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.
Proud Members of:
American Spice Trade Association (ASTA)
Association of Food Industries (AFI)
©2019 John H. Elton Inc. New York, NY USA
April 05, 2019
Two events are of note for the Spice trade this week. It is our understanding that the fire at the Newlyweds facility impacted offices and the bakery division, not spice operations, so the impact to the U.S. trade should be minimal. In Turkey, the Istanbul election results and disruption there may heighten an already chaotic situation; can the Lira deteriorate substantially more?
The market for BLACK is similar to how it was at the time of our last report. Brazil continues to sell steadily the limited remaining stocks, Vietnam is quite interested in firm bids without aggressively discounting offers, and Indonesia is also not pushing. Overall the need for early Vietnam shipments seems past and we are likely to see a stable to easing market from there for quite some time, which likely will set the tone of the market.
WHITE also is in a holding pattern.
Indonesian CASSIA levels have been steady, while Vietnam's offers are a little easier, and China will soon be offering new crop Tunghing. Chinese GARLIC remains quite firm with plantings for the coming crop reduced 20-30%; meanwhile stocks are abundant in the U.S. as importers stocked up in response to the earlier tariff increase scare. OREGANO and other Turkish items bear watching per our report above. The Chinese PAPRIKA market has some strength, as their Government has cracked down on border trade of CHILLIES, and so their internal market has been replacing the former for the latter. Europe continues to make sales of new crop PARSLEY with buyers taking advantage of the weak Euro. Morocco continues to make only limited offers of new crop ROSEMARY.