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SPICES MARKET INSIDER

Market News Service

Spices

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INDEX

SPICES NEWS AND UPDATES ........................................................................................................ 3 MARKET DYNAMICS ....................................................................................................................... 18 PRICES IN THE MARKET PLACE ................................................................................................... 20

Spices ............................................................................................................................................20 PRICES IN THE MARKET PLACE ................................................................................................... 24

Herbs .............................................................................................................................................24 STATISTICAL INFORMATION AND RELATED RESOURCES ...................................................... 25 EVENTS ............................................................................................................................................ 31

3

Spices News and Updates A round-up of news items in August 2016

Indian spice news

Olam Spices & Vegetable Ingredients issued a new market report at the end of July.

Chili – Olam report a weakening of local prices over late July as increased arrivals put

pressure on the market. Large cold store stocks will buffer the market from any major

moves but plantings in the traditional growing areas of southern India are all likely to be

higher this year. Madhya Pradesh acreage however, is expected to be 50% lower than last

year. As usual, the progress of the monsoon, the availability of water and the impact of

pest and disease will be the principal drivers in the market.

Turmeric – Loma’s report noted that late July prices moved higher under weak arrivals.

The report expects that demand will pick up as India moves into the festival season, and,

with low carry over, the market is predicted to be firm for the time being. Further ahead,

better sowing estimates and favourable climate will likely limit the upside.

Cumin – according to the Olam report a bullish trend emerged in early June and cumin

prices have hit new highs. Further support to prices has come from export demand, with

uncertainty in Syria a factor here. Stocks are a concern too with new arrivals not expected

before Feb-March next year.

Coriander – some extension to price gains over recent weeks under steady domestic

demand and some stocking activity are reported by Olam. But further ahead imports will

limit the upward movement while any downside will be picked up by the stockists and the

local grinders.

4

Black pepper – Olam noted that local supply was tight during July with limited arrivals,

low imports and recovering demand. Looking further ahead, the growing areas of Kerala

and Karnataka have had good rainfall and with good berry formation and no damage

reported yet the outlook is good.

Source: Olam SVI Spices Market Report July 22nd, 2016

Irish seasoning specialist Redbrook acquired by

Frutarom

Frutarom Industries Ltd., one of the world's 10 largest companies in the field of flavours

and specialty fine ingredients, continues its momentum of acquisitions and the

implementation of its rapid and profitable growth strategy: The Company announced today

the signing of an agreement for the purchase of 100% of the shares of the Irish

company Redbrook Ingredients Services Limited in exchange for approximately USD 44.8

million (€ 40 million). The purchase agreement includes a mechanism for an additional

consideration based on Redbrook’s future business performance. The transaction was

financed through bank debt.

Redbrook was founded in 1987 and has an R&D and sales and marketing centre and an

efficient production site near Dublin, Ireland as well as a production unit and R&D and

sales and marketing centre in Daventry, England, near Frutarom’s site at

Wellingborough, England. Redbrook has 39 employees. Redbrook’s main activity is the

development, production and marketing of innovative specialty savoury taste solutions,

which includes seasoning and functional blends, marinades, glazes, cures and specialty

ingredients for food processors. Redbrook sales for the 12 month period ending June 2016,

5

according to current exchange rates, amounted to approximately USD 25.4 million (approx.

€ 22.7 million). In the last three years Redbrook has exhibited double digit growth.

The global market for savoury flavours is growing due to the rise in standard of living and

changes in lifestyle and consumer habits bringing about increased demand for processed

and convenience foods both for home consumption and for eating out. Frutarom considers

the field of savoury flavours an important growth engine for itself and about 10 years ago

embarked on a strategic course of action to significantly build up its global savoury activity

by acquiring leading companies in their fields possessing unique solutions and a strong

position in strategic target markets. Among the companies and activities acquired: Nesse,

Gewürzmüller and the savoury activity of Chr. Hansen in Germany (in 2006, 2007 and

2009 respectively); EAFI in the UK, the savoury activities of Rieber in Norway, US-based

FSI and the savoury activities of Chr. Hansen in Italy in 2011; Savoury Flavours in

the UK and ETOL in 2012; Jann De Ree in South Africa and PTI in Russia in 2013;

FoodBlenders in the UK and BSA of Canada, with activity also in India, in 2015; and

AMCO in Poland and Wiberg of Austria in 2016.

