SPICES MARKET INSIDER. Market Insider
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1 SPICES MARKET INSIDER
2 Market News Service 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 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. information is available free of charge to trade support institutions, enterprises and research institutions in developing and developed countries. Please log on to: Copyright /ITC All rights reserved 1
3 INDEX SPICES NEWS AND UPDATES... 1 MARKET DYNAMICS... 1 PRICES IN THE MARKET PLACE PRICES IN THE MARKET PLACE... 8 Herbs... 8 STATISTICAL INFORMATION AND RELATED RESOURCES... 9 EVENTS
4 News and Updates Symrise opens vanilla processing site in Madagascar In a press release, Symrise announced the opening, on October 13, 2014, of an extraction facility for vanilla in Madagascar. The investment at the Benavony site amounted to approximately 3 million. With the plant, every step in the processing of vanilla can now be performed locally on the East African island for the first time. Symrise is one of the most important suppliers of vanilla flavors in the world. The company has been active in Madagascar, where 80 % of the world s vanilla is grown, since Dr. Heinz- Jürgen Bertram, CEO of Symrise, explained in his speech at the opening of the plant in Benavony: This site is a further milestone in Symrise s strategy of establishing the entire value chain for vanilla in its source country and in accordance with strict sustainability criteria. The 3,500 m 2 facility offers production space for extraction, analysis, quality control and the proper storage of vanilla extracts. The site, which has been completely newly constructed, has a total of 36 ha of space. In the medium term, Symrise plans to process additional important raw materials here such as vetiver, an important and popular fragrance for producing perfumes. All steps in processing, from fermentation up through extraction of vanilla, now take place in Madagascar. Dr. Bertram explained: With this new plant, we are completing the cycle of responsible vanilla production on site. Our vanilla activities in Madagascar are the best evidence that business success and sustainability go hand in hand. Our investment of roughly 3 million euros is a clear statement that we are directly committed long-term to the country, its people and vanilla farming. Symrise works directly with vanilla farmers in northeastern Madagascar in order to ensure the sourcing of natural vanilla as well as guarantee its high quality and seamless traceability. In addition, Symrise reinvests 10 % of its yields from vanilla operations into Madagascar in the form of education and training, reforestation and the sustainable cultivation of various agricultural raw materials on the island. In his speech, Dr. Heinz- Jürgen Bertram also recognized the efforts of the national and international partners Symrise cooperates with on the sustainable sourcing of vanilla. These include the German Society for International Cooperation and numerous NGOs. Symrise currently processes about 200 tons of vanilla locally each year, which represents roughly 10 % of the annual harvest in Madagascar. Symrise also opened a new fermentation and storage complex in the Madagascan city of Antalaha in February The role of spices and herbs in public health With its October edition the journal Nutrition Today has issued a supplement entitled and herbs: improving public health through flavorful eating. The supplement reports the findings of a science summit held by the McCormick Science Institute in May 2014, which brought together experts from academia, government, and the food industry to initiate a national conversation on the role of culinary spices and herbs in a healthy diet. The Science Summit and Herbs: Improving Public Health through Flavorful Eating A Call to Action was designed to promote the sharing of information on the health and wellness benefits of spices and herbs and to provide a forum for discussing ways this information can be 1
