Spices & Exotics
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Record-high revenues in Iran’s saffron exports
Iran’s saffron exports increased by 55% in value to USD325 million in the 2016-17 season (ending in March) compared with the previous, reaching a record-high revenue.
New edible nut, fruit juice, grain, meat and egg values added to Price Graphing Tool
More than 70 new price lines were added to IEG Vu’s Price Graphing Tool in June, including values for Brazilian soybeans and corn, African-origin cashew kernels, European beef and eggs, and Chinese raw material asparagus.
Spices
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Swiss company to invest in Guatemalan essential oil supplier
Ingredients and flavours house Firmenich has signed an agreement with the Guatemalan cardamom house Nelixia to invest in its essential oil plant.
Mexico to increase vanilla exports
The Mexican ministry of agriculture has planned to boost the vanilla crop to 709 tonnes up to 2024, due to high prices in the international markets.
Mexican ban on Indian chilli drives up prices
Mexico's ban on India’s chilli imports has propelled local prices and imports from other origins such as Turkey, Spain, China or Nigeria.
Drop in Brazilian pepper prices to slow down harvest
The average monthly pepper price was at USD2.87 per kilo in May 2018, still above the USD2.60 seen at the end of March, since when prices have recovered.
Indian dried garlic prices pressed down by Chinese decline
India’s dried garlic prices have seen a general decline due to the slump in Chinese prices.
Global pepper market looks set for further downward pricing pressure
World pepper stocks are expected to remain high so the downtrend in pepper prices is likely to continue, Nedspice stated in its latest market report.
Exotics
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Sudanese gum Arabic market reflects downward pressure
Sudanese gum Arabic prices have buckled in recent weeks due to good supply from the 2017/18 crop and resistance from buyers to higher price indications.
Swiss company to invest in Guatemalan essential oil supplier
Ingredients and flavours house Firmenich has signed an agreement with the Guatemalan cardamom house Nelixia to invest in its essential oil plant.
Upturn in Mexican honey crop propelled by rains
Mexico’s honey crop has increased by 34.7% to 19,000 tonnes in the first quarter of 2018, compared with the same period last year.
IEG Vu Prices Briefing: Cocoa downtrends, EU lamb and Chinese garlic slumps, organic Brazilian honey discounted
Cocoa values slipped to a 3-month low last week, while EU sheepmeat prices fell on new season lamb arrivals. A healthy Chinese crop spurred garlic declines and dwindling demand led to reductions in Brazilian organic honey prices.
Brazilian honey exporters discount organic offers
European honey traders indicated declines in organic Brazilian honey prices this week. Quotes issued on June 5 were at USD4,150 per tonne cif northwest Europe compared with USD4,300/tonne cif on May 30.
Nut and honey factory to open in southern Ukraine
The first-ever nut and honey paste production factory is to be established in Odessa oblast, southern Ukraine.
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