Spice Market Update
Indonesia cloves market surged up strongly after reaching the bottom level in the middle of Aug. Demand from importers was very high at such attractive level and local cigarette companies also started buying, cloves price is expected to be firm in short term. Price of cloves in other origins also follow the uptrend in Indonesia.
Vietnam pepper market stays firm. According to Vietnam Customs, till end of July, Vietnam exported about 184,500 tons of pepper, there is not much selling pressure because of low stock in the off-season time and the expectation of bad crop in 2021. We expect market shall be firm till the new crop. Pls find the detailed statistics of export volume from Jan to July 2020 in the attachments.
We’re able to offer black pepper from Madagascar too, there is high piperin in Madagascar pepper, price is competitive, it’s worth considering product we think. A mixed container of pepper with cloves, ceylon cinnamon is possible from this origin.
For Vietnam cassia, the harvest of cassia in Autumn season shall be in full swing in Sep, not much new arrival comes so far, price of cassia is stable with consistent demand for winter and Xmas. Price of star anise becomes easier recently, it’s good time to buy if you have demand for star anise as we expect its price shall be firm due to less availability.
For ceylon cinnamon, we can offer Sri Lanka and Madagascar origin. Price of cinnamon stick in Madagascar is much more competitive than Sri Lanka origin because it’s new on the market, however, it’s true cinnamon, especially, both Conventional and Organic qualities are available in this origin.
Ginger price is also strong in Nigeria, there is good demand while supply is limited. Port congestion in Nigeria is a problem for prompt shipment from the origin, we’re able to make prompt shipment from Dubai if you need.