SPICES MARKET INSIDER Market Insider
Market Insider Spices Report prepared for ITC s Market insider by: Peter Jaeger 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 @ITCMktInsider Copyright Market Insider/ITC 2014. All rights reserved
INDEX SPICES NEWS AND UPDATES... 4 MARKET DYNAMICS... 6 PRICES IN THE MARKET PLACE... 6 Spices... 6 PRICES IN THE MARKET PLACE... 6 Herbs... 6 STATISTICAL INFORMATION AND RELATED RESOURCES... 7 EVENTS... 6
Spices News and Updates Jain Irrigation Systems The Economic Times of India report that Jain Irrigation Systems, the India based multinational agribusiness, is proposing to add spices to its wide basket of products. "We have taken a decision to enter the spice processing business. To begin with, we will export and eventually enter the market," said Jain Irrigation MD Anil Jain. The company will be launching major spices from black pepper, turmeric, ginger, cumin and chilli. The world's largest mango processor already sells dehydrated onion and vegetable products, fruit purees, concentrates, clarified juices and frozen products under the Farm-Fresh brand name in India and overseas. With an investment of Rs 50 crore (about USD8.3mn), a spice processing unit would be set up at Nashik by next year. In the medium-to long term, the company plans to set up another spice processing centre in Alwar in Rajasthan and a third in Udumalpet in Tamil Nadu, reported The Economic Times. Source: http://articles.economictimes.indiatimes.com/2014-02-26/news/47705487_1_jain-irrigationsystems-major-spices-processing Olam complesd the expansion of its spice processing facility In January this year, Olam Spices & Vegetable Ingredients (Olam SVI) reported the completed expansion of its spice processing facility in Ho Chi Minh City, Vietnam. The expansion more than doubles its previous production capacity and output of pepper, ginger, cinnamon and nutmeg. The 85,300-sq.-ft spice processing facility will enhance cleaning and storage processes for black pepper, and adds capabilities to process cinnamon, ginger and nutmeg products. Upgrades to the Vietnam facility include cryogenic milling using liquid nitrogen; a pepper cleaning line; a Plant HTST steam sterilisation and pasteurisation system; and new pepper milling lines. Olam SVI has added climate control for balancing water activity in the processed products and expanded physical storage capabilities. New pepper, ginger, cinnamon and nutmeg grinding lines and equipment will more than double production capacity and output for those products. The expansion augments the facility s existing separators, sifters and two steam sterilisers that clean the spices and reduce microbial contamination. The facility is one of the largest in the world in its category and employs more than 400 people. Olam SVI s efforts to improve quality standards of spices produced in Vietnam includes farmer training to promote safe agricultural practices. Structured courses are offered through learning centres and extension providers, and model farms have been established. Source: http://olamonline.com/news/olam-spices-vegetable-ingredients-announces-expansion-ofits-vietnam-facility-enhancing-production-and-safety-of-its-black-pepper-andspices/#sthash.r2ftfvzq.dpuf
IPC - The International Pepper Community announced the appointment of Mr. Tran Kim Long. IPC - The International Pepper Community announced the appointment of Mr. Tran Kim Long, Director General of International Cooperation Department, Ministry of Agriculture and Rural Development of the Government of Vietnam, as the Chairman of the International Pepper Community. Mr. Tran Kim Long assumed the office of the Chairman of the IPC from Datin Nurmala Abd. Rahim of Malaysia, who was the Chairperson of the IPC for the period of 2012/2013. Mr. Tran Kim Long is currently the Director General of the International Cooperation Division under the Ministry of Agriculture and Rural Development. His principal areas of responsibilities are on the Development economics; participatory monitoring and evaluation; rural area development, project implementation and management, institutional and policy development, project planning and training. World Spice Congress -The 12th World Spice Congress, a global platform for spices business, was held in Cochin, India during February. The biennial event is organised jointly by the Spices Board and the All India Spice Exporter s Forum (AISEF). A statement issued by the Spices Board said more than 700 delegates from more than 40 countries were participating in the congress. A spices exhibition was also inaugurated after the launch of the Spices Congress, the press release added. Over 50 companies, farmers, exporters and producers exhibited various spices and products at the event. The meeting has stressed the need for driving quality up to the grass root level producers as part of sustainability initiatives. Margaret Hamburg, the US Food and Drug Administration Commissioner, called for collaborations to enhance the safety of products that are exported to to the USA. Hamburg was on her first official visit to India and had met drugs and food industry representatives in New Delhi, Mumbai and Kochi to drive the point. Hamburg stated that the ongoing Indo-US collaboration is designed to enhance systematic responses for addressing challenges related to food safety and the spice industry. Regulatory Codex Alimentarius holds its first session in Kerala, India The Codex Committee on Spices and Culinary Herbs (CCSCH) held its First Session in Kochi (Cochin), Kerala, India from 11 to 14 February 2014. The Committee agreed to the proposals from a working group on new work on the development of standards for black, white and green pepper, brown cumin, oregano, and thyme A proposal for paprika was held pending further clarification from other committees as to whether it was already in their work plans. Proposals for nutmeg, rosemary and saffron were to be revised and resubmitted for consideration by the Committee at its next session.
