farmers find their incomes dwindling. Representations by the farmers to the Government have resulted in restrictions on imports from Turkey over the last two years imposed by the Central Bureau of Narcotics. Meanwhile, in Turkey the Turkish Grain Board, who manage the state monopoly on opium, has announced that 2015 poppy seed production reached 30,750 tons of which about 80% is white poppy seeds and the balance blue. As the ban persist further difficulties are expected both at origin and in the Indian market.
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Market Dynamics Pepper – A mixed trend this month. Indonesia export prices drifted down during October while Malaysian FOB values moved up and Vietnamese black pepper prices moved sideways. In the European markets spot values remain firm, especially for small quantities with the correct microbiological and pesticide reports. Forwards expectations are for a weakening market as the new crop starts coming in during Q1 of 2016. The International Pepper Community (IPC) have reported producer prices as follows: (Indicative prices as received by growers. Based on information received from regional reporters)
Source: IPC Weekly Prices Bulletin data
Trade sources in Europe report a quiet month on market movement. The principle activity was seen in: Cardamoms MYQ quality have come down from EUR4.40kg to EURO4.15 FOT Cloves Madagascar whole cloves CG3 quality have dropped from EUR7.00kg to EUR6.85 FOT Ginger The market remains the same, but the Nigerian new crop will be harvested End November. Indications are the crop is good and the price will move down from USD$3200 ton Nutmeg This market remains firm, especially the spot market. Other spices Little change elsewhere in the market.
4 Market Insider
Spices
Prices in the market place Spices
All prices are quoted in US$/Kg
MARKET → USA JAPAN EUROPE
PRODUCT GRADE PRICE GRADE PRICE GRADE PRICE
This Week 2 Month ago
1 Year Ago
This Week
2 Month ago
1 Year Ago
This Week
2 Month ago 1 Year Ago
Black Pepper
Spot 550g/l 10.91 11.50 12.12 Sarawak 10.50 10.80 12.00 Sarawak
Mal MG1 Mal MG-1 12.30 12.30 13.30 FAQ 550g/l 9.50 10.20 10.60
FAQ 500g/l 10.80 10.69 11.02 Lampung FAQ 500g/l 8.90 10.00 10.20
Steam treated 550g/l
Brazil
White Pepper
Muntok FAQ spot 15.65 15.65 15.43 Muntok 16.50 16.50 15.30 Muntok FAQ spot 13.70 14.80 13.70
Sarawak 17.00 17.00 17.00 Steam treated Muntok spot
13.90
Vietnam Vietnam 13.70 14.80
Aniseed Whole China star
Vietnam Star
Turkish/Syrian 4.63 4.63 4.75 Syrian 2.97 3.33
Caraway Canadian 3.42 3.20 2.54 FAQ
Dutch European 3.14 2.88 2.03
Cardamom Bold 15.98 15.98 16.75 India AGS1 MYQ 4.15 5.20 5.20
Seed 9.37 9.37 India AGS Bold 12.05
Cassia
Korintji B 3.00 ML/SVO
2.03 2.03 2.87 China whole 3.70 3.70 3.70 Korintji B Br & Cl 1.87 1.92 2.86
Vera C/W AA 4.03 4.08 4.97 China broken 3.50 3.50 3.50 Vera AA 3.85
5 Market Insider
Spices
MARKET → USA JAPAN EUROPE
PRODUCT GRADE PRICE GRADE PRICE GRADE PRICE
This Week 2 Month ago
1 Year Ago
This Week
2 Month ago
1 Year Ago
This Week
2 Month ago 1 Year Ago
Vietnamese 5ML/SVO
Vietnam QNV 3.80 3.80 3.80
Celery Indian spot 2.03 2.03 2.00 Indian Indian 99% 2.52
Chili Indian S4 3.20 3.02 2.55 Indian Sanna S4 grade
Malawi 3.97 3.97 3.97 Chinese African Bird’s Eye 10.00 10.00 5.50
Cinnamon Ceylon H2 12.02 12.02 Sri Lanka C5 SP Sri Lanka c5 cut
Cloves
Sri Lanka hand picked
19.29 19.29 20.40 Madagascar 10.50 10.50 13.50 Comores / Madagascar
6.85 9.83 11.29
Comores/ Mada 11.79 11.79 14.35 Zanzibar 13.00 13.00 15.00
Indo stems
Coriander Bulgarian 1.98 1.98 1.90 98% East European 1.05 1.30 1.89
Canadian
Cumin
Turkish 3.31 3.42 2.95 Turkish 98%
Syrian Syrian 99% 2.97 3.10 2.98
Indian Indian Indian 99%
Dill Indian 1.81 1.81 1.77 Indian 99%
Fennel Fancy Egyptian 2.60 2.54 2.55 Egyptian99%
Indian ASTA 2.43 2.32 2.30 Indian Indian 99%
Fenugreek Indian 99% 1.72 1.72 1.30 Indian 99% 1.38 1.41 1.75
Garlic
Ch. Powder 3.20 3.20 2.65 Flakes n/a n/a 2.00
Ch. Granulated 3.64 3.62 2.85 Powder 2.42 2.66 1.30
Granules 3.30 3.33 2.70
Ginger Cochin 5.73 5.73 5.29 Cochin Cochin
6 Market Insider
Spices
MARKET → USA JAPAN EUROPE
PRODUCT GRADE PRICE GRADE PRICE GRADE PRICE
This Week 2 Month ago
1 Year Ago
This Week
2 Month ago
1 Year Ago
