SPICES MARKET INSIDER. Market Insider

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Job Harmon
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1 SPICES MARKET INSIDER

2 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 214. All rights reserved

3 INDEX SPICES NEWS AND UPDATES... 1 MARKET DYNAMICS... 3 PRICES IN THE MARKET PLACE PRICES IN THE MARKET PLACE... 7 Herbs... 7 STATISTICAL INFORMATION AND RELATED RESOURCES... 8 EVENTS... 16

4 News and Updates Capsaicin may inhibit tumours in the intestines Researchers at the University of California, San Diego School of Medicine report that capsaicin, the active ingredient in chili peppers, produces a chronic activation of receptors on cells lining the intestine of mice. This triggers a reaction that reduces the risk of colorectal tumours. The receptors, analogous to those in the sensory system that are irritated and overwhelmed by capsaicin in topical analgesic ointments, if stimulated can reduce the output of a growth factor implicated in tumour developments in mice. The researchers fed capsaicin to mice genetically-prone to developing multiple tumours in the gastrointestinal tract. The treatment resulted in a reduced tumour burden and extended the lifespans of the mice by more than 3 percent. As yet, there is no evidence that the inactivity of the receptor is a risk factor for colorectal cancer in humans, but the principle has been established and future clinical studies will investigate further. Symrise completes Diana group acquisition Symrise AG, the global supplier of fragrances, flavorings, cosmetic active ingredients and raw materials headquartered in Germany, successfully completed the acquisition of French Diana Group, one of the leading manufacturers of natural flavours. The takeover has been approved by the Diana worker s council and cleared by the antitrust authorities. Symrise and Diana will now immediately initiate the integration according to a press release from Symrise. Symrise and Diana stand for pro-forma sales of EUR 2.3 billion. With its large portfolio of natural ingredients and extracts and its strong backward integration beyond fruit and vegetables, Diana complements the activities of Symrise. As part of the integration process Symrise will adapt its Flavor & Nutrition business in which Diana will be incorporated. Going forward, the Flavor & Nutrition segment will consist of two divisions. In the Flavors division, Symrise will concentrate on the development of flavours and flavour compounds. Symrise s functional ingredients applications, Consumer Health and the nutrition activities will be integrated to Diana, which will in the future form the second division of the Flavor & Nutrition segment. Symrise had announced the acquisition of Diana on April 12, 214 and completed the transaction on July 29, 214. The transaction is valued at around EUR 1.3 billion and financed through a combination of equity and debt. Tesco launched UK s hottest ever chilli pepper In the first week of August, Tesco, the UK supermarket, launched the hottest commercially grown chilli pepper. This is the legendary Trinidad Scorpion, which until recently held the title for hottest chilli in the. The Trinidad Scorpion registers an average 1.2 million Scoville heat units (SHU the scale for measuring the pungency of chilli peppers), although individual fruits have recorded 2 million SHU. By comparison, the average Jalapeno measures 3,5 SHU. 1

5 The Trinidad Scorpion will be on sale exclusively at Tesco s stores across the UK. It will costs GBP1. (USD1.68) for a pack of two or three peppers, but buyers point out that only the tiniest amount is needed to add excitement to a chutney or other relish. Drought hits Jamaican pimento production Earlier this month The Public ledger reported that severe drought has severely affected Jamaica s pimento crop and the spice markets expect prices to be pushed upwards as a result. The export division at the Jamaican Ministry of Agriculture and Fisheries reported Jamaica is experiencing its worst drought in many decades and the pimento crop is significantly affected. We have never seen mature pimento trees wilting in the field, but this year, they are wilting and dying in the field from the harshness of the drought conditions. In the meantime, there is no carry-over of stocks in Jamaica and offers are limited by the poor expectations of the crop. Further damage to the tree stock is also noted. Guatemala and Honduras are reported as sold out. Saffron Park to be built in India The Hindu Business Line reports from New Delhi that the Government plans to build a saffron park in Jammu & Kashmir s Pulwama district. The park will be developed at a cost of Rs crore (about USD4.6mn) by the National Horticulture Board under National Saffron Mission, an official release said. Laying the foundation stone for the park at Pampore on Saturday, Agriculture Minister Radha Mohan Singh expressed concern over reports that the area under saffron in Kashmir had declined from about 5,77 hectares in 1996 to 3,875 hectares in The Minister assured the J&K Government that since a large number of saffron fields had become senile on account of low plant population, the project for Economic Revival of J&K Saffron Sector will be implemented in mission mode. He said the National Horticulture Board had been asked to set up a world class infrastructure facility for the saffron park for processing and value-addition. The Government also proposed to create branding of Kashmir Saffron, the Minister added. A quality control laboratory will issue qualify certificate of various grades of saffron, for which a certification authority will be designated by the State Government, he added. Herbs, spices and seasoning innovation in Asia Innova Market Insights provides a review of new product launches. They report that the use of herbs, spices and seasonings in new product launches tracked in Asia continues to grow, with a 25% rise reported when comparing H1 213 and H The top category for tracked launches in the region is bouillons, stocks, seasonings and herbs (12%), with garlic being the leading ingredient among the ingredients tracked, however not within the top 5 for fastest growing herbs, spices and seasonings. The highest growth rates reported are for lemongrass (+276%), oregano (+253%) and basil (16%). Passive health claims are dominating in new product launches tracked containing herbs, spices and seasonings in Asia, with no additives/preservatives and natural as the fastest growing health claims. 2

