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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 http://www.marketinsider.org

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INDEX SPICES NEWS AND UPDATES ......................................................................................................... 3 MARKET DYNAMICS ......................................................................................................................... 5 PRICES IN THE MARKET PLACE ..................................................................................................... 6

Spices .............................................................................................................................................. 6 PRICES IN THE MARKET PLACE ...................................................................................................10

Herbs .............................................................................................................................................10 STATISTICAL INFORMATION AND RELATED RESOURCES ......................................................11 EVENTS .............................................................................................................................................18

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Spices News and Updates

Indian Spices Board to establish e-platform for cardamom trading

The Economic Times reports that the Spices Board of India will set up an electronic auction platform in Sikkim for trading organic large cardamom. A timescale of six months to establishment is mentioned. Sikkim produces about 90 percent of India’s total output of 4,500 tonnes of large cardamom. The Board Chairman A Jayathilak told the reporter that the objective is to secure better prices for the farmers. For now, farmers sell large cardamom on a physical auction platform established by the Board some five years ago. The e-platform will allow farmers to check prices online and make decisions without having to visit the auction. Source: http://economictimes.indiatimes.com/news/economy/agriculture/spices-board-to-set-up-e-platform-for-cardamom-sale-in-sikkim/articleshow/50635356.cms

Red chilli commands record price “The Hindu” newspaper reports that the premium ‘Teja’ variety of chilli is achieving record prices in the principle trading yards. A peak price of INR15.5/kg was recorded, which is the highest price in recent years, according to trade sources. Apparently, a fall in production in Madhya Pradesh has led to a shortfall in the market and caused the steep rise in prices. There is a suspicion that speculative activity is pushing price beyond the fundamental demand. Reports that the production in the State maybe down by 40percent this year is driving the activity in the market. Farmers have tried to salvage crops damaged by a failure of both monsoons last year but falling groundwater supplies have impeded their efforts. Source: http://www.thehindu.com

Vanilla researches in Ethiopia “The Ethiopian Herald” newspaper reports that Ethiopia currently conducts research on vanilla cultivation for local growers. The Tepi National Spices Research Center in Ethiopia has been engaged in adopting and developing spices technologies, conducting researches, multiplying and distributing improved species and lowland coffee technologies to similar agro-ecological zones of the country. Besides, it organizes training and consultancy services in the sector. The Center has released Yeki One variety of vanilla. In an interview with The Ethiopian Herald, Center Director and Spice Researcher Haimanot Mitiku said: “Vanilla is one of the most expensive spices in the world. Its global vaniline content standard is two percent. But ours is over 2. 25 percent. As it meets the international standard, you can produce widely and generate more hard currency. Currently, it has been widely multiplied at Bebeka Coffee farm." Haimanot further said “We can get about 200 kilograms of dry vanilla from one hectare of land. But, it takes three years for reaping. But once it starts providing yield; it continues to yield for 15 consecutive years."

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The Yeki One variety has already been adapted to the Ethiopian lowland agro-ecology meeting the international quality standard. Currently, besides, Yeki One, Ethiopia conducts researches on other two vanilla species. “We are working aggressively to access the spice to the farmers. We have started scaling up on selected Sheka and Bench Maji farmers fields. We hope that in the next few years the farmers will supply their product to the market.” Haimanot further said that vanilla was imported from Indonesia almost two decades back. However, due to weak pre-harvest management, agronomy, lack of trained manpower in the field has remained unregistered as spices in Ethiopia. However, the plant's pre- and post harvest management challenges have been solved with the concerted efforts of researchers. Source: The Ethiopian Herald http://www.ethpress.gov.et/herald

AFD grant to Madagascar agriculture sector

The AFD, the French Development Agency, is to grant assistance of MGA 24 billion (approx. USD7.5mn) to the agriculture sector in Madagascar this year. The grant comes as part of the agricultural productivity improvement project in Madagascar (PAPAM). The signing was conducted between AFD and the Ministry of Finance and Budget, in February. The services will be spread over four years, and the funds will be applied through the Agricultural Services Centre and the Regional Fund for Agricultural Development (CSA / FRDA) towards the construction of irrigation infrastructure. According to the Minister of Finance and Budget, Gervais Rakotoarimanana, the CSA / FRDA has provided assistance to 46,000 farmers over three years. He added that for the PAPAM project, 150,000 farmers can improve their incomes and strengthen their activities, integrating economic opportunities. In addition, the grant will help improve farm productivity, promoting the development of agro-ecological practices and highlighting watersheds. Potential agricultural regions to be impacted by the funding include Vakinankaratra, Alaotra -Mangoro the Vatovavy Fitovinany and Atsimo-Atsinanana regions. Crops to benefit included cloves, rice, coffee, and corn.