Market Dynamics Coriander Rain damage to the Indian crop has added to supply concerns following a poor crop in Eastern Europe last year. Although the higher oil content of Eastern European coriander is often preferred, availability here has tightened, and, according to trade sources, buyers are looking towards south Asia. Prices in Europe are now around the US$1900/tonne level, up from a more typical US$1500/tonne. Pepper The New Year opened with a softer market for a short while, which then firmed up into the lunar New Year and the Tet holidays. Lately, the Vietnamese Pepper Association (VPA) has reportedly encouraged farmers to hold back pepper in order to maintain the steady tone in the market. According to the Ministry of Agriculture and Rural Development in January Vietnam exported 19,000 tonnes of pepper worth US$132 million, down 8% in volume and 5.5% in value versus the same period last year. The VPA is anticipating a current crop of some 120,000 125,000 tonnes while other observers suggest that annual production of the order of 150,000 tonnes is more likely. The International Pepper Community (IPC) reported domestic prices in producing countries as follows: Producer Prices in US$ / tonne*
Prices in the market place Spices All prices are quoted in US$/Kg MARKET USA JAPAN EUROPE KUWAIT PRODUCT GRADE PRICE GRADE PRICE GRADE PRICE GRADE PRICE Black Pepper White Pepper Aniseed Caraway Spot 8.05 Sarawak 9.20 FAQ 500g/l 7.15 Tellicherry Extra Bold Nearby Delivery Muntok FAQ spot Muntok nearby 11.02 Mal MG-1 9.75 FAQ 550g/l 7.80 MG1 7.61 Lampung Brazil 12.68 Muntok Brazil Sarawak 16.00 SteamTreated 550g/l Muntok FAQ spot Brazilian spot Steam treated Muntok spot Vietnam 10.36 Vietnam 10.50 Whole China star 6.83 China Star 7.60 Turkish 40.8 Syrian 1% 3.85 Canadian 2.20 FAQ Dutch Dutch 1.97 11.65 FAQ FAQ Vietnam Cardamom Cassia 6 Fancy Green 2.76 India AGS1 MYQ 5.75 No 1 Mixed Green India AGS Bold 13.23 No 2 Korintji A 3.00 ML/SVO 2.47 China whole Korintji B Br & Cl Vera C/W 4.52 China broken 2.90 Vera AA China broken Market Insider Spices
All prices are quoted in US$/Kg MARKET USA JAPAN EUROPE KUWAIT PRODUCT GRADE PRICE GRADE PRICE GRADE PRICE GRADE PRICE Celery AA Vietnamese 5ML/SVO Vietnam QNV 3.15 Indian spot Indian Indian 99% Chili Cinnamon Indian S4 2.54 African fukien Ceylon H2 10.36 Indian Sannam 3.97 Chinese Sri Lanka C5 SP S4 grade Malawi Bird s Eye Sri Lanka c5 cut 5.00 Indian powder Pakistan powder Cloves Coriander Cumin Sri Lanka hand picked Zanzibar Indo stems Bulgarian Canadian 1.87 17.90 Madagascar 15.75 Zanzibar Comores / Madagascar 98% East European Turkish 2.76 Turkish 98% 13.80 1.97 Indian Syrian Syrian 99% 3.05 Iran Indian Indian Indian 99% Indian Dill Indian Indian 99% Fennel Fancy Egyptian Egyptian99% Indian ASTA Indian Indian 99% Indian Fenugreek Turkey 1.10 Indian 99% 0.86 Indian Garlic Ch. Powder 2.38 Flakes 2.48 Ch. Gran ed 2.60 Powder 2.09 Granules 2.34 Market Insider Spices 7
