John H. Elton, Inc. Spice Brokers Global Services Since 1949
Spice & Commodity Brokers in Greenpoint (Brooklyn), New York
John H. Elton, Inc., is a full service ingredient brokerage house specializing in herbs, spices, dried fruits and nuts.
Proud Member of:
American Spice Trade Association (ASTA)
©2025 John H. Elton Inc. New York, NY USA
February 13, 2025
The new U.S.- India trade agreement removes the 25% Russian oil tariff, and the 25% reciprocal rate has been reduced to 18% for some spices. There are ongoing discussions about further reduction/elimination of the 18% reciprocal tariff rate which are not yet finalized. Implentation dates need to be clarified.
Pepper
It is an unusual moment. Next week Brazil will celebrate Carnival and Vietnam will have Tet holidays - Ramadan also commences on Tuesday. With the spread between the two principal origins wider than is typical Vietnam stepped in at the eleventh hour booking substantial quantities from Brazil as sellers there are shutting down their shops. Offers from Vietnam to the U.S. are above the strike buying levels we discussed in our last report. The dynamics for the next 10 days seem to be set up for ascending pressure, especially with many sellers on the sidelines.
Other Spices:
Floods in Morocco and a Cyclone in Madagascar have caused major damage to port cities in both countries with resulting shipping delays. With the Middle East limiting purchases Guatemala eased CARDAMOM offers. Indian CUMIN eased more; forward aggressive bids are likely to find interest. Fresh Indian GINGER arrivals will likely cause pressure in coming weeks. Indian Nutmeg prices are up due to demand and short supply; new crop is in May/June. Offers of SAGE from Albania are limited.
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