6 Market Dynamics Pepper Prices held steady during August firming towards the end as higher producer prices fed through to the markets. The Indonesia harvest finished with output significantly reduced. 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 2 Month ago 1 Year Ago This Week 2 Month ago 1 Year Ago This Week 2 Month ago Spot 55g/l Sarawak Sarawak Year Ago Mal MG Mal MG FAQ 55g/l 8.4 Black Pepper Nearby Delivery 1.7 Lampung Steam treated 55g/l Brazil Steam 55g/l Treated Muntok FAQ spot Muntok Muntok FAQ spot White Pepper Aniseed Caraway Cardamom Cassia Celery Steam treated Sarawak Muntok spot Vietnam Vietnam 11.4 Whole China star Vietnam Star Turkish/Syrian Syrian 1% Canadian FAQ Dutch Finnish Fancy Green India AGS1 MYQ 3. Mixed Green India AGS Whole, green Korintji A 3. ML/SVO China whole Korintji B Br & Cl Vera C/W AA China broken Vera AA Vietnamese 5ML/SVO 4.3 Vietnam QNV Indian spot 2. Indian Indian 99%

8 MARKET USA JAPAN EUROPE PRODUCT GRADE PRICE GRADE PRICE GRADE PRICE Chili This Week 2 Month ago 1 Year Ago This Week 2 Month ago 1 Year Ago Indian S Indian Sanna S4 grade This Week 2 Month ago African fukien Chinese Uganda Bird s Eye Year Ago Cinnamon Ceylon H Sri Lanka C5 SP Sri Lanka c5 cut Cloves Sri Lanka hand picked Madagascar Comores / Madagascar Zanzibar Zanzibar Indo stems Coriander Bulgarian 98% East European Canadian Turkish Turkish 98% Cumin Syrian Syrian 99% Indian Indian Indian 99% Dill Indian 1.77 Indian 99% Fennel Fancy Egyptian 2.55 Egyptian99% Indian ASTA 2.3 Indian Indian 99% Fenugreek Turkey Indian 99% Ch. Powder Flakes Garlic Ch. Granulated Powder Granules Cochin Cochin Cochin Chinese sliced Chinese sliced Chinese sliced Ginger Chinese peeled Chinese whole Chinese peeled Nigerian Nigerian Mace Siauw No 2 siftings Siauw whole PNG Whole Indonesian

9 MARKET USA JAPAN EUROPE PRODUCT GRADE PRICE GRADE PRICE GRADE PRICE Mustard Nutmeg Onion Paprika Pimento No 1 Yellow Canadian This Week 2 Month ago 1 Year Ago This Week 2 Month ago 1 Year Ago This Week 2 Month ago Canada Yellow Brown oriental Canada Brown E.I. ABCDs Indo 11's Indonesian SS E.I. cracked WI 11's EI ABCDs Egypt pow Powder India pow Flakes Spanish 12 ASTA Spanish visual Spanish 8 ASTA Hungarian Hungarian 1 ASTA Peru ASTA Peru HT9 ASTA Mexico/Guatemal a Mexican Guatemala Jamaica Jamaica 7. Jamaica Poppy Dutch 2.75 Dutch Sesame Turmeric Indian Natural Central American hulled Alleppey 5.25 curcumin Alleppey 5. curcumin 3.53 Alleppey fingers Madras fingers Madras fingers Vanilla! Bourbon Extract/ Gourmet 45./ Year Ago 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. 6