Frutarom sees great strategic importance for this field, in which it now holds a leading

market position, and focuses on developing unique innovative natural and healthy products

with high added value at its sites throughout the world. Redbrook’s activity is largely

synergetic with Frutarom's global savoury activity and will enable Frutarom to continue

expanding and deepening its activity and market share in the UK and Ireland, and reinforce

its supply of savoury products while leveraging Redbrook’s specialized knowhow and

technology. Frutarom intends to make the most of its global sales and marketing

infrastructure in leveraging and realizing the many opportunities generated by this

acquisition by expanding the customer base and product portfolio.

6

The CEO of Redbrook, Mr. Kieran Fox, who has many years of experience and has headed

the company’s growth in recent years, will continue in his role and will join Frutarom’s

Flavours activity management.

Source: Frutarom Press Release

Request for Turmeric Research Station

The Hindu reports that farmers in Erode seek the rejuvenation of the local economy

through establishment of a Turmeric Research Centre in the district.

Turmeric is one of the major crops cultivated in over 6,000 hectares in the district, and an

exclusive research centre by Indian Council of Agricultural Research (ICAR) will well

befit description of Erode as ‘Turmeric Capital’ of India, farmers say.

As much as 25 per cent of turmeric produced in the country is auctioned at four centres in

the district: At Karumandisellipalayam run by Perundurai Regulated Market, at

Semmampalayam market run by Turmeric Traders-cum-Godown Owners’ Association

under supervision of Erode Regulated Market Committee, at Karunkalpalayam run by

Erode Agricultural Producers Cooperative Marketing Society, and at Manikoondu run by

Gobi Agricultural Producers' Cooperative Marketing Society.

Both producers and traders have been emphasising on a strong support system for sorting,

grading and value addition for export of turmeric. So far, progressive farmers have been

taking the help of Central Food Technological Research Institute, Mysuru.

The institute had, during 2014, developed a cost and time-saving technology for processing

turmeric. Tamil Nadu Agricultural University’s Bhavani Sagar Research Station has also

7

been focussing on turmeric among other crops. Research on rapid multiplication technique

in turmeric at Bhavani Sagar Station is one of the thrust areas.

The research station had released two varieties: Turmeric BSR 1, during 1986 with

curcumin content of 4.2% and Turmeric BSR 2 during 1994 with resistance to scale insects

and curcumin content of 4.6 per cent.

Nevertheless, an exclusive research station of ICAR for turmeric in Erode district is a

necessity for infusion of higher technology and utilisation of better seed varieties for better

productivity and quality.

The crop requires expert handling in stages after harvest: boiling, curing, drying, polishing,

colouring, grading and storage.

Growers only separate fingers from the bulbs and do not grade the produce. Importing

countries insist on botanical identity, appearance, maturity, hardness, weight, length and

thickness, shade and intensity of internal colour, pungency and bitterness, odour and

flavour and other considerations.

There are several parameters to be followed before exporting. A research station will be the

solution to provide farmers with the expertise to soft and grade the products, Logusamy,

organising secretary of Tamizhaga Vivasayigal Sangam said.

The ICAR, sources said, is contemplating establishing a Turmeric Research Station at

Kodumudi in a joint venture with Tamil Nadu Agricultural University.

Source: The Hindu 6th August 2016

8

US recall of turmeric products expanded

According to a press release from the US Food and Drug Administration (FDA), the

Miami-based Oriental Packing Co, Inc. is recalling approximately 377,000 lbs (about 171

tonnes). of a number of blended seasoning curry products because of contamination with

lead. Lead can accumulate in the body over time and can cause serious and sometimes

permanent adverse health consequences. These products, including the Blue Mountain

brand, the Jamaica Choice brand, the Ocho Rios brand, the Oriental brand and the Grace

brand are distributed in New York and Florida and sold through the internet and retail

stores across the USA.

The recall was the result of a routine sampling program by the New York State Health

Department, which revealed that the finished products contained lead. Oriental Packing

Co., Inc. has ceased the production and distribution of the product as FDA and the

company continues their investigation as to what caused the problem.