All prices are quoted in US$/Kg MARKET USA JAPAN EUROPE KUWAIT PRODUCT GRADE PRICE GRADE PRICE GRADE PRICE GRADE PRICE Ginger Cochin 5.29 Cochin Cochin 4.30 Chinese Chinese sliced sliced Chinese sliced Chinese Chinese 463 peeled whole Chinese peeled 4.98 Nigerian 3.20 Nigerian 2.25 Chinese Mace Mustard Nutmeg Onion Paprika Pimento 8 Siauw No 2 siftings No 1 Yellow Canadian Brown oriental 35.27 Siauw whole 22.50 PNG Whole 16.00 Indonesian 1.57 Canada Yellow 1.36 1.54 Canada Brown 1.31 Indian E.I. ABCDs 20.39 Indo 110's 20.50 Indonesian SS 15.20 E.I. cracked 18.19 WI 110's 16.90 Egypt pow India pow Spanish 120 ASTA Spanish visual 5.18 Hungarian 6.83 India EI ABCDs Powder Flakes Spanish 80 ASTA Hungarian 100 ASTA Peru HT90 Peru ASTA 2.09 ASTA Mexico/Guat Mexico/Guate 4.30 Mexican 5.00 4.45 emala mala Jamaica 6.95 Jamaica Jamaica 6.50 Market Insider Spices 2.70
All prices are quoted in US$/Kg MARKET USA JAPAN EUROPE KUWAIT PRODUCT GRADE PRICE GRADE PRICE GRADE PRICE GRADE PRICE Poppy Sesame Turmeric Dutch Australian Indian Natural Central American hulled Indian hulled Al pey 5.25 curcumin Al pey 5.0 curcumin Indian ground Madras fingers Alleppey fingers Indian Rajapuri Dutch Turkey Indian Hulled Madras fingers Indian Hulled Vanilla! Bourbon Bourbon 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. Powder Madras powder Market Insider Spices 9
Prices in the market place All prices are quoted in US $/Kg USA EUROPE PRODUCT GRADE PRICE GRADE PRICE 1Year Herbs 1Year Egyptian FAQ 3.09 Egypt 2.91 Basil Egyptian Extra Fancy Egypt fines Turkish Fancy FAQ Bay leaves Turkish semi select 3.86 Turkish semi-select 5.15 Chervil Dill weed Marjoram Mint German Egyptian 1.85 Cut 2.71 Californian Egypt Fancy 3.97 Egypt 3.88 Peppermint 5.07 Spearmint 6.50 Egyptian 6.12 Oregano Turkish 30# 6.28 Turkish 3.45 Parsley Israeli 6.50 European 2mm 6.81 Rosemary Saffron Sage Savoury Tarrn Thyme Morocco 1.96 Morocco 2.17 Spanish Spanish 2.17 Spanish Iranian Albanian 5.07 Turkish 6.46 Albanian 3.53 German 5.35 French 27.56 French 24.67 Spanish 3.88 Spanish 3.20 Moroccan 3.88 Moroccan 3.20
Tonnes Tonnes Statistical information and related resources Update of EU Spice Imports 80,000 EU 27 Imports of Pepper 60,000 40,000 20,000 0 2008 2009 2010 2011 2012 2013 PEPPER OF THE GENUS PIPER, CRUSHED OR GROUND PEPPER OF THE GENUS PIPER, NEITHER CRUSHED NOR GROUND 80,000 EU 27 Imports of Pepper by origin 60,000 40,000 20,000 0 2008 2009 2010 2011 2012 2013 Vietnam Brazil Indonesia India EU27 Extra
Tonnes Tonnes EU 27 Imports of Ginger 80,000 60,000 PERU THAILAND 40,000 INDIA NIGERIA 20,000 BRAZIL CHINA 0 2009 2010 2011 2012 2013 TOTAL EU 27 Imports of Cardamoms 2,500 2,000 1,500 1,000 500 INDIA GUATEMALA TOTAL 0 2009 2010 2011 2012 2013
Tonnes Tonnes Tonnes EU 27 Imports of Cloves 3,500 3,000 2,500 2,000 1,500 1,000 500 0 2009 2010 2011 2012 2013 VIETNAM BRAZIL SRI LANKA INDONESIA COMOROS MADAGASCAR TOTAL 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0 2009 EU 27 Imports of Coriander 2010 2011 2012 2013 ARGENTINA SYRIA TURKEY EGYPT MOROCCO RUSSIA INDIA UKRAINE TOTAL 12,000 EU 27 Imports of Cumin 10,000 8,000 6,000 4,000 2,000 TURKEY INDIA SYRIA TOTAL 0 2009 2010 2011 2012 2013
