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American Spice Trade Association (ASTA)  
 

                     
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​​​​​​​​John H. Elton, Inc.               Spice Brokers                          Global Services Since 1949   

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.    

                                info@jhelton.com

March 15, 2024

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Pepper


For BLACK, while there is a slight pause in the the Vietnamese strength, the trend remains strong. Their coffee market has risen more and faster than pepper, adding to the bullish sentiment. Intrepid sellers who were willing to sell later positions, even at a premium, are disappearing. Farmers will hold stocks as their pockets are full. The most competitive offers, although not abundant, are from resellers taking profits. Regarding WHITE, we are in an unusual moment where Indonesia berries can be bought below Vietnamese levels.


Other Spices:

 

The dramatic adjustment of the Egyptian Pound last weekend should ease prices from there, but the internal market reaction has already offset the change. For the moment the best opportunity is with Egyptian herbs; seeds become more available in 2-4 weeks and could then provide better opportunities. Buyers are anxiously awaiting new crop Guatemalan ANNATTO offers as availability from origins is extremely limited and U.S. spot stocks are thin. Canada is running out of CARAWAY. In the middle of Ramadan the CARDAMOM market is inactive. New crop Indian CUMIN is arriving; IPM compliant and conventional markets are polar in their prospects. Chinese GARLIC still is quite strong, as is the world GINGER market. Czech inventories of POPPY are largely depleted earlier in the season than is typical