5 translated to consumers. Its overall goal was to develop an action plan for helping consumers improve their health by consuming healthier diets. After the formal presentations, summit participants divided into three action groups to evaluate the steps towards translating the science for consumers through direct communication via for example the media, product development and public policy. All three groups concluded that spices and herbs have the potential to improve public health through beneficial physiological effects and/or by making healthier foods more acceptable to consumers without adding meaningful amounts of calories, saturated fat, sodium, or other undesirable components. Many ideas were generated on how the science underlying this opportunity can be strengthened and translated to consumers through research, public/private partnerships, commercial products, and educational/communications initiatives. A total of 16 papers can be read for free at Pepper data from IPC AT the end of October the Ministry of Agriculture and Rural Development, Vietnam hosted the 42nd Annual Session of the International Pepper Community in Ho Chi Minh City. Some 400 delegates from 28 countries attended. A summary of production, import, export and consumption of pepper by producing countries in 2013 and 2014 are given below. Units: tonnes 2
6 Market Dynamics. Pepper Steady prices into October indicated continued demand in consuming markets for tight stocks at origin. At the end of the month prices drifted a little at most origins, while many in the tradewere to be found at the 42 nd Annual Meetings of the International Pepper Community. The International Pepper Community (IPC) reported domestic prices in producing countries as follows: Producer Prices in US$ / tonne* 3
7 Prices in the market place All prices are quoted in US$/Kg MARKET USA JAPAN EUROPE PRODUCT GRADE PRICE GRADE PRICE GRADE PRICE This Week 1 Year Ago This Week 1 Year Ago This Week Spot 550g/l Sarawak Sarawak 9.40 Mal MG Mal MG FAQ 550g/l Year Ago Black Pepper FAQ 500g/l Lampung FAQ 500g/l Steam 550g/l treated 8.80 Brazil Muntok FAQ spot Muntok Muntok FAQ spot White Pepper Aniseed Caraway Cardamom Steam treated Sarawak Muntok spot Vietnam Vietnam Whole China star 6.83 Vietnam Star 6.28 Turkish/Syrian Syrian 1% 4.45 Canadian FAQ Dutch European Fancy Green India AGS1 MYQ Mixed Green India AGS Whole, green
8 MARKET USA JAPAN EUROPE PRODUCT GRADE PRICE GRADE PRICE GRADE PRICE Cassia Korintji B 3.00 ML/SVO This Week 1 Year Ago This Week 1 Year Ago This Week China whole Korintji B Br & Cl 2.86 Vera C/W AA China broken Vera AA Year Ago Vietnamese 5ML/SVO Vietnam QNV Celery Chili Cinnamon Indian spot Indian Indian 99% 2.52 Indian S Indian Sanna S4 grade African fukien Chinese African Bird s Eye Ceylon H Sri Lanka C5 SP Sri Lanka c5 cut Cloves Sri Lanka hand picked Madagascar Comores / Madagascar Zanzibar Zanzibar Indo stems Coriander Cumin Bulgarian % East European Canadian Turkish Turkish 98% Syrian Syrian 99% Indian Indian Indian 99% Dill Indian Indian 99% 2.50 Fancy Egyptian 2.55 Egyptian99% 3.30 Fennel Indian ASTA Indian Indian 99% Fenugreek Turkey Indian 99%
9 MARKET USA JAPAN EUROPE PRODUCT GRADE PRICE GRADE PRICE GRADE PRICE Garlic Ginger This Week 1 Year Ago This Week 1 Year Ago This Week Ch. Powder Flakes Ch. Granulated Powder Cochin Cochin Cochin Granules Chinese sliced Chinese sliced Chinese sliced Chinese peeled Chinese whole Chinese peeled Nigerian Nigerian Year Ago Mace Siauw No 2 siftings Siauw whole PNG Broken Indonesian Mustard Nutmeg Onion No 1 Yellow Canadian Canada Yellow Brown oriental Canada Brown E.I. ABCDs Indo 110's Indonesian SS E.I. cracked WI 110's EI ABCDs Egypt pow Powder India pow Flakes Spanish 120 ASTA 5.18 Paprika Spanish visual Spanish 80 ASTA 3.30 Hungarian Hungarian 100 ASTA Peru ASTA Peru HT90 ASTA 6
