Market update

  • 15 August 2019 Open or Close

    Vietnam pepper prices move sideways within a very narrow price range. Brazil B.1 / ASTA prices look attractive around USD 2050/t FOB.

    Mexican pimento crop has started. After initially indicating prices around usd 2600/t CF now offers are withdrawn. Crop is somewhat delayed and presumably is smaller than last year.

    The availability of nutmeg in Europe and producing countries is limited hence market is expected to move up. As for ginger it will take another 5 months before the new crop Nigeria will become available (and crop is anticipated to be smaller than last year). EU-eligible material is not available for shipment anymore and spot market is tight. Here also we foresee a firming market in the months ahead.

    Cloves prices bounced back a little from previous lows. Comoros not offering and Madagascar crop not started yet.

    New 2019 European seed crops are available and look attractive. Full truckloads mustardseed, coreanderseed come at (lower) attractive prices. Carawayseed prices seem slightly higher than the previous year.

    The new crop poppyseed is available shortly. A starting price around EUR 2,50/kg seems feasible (basis full truck loads).

    Economic and political unrest cause stock markets to correct downwards. We witness a strong dollar against origin currencies.

  • 3 July 2019 Open or Close

    The European spot market remains quiet, prices for most products are more or less unchanged. Worldwide there is abundant pepper and right now we see no reason why prices should improve short term.

    Clove prices have come down gradually during  the past months. Instead of importing, Indonesia now seems active as an exporter thus putting pressure on other origins. 

    New crops of coreander and poppyseed are getting close and we anticipate lower prices for these products in August.

    Garlic prices (powder / granules / flakes) have stabilized. There is a good carry over of old crop material. For light color 2019 crop material buyers should be prepared to pay a premium of minimum 25 %. The new crop is abt 30% smaller than in previous years and farmers hold on to their stocks expecting to get better prices in August. Until that changes prices for light color material will remain (much) higher.

  • 30 May 2019 Open or Close

    Vietnamese pepper exports are continuing at a high level and are likely to reach a staggering 140K mt by the end of May. All major destinations contributed and imported more than in previous years.In particular, pepper exports to China rose sharply, making it the largest importer to date in 2019. Part of this Chinese import is speculative and we understand that inventory levels are rising. Nevertheless, the Chinese potential in terms of finance, storage capacity and consumption is huge and if it continues to buy, the existing theories and predictions of the pepper market may need to be adjusted. We currently see no reason why pepper prices should fall further.

    The US$ exchange rate keeps moving sideways in between 1.11 and 1.12 against the EURO.

  • 17 May 2019 Open or Close

    During the past few weeks we have seen a fairly active market. The prices for the various types of pepper stayed within a very narrow range for several months now. We anticipate that this will continue in the months ahead.

    Market prices of dried onions of various origins have risen considerably but now seem to be stabilize at established higher levels.

    Prices for Chinese dried garlic are rather volatile at the moment. There is a decent carry over of 2017 / 2018 crop material but the 2019 crop is anticipated to be around 20 % smaller. In our opinion, there is no real shortage but for now prices are firming.

    The daily news is dominated by geopolitics and the political climate looks restless. The dollar exchange rate is not concerned by this and moves sideways around a level 1.12 (to the €)

  • 25 April 2019 Open or Close

    The pepper market remains firm. The availability of Brasilian black pepper is limited and prices are now around usd 2350 per m/t FOB. This is also known to farmers in Vietnam and there, too, slightly higher prices are demanded. During the first 3 months of this year, Vietnam exported 72,000 m/t pepper. 60% of this went to destinations in Asia, 20% to North America and 15% to Europe. Exports increased by around 20% compared to 2018.

    Prices for consumption seeds from India (sharply) increased in the past month. We understand that the crops of fenugreek, nigella and cumin seeds, among others, are substantially smaller. South India is suffering from a shortage of precipitation and cardamom prices set new records.

    Oil prices have risen by 10% in a month, apart from that the dollar exchange rate remains high. Could this be the start of rising inflation or a slowing economy ?

  • 10 April 2019 Open or Close

    During the past weeks pepper prices moved sideways as anticipated. Only the prices from Brazil are a little up but we feel this is temporarily. Arrivals from Esperito Santo are getting less and the harvest in Para will only start late July. Demand from China for Vietnam pepper seems to slow down a little.

    Prices of dehydrated onions from India are about 35 % higher than last year. Information about the cropsize is still a bit diffuse but likely it is smaller by some 20 to 30 % compared to 2018. We anticipate prices to remain firm during 2019.

    After strongly increasing prices of garlic early 2019 China prices now show a technical correction and have come down a little. Exporters and speculators follow the pending crop, that is due in May, closely.

    In recent days the USD is a little weaker to the EURO. Todays exchange rate stands at 1.1275 Attached our price list – prices are strictly subject to our final confirmation.

  • 8 March 2019 Open or Close

    Pepper prices are slightly higher than 2 weeks ago. Vietnam origin currently determines the market with its 2019 crop well in progress. Good demand from Asian countries, including China, is supporting the current price levels.

    We believe that pepper prices will continue to move in a narrow range during 2019. 

    The prices for dried garlic have recently increased sharply. Due to low prices in 2018 less garlic is planted and a 30% smaller crop is expected. The prices of fresh garlic have increased by about usd 150 per mt. Let's apply a drying factor of about 4 to that, then that comes down to the price increase for dehydrated garlic of usd 600 per mt.

    This week the ECB announced continued support to the European financial system, which pushed the EURO exchange rate a little down.

  • 20 February 2019 Open or Close

    Vietnam origin pepper market started lower this week after the ending of the TET festivities. The crop peak season has started and will continue until late March. We see prices for 500gr/l FAQ slightly below usd 2,000/t CF but this quality is not suitable for Europe. The price for cleaned, sterilised pepper with an EU pesticide guarantee is more something like usd 2,750/t CF. Vietnam white pepper origin price is more stable around USD 3,550/t.

    We witness a continuous good demand for cassia sticks. We understand from our suppliers that collection of good raw material is difficult and that prices keep increasing. This explains why the qualitiy of the Indonesian cassia sticks has come down in recent years. We offer different qualities at different price. Vietnam still has difficulties producing nice cigarette rolls cassia sticks. Apart from that the taste is different.

    China garlic prices seem to have bottomed and recently origin prices moved up 10-15 %. There is abundant material available following a bumper crop in 2018 so it is unlikely that prices increase much further until it is clear what the 2019 crop will be.

  • 22 January 2019 Open or Close

    Pepper prices remain bearish moving sideways. Vietnam is anticipated to have a bumper crop of around 275,000 m/t. Exports will pick up only after the TET holidays (Feb 2 – 10). Even though Vietnam exports pepper year round  during February and March extra demand may be anticipated from China and Muslim countries. The latter will actively buy prior the Ramadan starting May 6th. Taking in to consideration the crop size, we feel there is not much upward potential for prices.

    Cardamom prices keep moving up with price records being established in the Kerala auction and Guatemala gladly following. Importers need deep pockets and hence spot availability is limited.

  • 1 January 2019 Open or Close

    We wish you a happy, healthy and successful 2019 ! (and look forward to good cooperation)

    Stockmarkets closed 2018 nervously and we think that this will continue in 2019. Geopolitics and trade wars are not helpful at all. Apart from that we anticpate a weakening US$  Let us see what 2019 brings ….


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