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October 16, 2020
Pepper:
The trend for BLACK has continued. There is a steady advance in pricing, with limited activity from the U.S. Brazil has been the aggressive seller, but their offers are limited. Indonesia is next in line, but with limited sterilization capabilities, is only of interest to select U.S. buyers; interestingly Vietnam books quite a bit of it. Ecuador had been very aggressive, but they have had good recent support, and no longer represent a substantial discount. Vietnam's levels have held steady and tended higher, which is likely the catalyst for the activity in the other markets.
For WHITE, we have seen an easing back to the competitive levels of about a month earlier from Indonesia, with Vietnam's levels advancing.
Other Spices:
Heavy demand for Egyptian BASIL, even with a good crop, has strengthened that market. Early Guatemalan CARDAMOM arrivals have been inferior quality, so many of the exporters are not stepping in and new crop offers are still on pause; India is reported to be competitive now. Unusually, Bulgaria is not competitive for CORIANDER this season. Nigerian GINGER is still not freely available; trades from other origins are more active. ONION has been active, triggered by higher domestic pricing. Brazil is offering new crop CLOVES at good levels, but the production this year is expected to be quite limited. Some origins of MACE have been more competitive. Mexico's OREGANO offers advanced more. PIMENTO continues strong, with Guatemalan levels similar to what Mexico offers.
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