IEG Vu’s May Top 10: Vanilla prices ease, Danone battles Morocco boycott, Indian sugar crisis
Rising vanilla prices were a hot topic last month but slow demand is starting to weigh on values for the spice. Meanwhile, Moroccan consumers are protesting against rising food prices and Indian sugar mills are threatening not to operate due to record production and low prices.
The following articles were the most read on IEG Vu last month. Some are free to view for all, while others are restricted to channel subscriptions. Simply select the hyperlink in the headline to open the related content.
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- Vanilla traders see signs of a possible turnaround in prices (free to view) International vanilla prices have started to ease moderately as a slowdown in demand prompts sellers to lower their pricing ambitions. This is particularly noticeable on pricing indications from main origin Madagascar, but can also be seen from rival origins.
- Dairy giant Danone target of Moroccan consumer boycott (free to view) Danone’s strategy of increasing prices in the face of falling sales unravelled in Morocco, where an organised nationwide consumer boycott targeted the French company.
- India’s UP sugar mills threaten to stop 2018/19 production (free to view) The beleaguered sugar industry in Uttar Pradesh, which is reeling under record production on the one hand and falling sugar prices on the other, has threatened not to run mills in the forthcoming 2018/19 sugar season.
- Podcast: The growth of organic food and drink sales in the EU and US (free to view) The global organic sector is on a strong upwards growth curve, with organic food and drink sales in 2016 estimated at just under $90 billion, having achieved growth of around 10% a year since 2000. The sector is growing by around 15% per annum and the potential for further expansion is enormous.
- EU sorghum imports spike on cargo redirections EU imports of Sorghum rose sharply in May due to US cargoes destined for China being rerouted to Spain. China recently introduced a 178% deposit on US sorghum imports as part of escalating trade tensions, essentially killing the trade overnight and leaving cargoes on the water looking for new destinations.
- Raspberry crop propelled by new growing countries Raspberry production in newer producers such as Ukraine, Macedonia, Kosovo and Bosnia-Herzegovina is weighing on prices of the fruit.
- Chinese pear raw material prices to rise after April frost In addition to the apple crop, which suffered the most severe effects of the Chinese frost in April, the pear, apricot and peach upcoming harvests will also suffer dramatic drops this year in China.
- Rising sum: Japanese SMP demand rockets Last year, Japan imported more skimmed milk powder (SMP) than in the last nine years. The influx of powder into the country is expected to increase even further with the signing of two new free trade agreements.
- Chairman of Malaysian palm oil agency resigns after shock election result The chairman of Malaysia’s state palm oil agency, the Federal Land Development Authority (Felda), has resigned following the shock defeat of former Prime Minister Najib’s government in last month’s general election.
- Brazilian truckers' strike forces meat plant closures A strike by Brazilian truck drivers caused serious disruption to the country’s meat and poultry industries, resulting in a number of plants temporarily closing last month.
In case you missed it...
IEG Vu’s annual Canned and Tomato supplement is now available to download from the Market Reviews section of the website.
The supplement contains articles on a range of topics including tomato products, canned fruits such as peaches and pears, as well as an in-depth look at the tuna market.
Don’t forget, the Mediterranean 2018 supplement, published at the end of April, is also available for download in the same place.