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©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.
Jan. 10, 2020
Vietnam's market has held steady after the holidays on BLACK. Both buyers and sellers remain cautious as new crop arrivals are not yet heavy. Sellers are certainly not deepening forward discounts, and without that most buyers are remaining on the sidelines. Meanwhile Brazil has seen quite a bit of interest after re-opening, perhaps because their discount from Vietnamese levels had widened; some sellers have now withdrawn amidst the activity. So the tone is quite steady overall, yet the concern remains that pressure from the new crop can still reverse the trend.
Indonesian levels for WHITE eased recently after the recent advice. While many players in Vietnam are holding their levels steady, there are some who have come off levels before the break.
CARAWAY is a little softer. CARDAMOM is up even more, with nothing in sight to hold it from advancing even more from its historic highs. Indonesian CASSIA sellers are more and more reluctant to sell to the U.S. as other markets are paying higher levels for their product. The Indian CHILLIE market remains firm despite the coming crop. As frequently happens there has been good demand for the limited Brazilian CLOVE crop and offers are hard to find and are strengthening; MCZ levels are also steadier. Despite the locust concerns in India, CUMIN levels remain very attractive. Chinese GARLIC is steadier. Nigerian GINGER levels advanced a little. NIGELLA rose in anticipation of a short crop. Drought in Morocco may impact the coming ROSEMARY and THYME crops.