This follows and earlier (August 5th) recall of ground turmeric products by JM Exotic

Foods of Georgia and Gel Spices, Inc. of New Jersey following discovery of elevated

levels of lead in samples.

No illnesses have been reported to date.

Consumers are urged to dispose unused product following EPA

The US FDA issued an import alert in June 2016 developed for specific firms exporting

from Bangladesh and India that have offered turmeric with levels of lead that ‘…..may

render the product injurious to health for import into the United States…’ The alert allows

9

for the detention of turmeric from specific firms without physical examination due to lead

contamination.

Out-grower initiative for sesame in northern Nigeria

Olam Nigeria Limited, a subsidiary of Olam International, has floated sesame out -grower

initiative that will empower over 1000 sesame farmers across four northern states of the

country.

The out-grower scheme ‘Olam`s Model Farm Village’ is being implemented in Jigawa,

Bauchi, Nassarawa, and Benue states. Inaugurating the scheme in Garki Local Government

Area of Jigawa State, Regional Manager of the company, Mr. Dip Sinha said the scheme

was being implemented under the company`s ‘Sustainable Villages Program’ conceived to

assist farmers in the identified states.

Sinha explained further that the initiative was an integral part of Olam Livelihood Charter

(OLC) which had widely improved the lives of farmers across the globe.

10

Symrise Launches Vanilla Website

“Our vanilla site explores and describes our unique sustainable sourcing model in

Madagascar, as well as introducing the people who hold the keys to unlocking vanilla’s

magic and creating delicious tasting solutions for our customers. Our new website

hopefully contains everything you’ve ever wanted to know about natural vanilla and

Symrise”, says Reinhard Muehe, project leader in the creation of vanilla.symrise.com “We

invite everyone to dive into the three pillars of our vanilla site: “a sustainable source”,

“creativity & innovation” and “a global favorite”.

Your journey of exploration starts in Madagascar right at the sustainable source of vanilla,

a precious place where 80% of the world’s vanilla crop is grown: in the SAVA region of

the island, Symrise works with almost 7,000 farmers. By sourcing vanilla directly from the

famers, the company is creating a truly sustainable, fully integrated supply chain. It also

works closely with the farmers to help improve the cultivation process and enhance their

livelihoods.

Visitors to the website also learn that as well as sourcing its beans directly from farmers

who grow vanilla, Symrise also established a fermentation and extraction plant in the heart

of Madagascar. This means, it can produce tailor-made quality for its customers and

consumers. Furthermore, this ensures that the work, from sourcing the beans to extracting

their wonderful flavor, benefits the communities the company works with.

Short videos introduce the people at Symrise who work with this most precious spice. They

create and innovate and work with the vanilla flavors and scents used in products loved by

consumers everywhere. Creating extracts from the beans and knowing how to transform

these into leading products takes skill, passion and knowledge. From precise science to the

11

art of analyzing consumer preferences, Symrise relies on the best scent and flavor experts

to help create a global favorite – for almost 150 years.

“To celebrate everything about vanilla, the ‘queen of spices’, and everything we at Symrise

do to create vanilla products loved worldwide, we’ve created vanilla.symrise.com”,

summarizes Reinhard Muehe.

Learn more on https://vanilla.symrise.com/

Encouraging nutmeg in India

The Times of India reports that to help farmers increase the quantity of their produce and

market it efficiently with profit, farmer producer companies are being initiated. Two farmer

producer companies have registered in Ernakulam (Kerala State) with the registrar of

companies under the ministry of corporate affairs (MCA).The companies with 50 farmers

each, will soon start functioning at Kothamangalam and Ernakulam.

Periyar Valley Farmer Producer Company (PVFPVC) has members cultivating nutmeg and

other spices grown in the high ranges while the second company is Pokkali Farmer

Producer Company which will have farmers cultivating pokkali (a salt tolerant rice variety)

and organic rice.

Anybody, who is a farmer, can become a member of the company but he/she will not be

allowed to sell the shares to another and despite the number of shares will have one vote

only.

An initiative of the central government agricultural research and knowledge extension

scheme (KVK)the initial grants for starting the companies will be funded by the National

12

Bank for Agricultural and Rural Development (NABARD ). "We have received a grant of

Rs 9 lakh for this initiative. KVK will guide the companies for three years after which they

have to function on their own," said Shinoj Subramanian, project coordinator. He said that

there would be a ten-member director board and KVK would appoint a CEO.

