Market Briefing: Spices and Exotics -14 Aug

Aug, 2021 Quản Trị

– 17% increase in India’s coriander crop
– Bangladesh has authorised imports of Indian green chilli due to supply shortage
– Sharp fall in Chinese garlic prices due to oversupply

Production

– Wildfires have burned 1,600 sq-km of forest in Turkey’s Mediterranean (South) and Aegean (East) regions since 28 July, damaging beekeepers who use pine forests to feed their bees. The government reported that around 80% of beekeeping farms have been affected in Mugla (South East), which concentrates half of the total domestic crop.
– Severe drought has hit Bangladesh’s green chilli plantations, halving yield during the summer crop, which accounts for a quarter of the total annual output.
– India’s 2020-21 coriander crop is expected to increase by 17% y/y to 822,210 tonnes on 628,600 hectares, 19% more, according to the Spices Board of India (SBI).
– Cordoba’s (Andalusia, South Spain) garlic growers are set to relocate their plantations in Castile-La Mancha (Central Spain), after water authorities announced the irrigation restrictions in the Guadalquivir basin from 30 October onwards.

Demand

– The recovery in hostelry has favoured a robust sales growth in Symrise’s (flavours and essential oils) flavour and nutrition segment. Its sales rose by 10.1% y/y to EUR1.16 billion in H1 2021 ($1.36 billion).
– India’s demand for spices is gradually recovering after the government eased Covid-19 restrictions, favouring rising coriander prices.

Trade

– Bangladesh’s government has authorised imports of Indian green chilli after a disappointing domestic crop.
– Indian sesame seed exports were 87,570 tonnes, worth $137.5 million, in January-April 2021, 6% more y/y in volume but 8% less in value. The main importers were South Korea, the US, Russia and Taiwan, which took 19%, 10%, 6% and 5%, respectively, of the volume.
– India’s coriander exports rose by 41% y/y in volume to 19,770 tonnes and by 40% more in value to $23.2 million.

Prices

– The Indian coriander spot price was INR7,308 per quintal (USD97.3/quintal) at Kota (Rajasthan, North India) wholesale market on 9 August, 6% more than on 8 July.
– Bangladesh’s green chilli prices reached TKY200/kilo ($1/kilo) in Dhaka, in the week ending on 8 August, five times more w/w due to supply shortage.
– China’s fresh garlic prices fell to $0.7-0.8 per kilo (-40% m/m) after the domestic markets were flooded with fresh products due to farmers’ concerns about work restrictions during the Covid-19 outbreak between July-August.

Source: https://vietnamentrepreneurs.com/market-briefing-spices-and-exotics-14-aug/