This Week
2 Month ago 1 Year Ago
Chinese sliced Chinese sliced Chinese sliced 4.84 4.80 4.68
Chinese peeled 4.63 4.74 4.85 Chinese whole Chinese peeled 5.12 5.20 5.00
Nigerian 3.53 3.53 3.53 Nigerian 3.20 3.03 2.78
Mace Papua broken 25.90 25.90 32.00 Siauw whole 18.00 18.00 22.50 PNG Broken n/a n/a 18.20
Indonesian
Mustard
No 1 Yellow Canadian
1.74 1.74 1.57 Canada Yellow 0.79 0.79 1.26
Brown oriental 1.54 1.54 1.54 Canada Brown 1.08 0.83 1.21
Nutmeg
E.I. ABCDs 18.08 18.08 20.39 Indo 110's 14.00 15.50 19.50 Indonesian SS 11.75 n/a 16.50
E.I. cracked 16.00 WI 110's 10.00
EI ABCDs 12.25 12.71
Onion Egypt pow Powder 2.40 2.46 2.38
India pow Flakes 3.03
Paprika
Spanish 120 ASTA
4.63 4.63
Spanish visual Spanish 80 ASTA
Hungarian 7.17 7.17 6.83 Hungarian 100 ASTA
Peru ASTA 3.39 3.39 3.39 Peru HT90 ASTA
Pimento Mex/Guatemala 4.63 4.63 5.07 Mexican 5.25 5.25 5.00 Mexico 3.41 3.90 4.12
Jamaica 12.89 12.89 8.70 Jamaica Jamaica 10.84 n/a 7.98
Poppy Dutch Turkish
2.54
2.54
2.82 Dutch 2.37 2.25 3.03
Sesame Indian Natural
7 Market Insider
Spices
MARKET → USA JAPAN EUROPE
PRODUCT GRADE PRICE GRADE PRICE GRADE PRICE
This Week 2 Month ago
1 Year Ago
This Week
2 Month ago
1 Year Ago
This Week
2 Month ago 1 Year Ago
Indian hulled 2.32 2.32 3.26 Indian Hulled 1.89 2..01 2.90
Turmeric
Alleppey 5% curcumin
3.31 3.31 3.53 Madras fingers 2.20 2.20 1.80 Madras fingers
Alleppey fingers Powder 1.63 1.70
Vanilla!
Bourbon 70-100 70-100 53 Extract/ Gourmet 70-100 70-100 45.0/ 55.0 1 Vanilla – 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.
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Prices in the market place Herbs
All prices are quoted in US $/Kg
USA EUROPE
PRODUCT GRADE PRICE GRADE PRICE
This Week
2 Month Ago
1Year Ago
This Week
2 Month Ago
1Year Ago
Basil
Egyptian FAQ 2.65 2.65 Egypt 3.41 3.33
Egyptian Extra Fancy Egypt fines
Bay leaves
Turkish Fancy FAQ HPS
6.77 10.84
5.42 11.13
Turkish semi select 3.73 3.73 Turkish semi-select
Chervil German 8.20 8.42
Dill weed
Egyptian 4.08 4.08 Cut 8.64 8.20
Californian
Marjoram Egypt Fancy 3.53 3.53 Egypt 4.13 4.24
Mint
Spearmint 4.12 4.12 Egyptian 3.74 3.95
Oregano Turkish 30# 3.31 3.31 Turkish 3.91 4.01
Parsley
Israeli 7.00 7.00 European 2mm
5.45 5.60
USA 8.16 8.16
Rosemary Morocco 2.09 2.09 Morocco
Spanish Spanish 2.26 2.32
Saffron Spanish 2,315 2,315 Iranian 2,500 2,500
Sage Albanian 4.08 4.08 Turkish 5.12 5.25
Savoury Albanian 3.30 3.30 German 4.18 4.29
Tarragon Spanish 24.14 French 19.53 20.06
Thyme Spanish 4.08 4.08 Spanish 3.14 3.22
Moroccan Moroccan
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Statistical information and related resources All statistics sourced UN COMTRADE (http://comtrade.un.org/ )
Destination of spice exports from Indonesia
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Events Event Start Date End Date Country City URL
Natural Products Scandinavia 01/11/2015 2/11/2015 Sweden Malmö http://www.naturalproductsscandinavia.com/
Vanilla 2015 03/11/2015 05/11/2015 USA Jamesburg, NJ http://www.vanilla2015.com/
Food & Hotel China 11/11/2015 13/11/2015 China Shanghai http://www.fhcchina.com/en/index.asp
43rd
Session & other meetings of the IPC
22/11/2015 25/11/2015 India Mysore http://www.ipcnet.org/session43india/index.php?p=register
Food Ingredients Europe 01/12/2015 03/12/2015 France Paris http://www.figlobal.com/fieurope
SIAL Middle East 07/12/2015 09/12/2015 UAE Abu Dhabi http://www.sialme.com/
BioFach 10/02/2016 12/02/2016 Germany Nuremberg http://www.biofach.de/
Gulfood 2016 21/02/2015 25/02/2015 UAE Dubai http://www.gulfood.com/
World Spice Congress 27/02/2015 29/02/2015 India Ahmedabad http://www.worldspicecongress.com/
Ingredients Russia 01/03/2016 04/03/2016 Russia Moscow http://www.ingred.ru/
ASTA Annual Meeting 10/04/2016 13/04/2013 USA Scottsdale http://www.astaspice.org/
Natural & Organic Products Europe 17/04/2016 18/04/2016 England London http://www.naturalproducts.co.uk/
Alimentaria Barcelona 25/04/2016 28/04/2016 Spain Barcelona http://www.feriasalimentarias.com/main/oblea.asp?id_feria=78
Food Ingredients Vietnam 18/05/2016 20/05/2016 Vietnam Saigon http://www.figlobal.com/vietnam/home
Afro Food Exhibition 26/05/2016 29/05/2016 Egypt Cairo http://afrofood.net/industry/