Joseph T K, a farmer member of PVFPVC said that the company would help the farmers in

producing additional products, export and also marketing and branding of the nutmegs.

"They have medicinal value, used in food and also as a digestive."

He said that as of now, nutmegs were being brought by traders in Kalady and Erattupetta.

"If the nutmeg is not picked afresh just when it falls, it catches fungus. Then it cannot be

used for medicine. So a good amount of nutmegs get lost in this process leading to huge

losses. We hope to address these issues as a cluster. Professional advice can be sought and

if any solutions are needed, expenses can be shared," he said.

Source: http://timesofindia.indiatimes.com/

Olam promoting ginger production in Nigeria

Olam Nigeria has put in place collaborative plans with farmers in Kaduna State that will

lead to the increase in the value of ginger crop produced in the state. The company

disclosed that it is working in collaboration with National Root Crops Research Institute

(NRCRI) and the Kaduna Agricultural Development Project (KADP) in the execution of

the plans.

As part of the execution of the plans, the company has concluded a day skills and

knowledge transfer programme for about 500 ginger farmers in Jaba Local Government

Area of Kaduna state.

13

In his address at a training workshop for ginger farmers, Dip Sinha, regional manager of

the company, stated that the plan was conceived as an avenue to empower the farmers to

produce world-class ginger. According to him, the programme is also geared at providing

a platform for dissemination of knowledge and resolving all queries regarding fertilizer,

and herbicide application, in addition to equipping the farmers with the best harvest, and

post-harvest handling practices.

“Ginger is an integral part of Olam`s spices and vegetable ingredient development initiative

floated to deal directly with farmers and local, as well as global market.

“The primarily objective of the initiative is to stimulate a quality control and testing

procedure window that will ensure sustainable crop production, handling and storage

practices from the farm gate here in Nigeria to the doorstep of our customers worldwide.

“Over 500 ginger farmers drawn from Katchia, Jaba, and Jama local government Areas are

participating in the training,” he added.

Sinha pointed out that the initiative would boost farmers’ income by providing constant and

reliable channels for productivity and support to local economy. Commenting further on

the training, the regional manager revealed that the programme was executed in

collaboration with NRCRI, KADP, and National Ginger Farmers` Association.

Addressing at the occasion also, James Dutse, who represented the Kaduna state

8ommissioner for agriculture, described ginger farming as an activity that is the lifeblood

of the people in the southern part of the state. Dutse noted that the move by Olam to impact

knowledge and skills that ensure value addition to commodity was a welcome

development.

14

Ben Kure, chairman, National Ginger Farmers Association commended Olam for the

initiative, adding that the effort has succeeded in bringing ginger farmers together to

enhance the quality of the commodity.

One of the highlights of the training programme was an interface between the farmers and

Victor Dabel, station manager, NRCRI, in charge of Kaduna, on best practices in ginger

production.

The interest of the benefiting farmers in the initiative was demonstrated with the presence

of Danladi Gyet Maude, who represented the Emir of Jaba.

Source: http://agrinigeria.com/

Revival of nutmeg production in Aceh Indonesia

The revival of nutmeg farming has generated jobs and economic opportunity in the post-

conflict Indonesian province of Aceh and is still helping to consolidate peace in the region

as much as a decade after the end of the insurgency, says a new UNCTAD study,

Sustaining Peacebuilding and Post-Conflict Recovery Through BioTrade.

The study, which examines how locally sourced products can help build prosperity in post-

conflict zones, took the example of an UNCTAD/United Nations Development Programme

nutmeg project in Aceh Selatan, the southern district of the province. The 2010/2011

project, taking a community-based approach, helped bring more people into the post-

conflict economy through a revival of the nutmeg sector. It also established a Nutmeg

Cooperative that helped farmers to access markets and secure precious credit.

15

Indonesia has been well-known for its nutmeg production since the height of the spice trade

in the 17th and 18th centuries, but the sector struggled during a 30-year insurgency in Aceh

starting in the 1970s.

"People abandoned their farms for security reasons," one nutmeg farmer Abdurrahman is

quoted as saying. "When I returned … the nutmeg trees were destroyed by pests. I didn't

know what to do."