10 Prices in the market place Herbs All prices are quoted in US $/Kg USA EUROPE PRODUCT GRADE PRICE GRADE PRICE This 2 Month 1Year This 2 Month 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 5.95 Chervil German Egyptian Cut n/q 2.5 Dill weed Californian 13.9 Marjoram Mint Egypt Fancy Egypt Peppermint Spearmint Egyptian Oregano Turkish 3# Turkish Parsley Israeli USA 8.16 European 2mm Rosemary Saffron Sage Savoury Tarragon Thyme Morocco Morocco Spanish Spanish Spanish 2,425 Iranian 7,77 7,77 Albanian Turkish Albanian German French French Spanish Spanish Moroccan Moroccan 7

11 Statistical information and related resources All statistics sourced UN COMTRADE ( ) Japan spice imports Imports of cardamoms to Japan by year and origin India Guatemala China Imports of cinnamon to Japan by year and origin 2,5 2, 1,5 1, Viet Nam Malaysia China

12 Imports of cloves to Japan by year and origin United Rep. of Tanzania Madagascar Indonesia Imports of coriander seed to Japan by year and origin 4,5 4, 3,5 3, 2,5 2, 1,5 Morocco India Canada 1,

13 Imports of cumin seed to Japan by year and origin 2,5 2, 1,5 1, Turkey Iran India Imports of dried capsicums to Japan by year and origin 15, 13, 11, 9, 7, 5, 3, Spain Rep. of Korea China 1, -1,

14 Imports of fennel and juniper berries to Japan by year and origin Italy India China Imports of dried ginger to Japan by year and origin 8, 7, 6, 5, 4, 3, 2, Thailand Other Asia, nes China 1,

15 Imports of mace to Japan by year and origin Indonesia Imports of nutmegs to Japan by year and origin Indonesia

16 Imports of pepper (crushed or ground) to Japan by year and origin 4, 3, 2, 1, Viet Nam Malaysia Indonesia Imports of pepper (whole) to Japan by year and origin 6, 5, 4, 3, 2, Malaysia Indonesia India 1,

17 Imports of turmeric to Japan by year and origin 6, 5, 4, 3, 2, Indonesia India China 1, Imports of vanilla to Japan by year and origin Uganda Madagascar French Polynesia

18 Imports of anise/star anise to Japan by year and origin Spain India China

19 Events Event Start Date End Date Country City URL Inprodmash 9/9/214 11/9/214 Ukraine Kiev Brazil Alimentaria 15/9/214 18/9/214 Brazil Sao Paulo Food Moscow 15/9/214 18/9/214 Russia Moscow Natural Products Expo East 17/9/214 2/9/214 USA Baltimore Annapoorna of Food 24/9/214 26/9/214 India Mumbai India Food Ingredients India 29/9/214 1/1/214 India Mumbai Agroprodmash 6/1/214 1/1/214 Russia Moscow Food Ingredients Asia 15/1/214 17/1/214 Indonesia Jakarta SIAL 19/1/214 23/1/214 France Paris 42 nd Session and Meetings of 27/1/214 3/1/214 Vietnam Ho Chi Minh IPC City Food Kazakhstan 5/11/214 7/11/214 Kazakhstan Astana IFEA 5/11/14 7/11/14 South Africa Johannesburg Gulfood Manufacturing 9/11/214 11/11/214 UAE Dubai of Food Beijing 26/11/214 28/11/214 China Beijing Horecava 12/1/215 15/1/215 Netherlands Amsterdam Gulfood 8/2/215 12/2/215 UAE Dubai Prod Expo 9/2/215 13/2/215 Russia Moscow International Food & Drink 22/3/215 25/3/215 UK London Event China International Food 4/6/215 6/6/215 China Guangzhou Exhibition Food Ingredients Asia 9/9/215 11/9/215 Thailand Bangkok IBA 12/9/215 17/9/215 Germany Munich ANUGA 1/1/215 14/1/215 Germany Cologne Food Ingredients Europe 1/12/215 3/12/215 France Paris 16

MARKET USA JAPAN EUROPE PRODUCT GRADE PRICE GRADE PRICE GRADE PRICE. 2 Month ago 1 Year Ago This Week

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