Proud Member of:
American Spice Trade Association (ASTA)
©2019 John H. Elton Inc. New York, NY USA
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.
April 16, 2021
Disruption in international shipping is this period's main concern. The Ever Given has been dislodged from the Suez Canal but the fallout will take weeks to work through the system, and it is only one of many obstacles. Many origin shippers face not only exorbitant container freight increases, but also great difficulties in booking slots even when they are willing to absorb the costs. Since the onset of Covid it is as difficult a time for international freight as we have seen.
There is a market lull as we approach the end of the Vietnamese crop and the Easter Holidays. BLACK levels have eased, while WHITE offers are few and not as much easier. The Brazilian port of Vitoria is not accepting containers at the port as their backlog is so large that they do not have space for more arrivals. In terms of the U.S. market, disruption in origin shipments more than offset the slight market ease to now.
Egypt's BASIL harvest will be later this year because of the timing of Ramadan; there will be a backlog of orders from last season that will have to ship first. CARDAMOM remains firm. CLOVES strengthened more as Brazil is practically sold out; Indonesia, despite its lower inventories, is the next most competitive origin. Egypt has planted a smaller FENNEL crop this year. THYME is quite firm at many origins; Egypt's new crop levels are higher, but they are the current competitive source.