TasteNews- Edition 14 Summer 2015 – Market Report

Market Report

Spices

Anise

Prices have risen in recent months – harvest is in April – watch market closely for signs of decrease.

Cardamom

Still waiting for new crop in August, heavy demand causing price increases.

Celery Seed

First reports about the May crop in India say it was hampered by rain. Also stockholders are keeping availability down. Any price drops due to new availability likely to be temporary.

Chilli

Prices steady as season in India comes to an end, with a few crop failures preventing any price drop. Market in Guntur (India) is now closed, with a price increase expected when it opens in 2^nd week of June.

Coriander

Prices have been on the up and up, with rain and hail damage to the India crop being a major contributor. The efforts of traders and stockists make it uncertain as to how this price trend will now develop, although further crop arrivals are holding price steady for the moment. Eastern European crop arrives in September.

Cumin

Prices tending upwards with arrivals of the Indian crop now at their maximum. In June/July the Turkish & Syrian crop arrives, but unclear as to what effect this will have. Further increases are expected.

Fenugreek

A big peak in exports from India during April, with this year’s crop being extra large. The drop in prices seen in anticipation of this appears to have levelled out.

Ginger

Availability of Nigerian crop is now decreasing. As this is currently the primary source of dried ginger prices for it are still on the up. Fresh ginger is in great demand in China and India, leaving little available. Prices still rising.

Black Pepper

In India any price dips caused by farmers needing to sell off their stock are being taken advantage of by the local market, so export prices remain up. Vietnamese farmers are holding on to stock, waiting for price to rise, while from Indonesia the

limited stock is following an upward trend. Overall prices may fluctuate, but no sign of dropping from the all time high.

Turmeric

Prices continue to be stable and low. Reports from India confirm that planting is lower than last year, eventually low availability will have to force price up.

Red Pepper

Daily arrivals in the bench mark Guntur market has started to decline. Correspondingly there is a slight firming up noticed. All three round of harvest have been completed. Last round harvested crop was not of very good quality. Intermittent unexpected rainfall hindered the drying process in certain areas, which in turn affected the quality.

Herbs

Basil

New crop due in July, this has already been priced higher than the current market level.

Dill Seeds

No change, stocks from 2014 crop are still sufficient to cover demand, so prices stable. Meanwhile Dill Tips are experiencing rising price due to a worldwide shortage.

Marjoram

The current crop for Egypt has yet to make its way into the hands of traders. It’s said that once they get their hands on it they will manipulate the current low prices upwards.

Parsley

As expected, still no change. Demand continues to be high, and prices are higher than last year. No new crop until July.

Rosemary

2014 stocks exhausted, and current crop due to be small. Availability this year will be delayed by Ramadan. Consequently prices are set to soar.

Thyme

Contrary to expectation the arrival of the current Egyptian crop has managed to push down prices. As crop was smaller this year low prices may not sustain.

Fennel Seed

Egyptian crop now available, but farmers reluctant to sell as they expect to hold on for a better price, especially as prices of Indian crop which dominates the market are high. Indian crop arrivals are now at peak, prices expected to rise.

Basil

Harvesting has started and will continue to October – quality looks OK to date – Best time to purchase is possibly August.

Mint

Harvesting has started – Prices are reasonable and now is the best time to purchase.

Marjoram

Cut is every three months May, September and December – prices have been rising recently – best time to purchase is June for the best quality.

Fennel

Prices remain similar to last year – best qualities will be available in July.

Coriander

Harvest completed in March – current prices look reasonable.

Oregano

First indications are that there will be a good crop and quality will be good.  Demand will, as always, be the key factor in how the market price trends.

Garlic

New crop acreage planting is down 10% compared to last year. Harvesting has commenced and yield is observed to be normal. Carry over stock of dehydrated garlic are half of that of the previous year. Especially good micro flakes for low bacteria products and top grade flakes are scarce and only for sale subject to a high premium. Overall tendency is a very firm market for the coming months.

In the next edition we will be providing the latest food trend news.  For more information about what we do or to view previous editions of Taste News please go to our website www.tasteconnection.com.

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