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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.
John H. Elton, Inc. Spice Brokers Global Services Since 1949
June 14, 2019
BLACK advanced a little, but the tone is different, especially in Vietnam. Exports of 148,000 tons through the first five months of the year have convinced local players that the market is past the year's pressure from the arrivals, so farmers and exporters are more firm about the levels at which they will sell. The crops are on the horizon in Brazil and exporters will make offers, but they also are not being aggressive - and they will not discount forward positions. Indonesia's crop is also imminent; their levels still are at a premium from other competitive origins, but that amount has narrowed.
China has been buying Vietnamese WHITE, which to some exporters is cause for concern.
Other Spices:
Surprise - CARDAMOM levels have been steady of late. Indonesian CASSIA is a little stronger, even with limited activity. Indian CELERY stockists are releasing some inventories and crop arrivals are happening, so the market relaxed a little. Indonesia is competitive for CLOVES. The Indian CUMIN market has been going back and forth, largely as a result of fluctuations in the exchange levels. Drought conditions in Canadian MUSTARD growing areas are causing sellers to be cautious now about offering new crop positions. Eastern Europe and Turkey are making competitive offers of POPPY.