Spice & Commodity Brokers in Forest Hills, New York
John H. Elton, Inc., is a full service ingredient brokerage house specializing in herbs, spices, dried fruits and nuts.
Proud Members of:
American Spice Trade Association (ASTA)
Association of Food Industries (AFI)
©2017 John H. Elton Inc. New York, NY USA
October 19. 2018
The market for BLACK has further strengthened, with the same fundamentals driving it as were so at the time of our last report. Vietnam's nearby offers are quite steady, and buyers are reacting largely by trying to book discounted new crop offers. Those are now firmer, and only available for later months than was the case earlier. Brazil will still make some aggressive sales, but with the election still unresolved, they are not pushing for orders, and quite a few of the exporters there are withdrawn. Indonesia and India are at completely different levels, while Ecuador will sell very small quantities at competitive rates.
Vietnamese WHITE levels jumped in parallel with black. Their local levels are quite firm, and exporters advise there is not much flexibility in the limited offers made.. Indonesia has been evasive, and reluctant to renew earlier offers altogether.
Egypt has some competitively priced BASIL to sell. CARDAMOM continues to be strong and active; Guatemala is the beneficiary of orders shifting from India both because of the flood damage there, along with Middle Eastern concerns about pesticide levels in its product. Indonesia is holding center stage in the world CLOVE market and the other origins are reluctant to compete. There is further strength in Indian CUMIN because of the drought concerns. The window is closing on possible Chinese GARLIC purchases to arrive before the higher January tariffs. China is selling new crop PAPRIKA. There was drama in the Indian SESAME market in response to substantial buying interest from China and Korea; that market is gyrating daily.