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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.
July 26, 2019
Brazilian exporters are reporting that the harvest in north is estimated to be 45,000 tons which is about 10% lower than last year. But even with this news offers from there continue to be well below other origins prompting some producing countries to take positions on Brazilian pepper. Meanwhile with buyers focusing on Brazil, Vietnam is ever slightly lower due to the lack of activities. Prices are marginally discounted for 1st half 2020, but not drawing much interest. Some exporters expect the price to move up finally in August, we shall see. Indonesia is not pushing, in fact the recent quotes were a tad higher.
Some relaxation on WHITE from Vietnam, but again very limited interest. Indonesia is not bending on Muntok and new crop offers remain absent.
Turkish ANISE offers are lower despite the shorter crop there. Guatemala estimates that the 2019 crop will be similar in size to the previous one, but it is too early to make offers. Carryover will be nonexistant. Indonesian CASSIA is tight on spot. There are limited sellers at origin due to religious holidays in effect there until the middle of August, the market is firmer again. In contrast Sri Lankan CINNAMON levels have relaxed. The CORIANDER harvest in BULGARIA has started; the crop will be bigger but colorwise it is dark and prices are expected to ease as a result. Meanwhile the Canadian crop received rain just when it needed it, but so far, producers there are not anxious to discount from current levels. Morocco is competive. Brazilian PINK PEPPERCORNS have eased to levels which are now generating buying interest.