Tonnes Tonnes Tonnes EU 27 Imports of Mace 1,400 1,200 1,000 800 600 400 200 INDIA SRI LANKA GRENADA VIETNAM INDONESIA TOTAL 0 2009 2010 2011 2012 2013 EU 27 Imports of Nutmeg 5,000 4,000 3,000 2,000 1,000 SRI LANKA INDIA VIETNAM GRENADA INDONESIA TOTAL 0 2009 2010 2011 2012 2013 EU 27 Imports of Vanilla 2,500 2,000 1,500 1,000 500 0 2009 2010 2011 2012 2013 UGANDA COMOROS JAMAICA INDONESIA INDIA MADAGASCAR TOTAL
Events Event Start Date End Date Country City URL Barcelona Alimentaria 31/03/2014 03/04/2014 Spain Barcelona www.alimentaria-bcn.com Prodamach Frost Upak 01/04/2014 04/04/2014 Belarus Minsk www.minskexpo.com Natural & Organic Products Europe 13/04/2014 14/04/2014 UK London www.naturalproducts.co.uk WorldFood Uzbekistan 20/04/2014 04/04/2014 Uzbekistan Tahkent www.ite-uzbekistan.uz Food Ingredients Istanbul 24/04/2014 26/04/2014 Turkey Istanbul www.foodingredientsglobal.com/istanbul/home Thaifex World of Food Asia 21/05/2014 25/05/2014 Thailand Bangkok www.worldoffoodasia.com Food Ingredients Vietnam 21/05/2014 23/05/2014 Vietnam HCMC www.foodingredientsglobal.com/vietnam/home Mexico Alimentaria 03/06/2014 05/06/2014 Mexico Mexico City www.alimentaria-mexico.com IFT 21/06/2014 24/06/2014 USA New Orleans www.am-fe.ift.org International Pepper Conclave 24/06/2014 25/06/2014 UAE Dubai www.ipcnet.org/
Event Start Date End Date Country City URL Food Ingredients South America 05/08/2014 07/08/2014 Brazil Sao Paulo www.foodingredientsglobal.com/southamerica/home Inprodmash 09/09/2014 11/09/2014 Ukraine Kiev www.inprodmash.ua Brazil Alimentaria 15/09/2014 18/09/2014 Brazil Sao Paulo www.alimentariabrasil.com.br World Food Moscow 15/09/2014 18/09/2014 Russia Moscow www.world-food.ru Natural Products Expo East 17/09/2014 20/09/2014 USA Baltimore www.expoeast.com Annapoorna World of Food India 24/09/2014 26/09/2014 India Mumbai www.worldoffoodindia.com Food Ingredients India 29/09/2014 01/10/2014 India Mumbai www.foodingredientsglobal.com/india/home Agroprodmash 06/10/2014 10/10/2014 Russia Moscow www.agroprodmash-expo.ru Food Ingredients Asia 15/10/2014 17/10/2014 Indonesia Jakarta www.foodingredientsglobal.com/asia-indonesia/home SIAL 19/10/2014 23/10/2014 France Paris www.sialparis.com World Food Kazakhstan 05/11/2014 07/11/2014 Kazakhstan Astana www.worldfood.kz
Event Start Date End Date Country City URL Gulfood Manufacturing 09/11/2014 11/11/2014 UAE Dubai www.gulfoodmanufacturing.com World of Food Beijing 26/11/2014 28/11/2014 China Beijing www.worldoffoodbeijing.com Horecava 12/01/2015 15/01/2015 Netherlands Amsterdam www.horecava.nl/ Gulfood 08/02/2015 12/02/2015 UAE Dubai www.gulfood.com Prod Expo 09/02/2015 13/02/2015 Russia Moscow www.prod-expo.ru International Food & Drink Event 22/03/2015 25/03/2015 UK London www.ife.co.uk Food Ingredients Asia 09/09/2015 11/09/2015 Thailand Bangkok www.foodingredientsglobal.com/asia-thailand/home IBA 12/09/2015 17/09/2015 Germany Munich www.messe-duesseldorf.de ANUGA 10/10/2015 14/10/2015 Germany Cologne www.anuga.de Food Ingredients Europe 01/12/2015 03/12/2015 France Paris www.foodingredientsglobal.com/europe/home
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