Abdurrahman turned to the Nutmeg Forum - shortened to Forpala in Indonesian - which

was founded in 2010 with help from UNCTAD and the UNDP, five years after a settlement

had been reached between Aceh separatists and central government. Aceh had also been

devastated by the 2004 South-East Asian tsunami.

"Forpala offered some training on nutmeg plant grafting and I was encouraged to learn the

techniques to protect my farm," Abdurrahman said.

The forum trains growers to improve production, strengthens ties between farmers,

producers and local government and promotes nutmeg products on national and

international markets with better branding and packaging.

Nutmeg trees yield not only the seeds which are ground into the familiar culinary spice but

also mace made from seed husks, essential oils and even nutmeg butter. Value-added

products include confectionary, syrups, cosmetics and industrial lubricants.

Aceh produced 280 tonnes of nutmeg oil in 2013, equal to 40% of world production,

according to Forpala.

16

"Since 2012, my business has steadily grown," Raini, one of the women who have

benefitted from the nutmeg revival, said. "I make about 300 pre-ordered packages [of

nutmeg cakes] a month… Nutmeg has become a part of my life."

Another entrepreneur, Yusnida, sells nutmeg confectionery all over Indonesia, a process

that helps build trust between communities and, ultimately, peace.

During the project, UNCTAD introduced concepts and methods from its BioTrade

Initiative, which helps developing countries to conserve biodiversity while improving

economic and social welfare. The initiative promotes the commercialization of goods and

services derived from native species and ecosystems while maintaining environmental,

social and economic sustainability.

It has been estimated that as much as two-thirds of global biodiversity hotspots and priority

conservation areas were affected by conflict between 1950 and 2000.

Meanwhile, markets for biodiversity friendly products are growing. For instance, the

natural cosmetics industry is estimated to be worth $26 billion, the natural beverages

industry $23 billion, and the botanicals industry $85 billion, according to the Secretariat of

the Convention on Biological Diversity.

BioTrade programmes are being implemented in countries with "low-level" internal

conflicts like Mozambique and Zambia.

UNCTAD has also helped with economic recovery after conflict in Colombia, promoting

BioTrade with projects on native cocoa and coffee, herbs and bee products such as wax,

honey and royal jelly.

17

"The sustainable use of biodiversity can be a major opportunity for conflict-affected

communities and ex-combatants to derive economically feasible and environmentally

friendly opportunities," says Lorena Jaramillo Castro, an economic affairs officer at

UNCTAD and author of the new report.

"They can sustainably use the biodiversity that surrounds them to make value-added

products and services, then trade these products for income," she added.

Raini said: "I thank Forpala and UNDP-UNCTAD as they have changed my life and that of

many others in this village for the better."

Source: http://unctad.org/

18

Market Dynamics Trade reports a general weakness in spice prices, with justification provided by supply side

availability, demand side the overall macro-economic and currency situation and a more immediate

quietening down for the Eid festivals. That is the fundamentals. Bucking the trend are garlic and

vanilla both in wild territory with much speculative support.

Pepper – Prices in the destination markets weakened with slack demand.

The 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

Chilies – reports from India suggest good arrivals of current crop coupled with a reasonable

outlook for new plantings.

Cloves, coriander, cumin, pimento, turmeric – Prices softening

Garlic – Now up even further with prices in the north America going beyond USD10/kg while still in

single digits in Europe buy heading north.

Ginger – No change.

19

Vanilla – Prices still at super high levels. The fundamentals do not seem to support these levels,

and there is now concern of the impact on long term demand if prices go higher and users start to

alter their recipes. The levels cannot be sustained but for how long? Whether prices hold up for

the whole season as new crop comes available in October or whether the nerve breaks and prices

come back down to earth as the crop comes to market is the big question. Scary times for those

long in the market.