http://www.ethpress.gov.et/herald

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Market Dynamics A quiet month overall. A number of price changes in our tables, but most of the movement can be ascribed to variation in currency rates. Pepper – Local prices in Vietnam continue their decline in dollar terms and Vietnam is now the cheapest origin. The easing of producer prices supports the view that the Vietnamese crop will be greater than expected, but profits over recent years have strengthened the hands of the Vietnamese pepper farmers who can hold back stock if they so wish. 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

Ginger – Few arrivals in Europe lately. Chilies – Bird’s Eye stocks in Europe are depleted. The new crop is awaited with shipment in April/ May anticipated but there is no guidance on where prices will reopen the new season or what sort of quantities will be available. Will the high prices last year have impacted on planting for this year?

6 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 11.24 9.92 12.12 Sarawak 10.00 11.10 Sarawak

Mal MG1 Mal MG-1 11.40 12.00 12.00 FAQ 550g/l 8.50 9.10 9.70

FAQ 500g/l 10.98 9.70 11.02 Lampung FAQ 500g/l 8.20 8.55 9.50

Steam treated 550g/l

Brazil

White Pepper

Muntok FAQ spot 15.10 14.99 15.43 Muntok 16.50 16.50 15.00 Muntok FAQ spot 13.00 13.25 14.20

Sarawak 17.00 17.00 Steam treated Muntok spot

Vietnam Vietnam 12.90 13.25

Aniseed Whole China star

Vietnam Star

Turkish/Syrian 4.63 4.63 4.80 Syrian /Spanish 3.25 3.22 3.40

Caraway Canadian 4.08 3.75 2.50 FAQ

Dutch European 3.25 3.11 2.03

Cardamom Bold 17.53 15.32 15.99 India AGS1 MYQ 4.60 7.00 5.20

Seed 9.70 9.70 India AGS Bold 9.20 11.70

7 Market Insider

Spices




1 Year Ago

This Week

2 Month ago

1 Year Ago

This Week


Cassia

Korintji B 3.00 ML/SVO

2.01 2.01 2.90 China whole 3.70 3.70 3.70 Korintji B Br & Cl 2.20 1.72 2.85

Vera C/W AA 4.01 4.01 5.00 China broken 3.50 3.50 3.50 Vera AA 3.80 3.82

Vietnamese 5ML/SVO

Vietnam QNV 3.80 3.80 3.80

Celery Indian spot 2.54 2.43 1.95 Indian Indian 99%

1.95

Chili Indian S4 3.42 3.53 2.60 Indian Sanna S4 grade

Malawi 15.43 3.97 5.50 Chinese African Bird’s Eye n/q n/q 5.50

Cinnamon Ceylon H2 n/a 11.79 12.00 Sri Lanka C5 SP Sri Lanka c5 cut

Cloves

Sri Lanka hand picked

20.00 18.19 20.40 Madagascar 10.00 9.75 12.20 Comores / Madagascar

9.30 9.54 12.48

Comores/ Mada 11.79 11.79 14.50 Zanzibar n/a n/a 13.00

Indo stems

Coriander Bulgarian 1.72 1.65 1.85 98% East European 0.80 0.87 1.88

Canadian 2.09

Cumin

Turkish 3.28 3.26 2.80 Iranian 99% 2.70

Syrian 3.50 Syrian 99% 3.11

Indian Indian Indian 99%

Dill Indian 1.85 1.76 1.77 Indian 99%

Fennel Fancy Egyptian 2.54 2.60 2.55 Egyptian99%

Indian ASTA 3.20 2.43 2.30 Indian Indian 99%

Fenugreek Indian 99% 1.76 1.72 1.59 Indian 99% 1.21 1.42 0.62

8 Market Insider

Spices




1 Year Ago

This Week

2 Month ago

1 Year Ago

This Week


Garlic

Ch. Powder n/a 3.64 2.60 Flakes 4.70 n/a 2.00

Ch. Granulated n/a 3.86 2.80 Powder 3.03 2.99 1.30

Granules 4.24 3.76 2.70

Ginger

Cochin n/a 5.73 5.29 Cochin Cochin

Chinese sliced Chinese sliced Chinese sliced 4.00 4.70 4.60

Chinese peeled 4..08 4.12 4.96 Chinese whole Chinese peeled 4.00 4.50 5.00

Nigerian 3.35 3.42 3.00 Nigerian 3.10 2.53 2.70

Mace Papua broken 24.25 25.90 32.00 Siauw whole 19.00 19.00 22.50 PNG Broken 13.50 n/a 14.75