10 MARKET USA JAPAN EUROPE PRODUCT GRADE PRICE GRADE PRICE GRADE PRICE Pimento Poppy Sesame This Week 1 Year Ago This Week 1 Year Ago This Week 1 Year Ago Mex/Guatemala Mexican Guatemala Jamaica Jamaica 7.00 Jamaica Dutch Turkish Indian Natural Dutch 3.03 Indian hulled 3.26 Indian Hulled 2.90 Turmeric Alleppey 5% curcumin Madras fingers Madras fingers 3.80 Alleppey fingers Vanilla! Bourbon Extract/ Gourmet 45.0/ 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. 7
11 Prices in the market place Herbs All prices are quoted in US $/Kg USA EUROPE PRODUCT GRADE PRICE GRADE PRICE This 1Year This 1Year Week Ago Ago Week Ago Ago Egyptian FAQ Egypt Basil Egyptian Extra Fancy Egypt fines Turkish Fancy FAQ Bay leaves Turkish semi select Turkish semi-select Chervil German Egyptian Cut Dill weed Californian Marjoram Egypt Fancy Egypt Mint Spearmint Egyptian Oregano Turkish 30# Turkish Parsley Israeli USA European 2mm Rosemary Saffron Sage Savoury Tarrn Thyme Morocco Morocco Spanish Spanish Spanish 2,315 Iranian 2,500 2,650 Albanian Turkish Albanian German French French Spanish Spanish Moroccan Moroccan
12 tonnes tonnes Statistical information and related resources Source: UN COMTRADE ( ) and IPC 5,000 Exports of pepper from Brazil 4,000 3,000 2,000 1,000 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Exports of pepper from India 6,000 5,000 4,000 3,000 2,000 1,000 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Market News Service 9
13 tonnes tonnes Exports of pepper from Indonesia 12,000 10,000 8,000 6,000 4,000 2,000 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Exports of pepper from Madagascar 5,000 4,000 3,000 2,000 1,000 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
14 tonnes tonnes Exports of pepper from Malaysia 2,000 1,000 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Exports of pepper from Sri Lanka 5,000 4,000 3,000 2,000 1,000 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Market News Service 11
15 tonnes Exports of pepper from Vietnam 30,000 25,000 20,000 15,000 10,000 5,000 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
16 Events Event Start Date End Date Country City URL World Food Kazakhstan 05/11/ /11/2014 Kazakhstan Astana IFEA 05/11/ /11/2014 South Africa Johannesbu rg Gulfood Manufacturing 09/11/ /11/2014 UAE Dubai com World of Food Beijing 26/11/ /11/2014 China Beijing m Fine Food India 03/12/ /12/2014 India New Delhi / Horecava 12/01/ /01/2015 Netherlands Amsterdam COSCO Convention on coconut, spices 27/01/ /01/2015 India Coimbatore and coir Gulfood 08/02/ /02/2015 UAE Dubai Prod Expo 09/02/ /02/2015 Russia Moscow Biofach 15/02/ /02/2015 Germany Nuremberg International Food & Drink Event 22/03/ /03/2015 UK London China International Food Exhibition 04/06/ /06/2015 China Guangzhou Food Ingredients Asia 09/09/ /09/2015 Thailand Bangkok com/asia-thailand/home IBA 12/09/ /09/2015 Germany Munich ANUGA 10/10/ /10/2015 Germany Cologne Food Ingredients Europe 01/12/ /12/2015 France Paris com/europe/home Market News Service 13
MARKET USA JAPAN EUROPE PRODUCT GRADE PRICE GRADE PRICE GRADE PRICE. 2 Month ago 1 Year Ago This Week
Prices in the market place - PLEASE REMEMBER THESE ARE ONLY PRICE INDICATIONS Grade = quality, grade, origin or other price related details. Spices Spot 550g/l Sarawak 11.00 9.50 7.50 Sarawak 10.00 9.40
More informationIndicative prices in the market place
Indicative prices in the market place All prices are quoted in US$/Kg Spot 550g/l 10.91 9.80 Sarawak 10.50 11.50 12.00 Sarawak Mal MG1 Mal MG-1 12.30 13.00 14.80 FAQ 550g/l 9.50 9.80 Black Pepper FAQ 500g/l
More informationAll prices are quoted in US$/Kg MARKET USA JAPAN EUROPE KUWAIT PRODUCT GRADE PRICE GRADE PRICE GRADE PRICE GRADE PRICE This Week.
12 th May 2014 Prices in the market place - PLEASE REMEMBER THESE ARE ONLY PRICE INDICATIONS Grade = quality, grade, origin or other price related details. Spices Spot 8.05 Sarawak 9.50 9.20 FAQ 500g/l
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