20 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 8.60 11.50 11.50 Sarawak 8.90 9.50 10.80 Sarawak

Mal MG1 Mal MG-1 12.80 12.90 12.30 FAQ 550g/l 8.75 9.75 10.60

FAQ 500g/l 8.38 10.50 10.69 Lampung FAQ 500g/l 8.45 8.80 10.00

Steam treated 550g/l

Brazil

White Pepper

Muntok FAQ spot 13.75 15.65 Muntok 12.10 14.30 16.50 Muntok FAQ spot 12.40 13.50 14.80

Sarawak 13.00 14.50 17.00 Steam treated Muntok spot

Vietnam 12.13 Vietnam 11.90 12.45 14.80

Aniseed Spanish 4.37

Vietnam Star

Turkish/Syrian 4.37 4.63 Syrian /Spanish 3.08 3.27 3.33

Caraway Canadian 3.64 3.20 FAQ

Dutch 2.87 European 2.74 3.33 2.88

Cardamom Bold 15.32 15.00 15.98 India AGS1 MYQ 4.72 5.20

Seed 9.37 8.0 9.37 India AGS Bold 12.04 10.16

21 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

Cassia

Korintji B 3.00 ML/SVO

2.51 n/a 2.03 China whole 3.70 3.70 3.70 Korintji B Br & Cl 2.22 2.37 1.92

Vera C/W AA 4.96 n/a 4.08 China broken 3.50 3.50 3.50 Vera AA 3.90 n/a

Vietnamese 5ML/SVO

Vietnam QNV 3.80 3.80 3.80

Celery Indian spot 2.07 2.34 2.03 Indian Indian 99% n/q n/q

Chili Indian S4 3.86 3.04 Indian Sanna S4 grade

Malawi 3.97 n/a 3.97 Chinese African Bird’s Eye 11.25 11.25 10.00

Cinnamon Ceylon c5 14.44 n/a 12.02 Sri Lanka C5 SP Sri Lanka c5 cut n/q n/q

Cloves

Sri Lanka hand picked

19.29 19.29 Madagascar 9.00 10.00 10.50 Comores / Madagascar

9.13 9.32 9.83

Comores/ Mada 10.25 11.79 11.79 Zanzibar 13.00

Indo stems

Coriander Bulgarian 1.32 1.00 1.98 98% East European 0.87 0.94 1.30

Canadian

Cumin

Turkish 3.05 3.42 Iranian 99%

Syrian Syrian 99% 3.10

Indian 3.64 Indian Indian 99% 3.19 3.05

Dill Indian 2.87 1.98 1.81 Indian 99% n/q n/q

Fennel Fancy Egyptian 2.60 2.54 2.54 Egyptian99%

Indian ASTA 2.09 2.09 2.32 Indian Indian 99% 1.85 1.83

Fenugreek Indian 99% 1.65 1.54 1.72 Indian 99% 0.95 0.94 1.41

22 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

Garlic

Ch. Powder 8.60 4.71 3.20 Flakes 9.52 4.50 n/a

Ch. Granulated 10.47 5.64 3.62 Powder 7.00 4.38 2.66

Granules 8.40 5.97 3.33

Ginger

Cochin 5.29 n/a 5.73 Cochin Cochin n/q n/q

Chinese sliced 3.40 Chinese sliced Chinese sliced 2.90 3.27 4.80

Chinese peeled 3.57 4.00 4.74 Chinese whole Chinese peeled 3.30 3.89 5.20

Nigerian 3.64 3.00 3.53 Nigerian 2.80 2.80 3.03

Mace Papua broken 25.90 15.50 25.90 Siauw whole 19.50 19.50 18.00 PNG Broken 14.00 n/a n/a

W Indian 12.50 12.50

Mustard

No 1 Yellow Canadian

1.74 1.80 1.74 Ukraine Yellow 0.78 0.78 0.79

Brown oriental 1.54 1.60 1.54 Ukraine Brown 0.84 0.83 0.83

Nutmeg

E.I. ABCDs 15.98 13.50 18.08 Indo 110's 17.00 17.00 15.50 Indonesian SS 11.14 12.38 n/a

E.I. SS 14.11 13.20 WI 110's 10.00

EI ABCDs 12.04 12.50 12.71

Onion Egypt pow Powder 1.62 1.70 2.46

India pow Flakes 1.79 1.78

Paprika

Spanish 120 ASTA

3.51 4.37 4.63 Chinese 100ASTA 1.74 1.83

Spanish visual Spanish 80 ASTA n/q n/q

Hungarian 7.17 7.05 7.17 Hungarian 100 ASTA

n/q n/q

Peru ASTA 2.87 4.30 3.39 Peru HT90 ASTA n/q n/q

23 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

Pimento Mex/Guatemala 4.63 4.00 4.63 Mexican 4.50 5.00 5.25 Mexico 3.25 3.00 3.90