Indonesian

Mustard

No 1 Yellow Canadian

1.85 1.74 1.57 Ukraine Yellow 0.80

Brown oriental 1.76 1.54 1.55 Ukraine Brown 1.05

Nutmeg

E.I. ABCDs 17.53 15.98 20.39 Indo 110's 16.00 16.00 19.50 Indonesian SS 11.50 11.75 13.50

E.I. SS 14.00 14.11 WI 110's

EI ABCDs 12.20 12.75 13.75

Onion Egypt pow Powder 2.15 2.29 2.38

India pow Flakes n/a 3.03

Paprika

Spanish 120 ASTA

4.37 3.55

Spanish visual Spanish 80 ASTA 1.86

Hungarian 7.05 7.17 6.80 Hungarian 100 ASTA

Peru ASTA 4.30 3.39 3.40 Peru HT90 ASTA 1.86

9 Market Insider

Spices




1 Year Ago

This Week

2 Month ago

1 Year Ago

This Week


Pimento Mex/Guatemala 4.37 4.63 4.00 Mexican 5.00 5.00 5.25 Mexico 3.50 3.38 4.00

Jamaica 12.90 12.89 Jamaica Jamaica 11.00 10.74

Poppy Dutch Turkish

3.09

2.38

2.80

Dutch 2.37 2.34 3.03

Sesame

Indian Natural Indian natural 1.20 1.36

Indian hulled 1.87 1.89 2.58 Indian Hulled 2.25

Turmeric

Alleppey 5% curcumin

3.48 3.31 3.53 Madras fingers 2.80 2.80 1.90 Madras fingers

Powder n/a 2.32 Alleppey fingers Powder 1.85 1.91

Vanilla!

Bourbon 90-150 90-150 53.00 Extract/ Gourmet 90-150 90-150 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.

10 Market News Service

Spices

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 2.51 3.09 Egypt 3.40 3.38 3.25

Egyptian Extra Fancy 2.65 Egypt fines

Bay leaves

Turkish Fancy/HPS 7.61 FAQ HPS

6.77 10.56

6.43

Turkish semi select 4.08 4.29 3.86 Turkish semi-select

9.76 11.09

Chervil 13.12 German 8.20 8.12 8.79

Dill weed

Egyptian 4.96 4.08 4.07 Cut 8.64 8.56 2.60

Californian

Marjoram Egypt Fancy 3.53 3.53 3.86 Egypt 4.13 4.09 4.66

Mint

Spearmint 4.30 4.12 6.50 Egyptian 3.63 3.71 4.13

Oregano Turkish30# FAQ

4.30 2.64 3.31 Turkish 3.91 3.76 4.54

Parsley

Israeli n/a 7.01 7.00 European 2mm

5.45 5.40 6.02

USA n/a 8.16 8.16

Rosemary Morocco 2.31 2.09 2.09 Morocco

Spanish Spanish 2.15 2.07 2.30

Saffron Spanish 2,535 2,315 Iranian 3,073 2,965 2,300

Sage Albanian 4.08 4.08 4.30 Turkish 5.23 5.18 5.49

Savoury Albanian 3.26 3.30 3.30 German 5.23 4.14 4.07

Tarragon Spanish 31.86 24.14 27.56 French 19.53 19.35 20.95

Thyme Spanish 4.08 4.08 4.08 Spanish 3.14 2.94 3.36

Moroccan 3.85 Moroccan


Spices

Statistical information and related resources

Source: USDA/FAS

Imports of spices to the USA


Spices


Spices

Events Event Start Date End Date Country City URL

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/

International Symposium on Advances in Lamiaceae Science

22/04/2016 25/04/2016 Turkey Antalya http://www.lamiaceae2016.org/

Alimentaria Barcelona 25/04/2016 28/04/2016 Spain Barcelona http://www.feriasalimentarias.com/main/oblea.asp?id_feria=78

SIAL China 05/05/2016 07/05/2016 China Shanghai http://www.sialchina.com/

Food Ingredients Vietnam 18/05/2016 20/05/2016 Vietnam Saigon http://www.figlobal.com/vietnam/home

Int'l Food Ingredients & Additives Exhibition and Conference

18/05/2016 20/05/2016 Japan Tokyo http://www.ifiajapan.com/2016/jp/index.html

Afro Food Exhibition 26/05/2016 29/05/2016 Egypt Cairo http://afrofood.net/industry/

Free From Food Expo 09/06/2013 10/06/2016 Netherlands Amsterdam http://www.freefromfoodexpo.com/

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

http://www.figlobal.com/vietnam/home

http://www.ifiajapan.com/2016/jp/index.html

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