Jamaica 12.90 10.00 12.89 Jamaica Jamaica 8.50 8.80 n/a

Poppy Turkish 1.85 2.90

2.54 Dutch 1.85 2.16 2.25

Sesame

Indian Natural 1.65 1.60 Indian natural 1.57 1.50

Indian hulled 1.90 1.80 2.32 Indian Hulled 1.74 1.67 2.01

Turmeric

Alleppey 5% curcumin

3.42 n/a 3.31 Madras fingers 2.80 2.80 2.20 Madras fingers n/q n/q

Powder 2.09 2.00 Alleppey fingers Powder 1.78 2.00 1.70

Vanilla!

Bourbon 400-500? 200-360 70-100 Extract/ Gourmet 400-500? 200-360 70-100 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.

24

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 2.60 2.70 2.65 Egypt 3.54 3.27 3.33

Egyptian Extra Fancy Egypt fines

Bay leaves

Turkish Fancy/HPS 7.50 FAQ HPS

5.76 11.52

6.83 10.66

5.42 11.13

Turkish semi select 4.30 4.00 3.73 Turkish

semi-select

Chervil 8.50 German 9.30 8.38 8.42

Dill weed

Egyptian 4.08 4.96 4.08 German 9.42 8.71 8.20

Californian

Marjoram Egypt Fancy 2.75 3.55 3.53 Egypt 3.96 3.66 4.24

Mint

Spearmint 5.07 4.30 4.12 Egyptian 4.08 3.66 3.95

Oregano Turkish30#

FAQ 4.85 2.65

4.30 3.31 Turkish 4.86 3.94 4.01

Parsley

Israeli 6.72 5.50 7.00 European

2mm 5.94 5.49 5.60

USA 8.16 n/a 8.16

Rosemary Morocco 2.09 2.30 2.09 Morocco

Spanish Spanish 2.52 2.16 2.32

Saffron Spanish 2,315 Iranian 3,250 3,250 2,500

Sage Albanian 4.08 4.10 4.08 Turkish 6.36 5.88 5.25

Savoury Albanian 4.17 3.28 3.30 German 4.32 4.00 4.29

Tarragon Spanish 24.14 31.86 4.08 French 21.42 19.70 20.06

Thyme

Spanish 3.64 4.00 4.08 Spanish 3.22

Moroccan

Moroccan 3.42 3.16

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Statistical information and related resources Source: COMTRADE http://comtrade.un.org/

South Africa foreign trade in spices – origin of imports and destination of exports

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South Africa foreign trade in spices – origin of imports and destination of exports

South Africa foreign trade in spices – origin of imports and destination of exports

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South Africa foreign trade in spices – origin of imports and destination of exports

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South Africa foreign trade in spices – origin of imports and destination of exports

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South Africa foreign trade in spices – origin of imports and destination of exports

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Events

Event Start Date End Date Country City URL

Food Ingredients India 22/08/2016 24/08/2016 India New Delhi http://www.figlobal.com/india/home/

44th Annual Meetings of the International Pepper Community

08/08/2016 11/08/2016 Indonesia Jakarta http://www.ipcnet.org/session44/index.php

Food Ingredients South America 23/08/2016 25/08/2016 Brazil Sao Paulo http://www.figlobal.com/southamerica

Speciality & Fine Food Fair 04/09/2016 06/092016 UK London http://www.specialityandfinefoodfairs.co.uk/

Food Ingredients Asia 21/09/2016 23/09/2016 Indonesia Jakarta http://www.figlobal.com/asia-indonesia/

SIAL 16/10/2016 20/10/2016 France Paris https://www.sialparis.com/

International Spice Conference 12/02/2017 14/02/2017 India Kovalam http://www.internationalspiceconference.com/

IFE 19/03/2017 22/03/2017 UK London http://www.ife.co.uk/

ASTA Annual Meeting 23/04/2017 26/04/2017 USA Austin TX http://www.astaspice.org/

32 Market News Service

Spices