Showing posts with label pinkpepper. Show all posts
Showing posts with label pinkpepper. Show all posts

Tuesday, September 10, 2019

Spice purveyor Schiff acquires Golombeck in expansion move










By Emily Bader
Totowa | Sep 5, 2019 at 5:00 am


Schiff Foods, a Totowa-based purveyor of whole spices, ground spices and seasonings, announced Wednesday it has acquired Morris J. Golombeck, a Brooklyn-based importer and exporter of high-quality spices and herbs.

Schiff, which was founded in 1949 selling food condiments in Brooklyn, moved to Totowa in 1998 to expand its business to include seeds, herbs, dehydrated vegetables, onion and garlic, seasoning blends, and more. It currently has a 300,000-square-foot warehouse with 30,000 square feet of cold storage dedicated to delicate spices and 15,000 square feet for production.

The combined companies will increase Schiff’s capacity, flexibility and technology, it said.

“The shared values and common goals of Schiff and Golombeck makes this alliance a formidable entity that will anchor our position as a major source for quality spices,” a spokesperson for Schiff Foods said. “The Golombeck team will continue to be an integral part of the Schiff management team, assuring customers that they will continue to enjoy the same personal relationships they have come to expect from an industry leader.”

The main warehouse in Totowa will be expanded and upgraded further to streamline production and distribution, the spokesperson said.

Financial terms were not disclosed.








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Wednesday, June 12, 2019

REPORT ABOUT PRESENT BLACK PEPPER MARKET & TRENDS

IN THE LAST DAYS RE GOT TO KNOW SOME REPORTS ABOUT BLACK PEPPER MARKET.

INTERESTING READING FOR THE ONES OPERATING IN THIS TRADE.

Vietnam – Although fresh demand from the world market is missing, prices are holding steady to firm.
A record quantity has been exported: March (37,000 tons), April (36,000 tons) and May
(37,000 tons) bringing a total volume to approximately 143,000 tons till May 2019;
36% more exports than 2018 in similar period.

We have not observed such stunning export figures in our 26 years of trading history. Knowing 8 more months to new crop,
farmers and dealers are now in a comfortable position to hold remaining quantities without panic. This is very much evident from arrival of goods and gradual rise in raw pepper prices.  
Their comfort level will increase more once 60-70% of crop is out of Vietnam.
In May, raw prices remained between 44000 to 46000 dong/kg.
China keep supporting the pepper market and their pepper imports have risen to 70% from 2018 followed by USA and India to 27% and 10% respectively.

Buyers keep pushing for lower prices. We have not seen very aggressive offers for future shipments as all of them feel more risk than reward.
Destination markets need to consume extra volume imported during last 3 months.
Not to forget that combined Middle East and Asia has become one of the largest pepper
consumer market in recent years and their constant support to origin keep prices steady.

Limited numbers of orders in hand with exporters do indicate that coverage for second half is yet to come.
Low pepper prices and higher maintenance cost are pushing few farmers to cut trees and plant some other commodities.
Farmers in Chu Puh and Chu Sê districts—two key pepper growing areas who had invested for a dozen of pillars that covered one hectare are now selling the same number of pillars in lower cost as many of them have gone bankrupt.
Add to pot, young trees are also dying due to poor care of farmers, poor maintenance of current
vines and virtually no new plantation, crop size will reduce gradually while world consumption in general increases by 3-4% annually.
Expect volatile days in 2020 and beyond.
Imports to India via Nepal may halt due to 100% additional duty (from 10-20%) has been imposed recently in their annual budget presented in end May.

Indonesia – No bad news so far. Expecting similar or slightly better crop than 2018. However, no selling pressure or any aggressive pricing from numbered top-class shippers.

Brazil – It is interesting to note that for the first time, Brazil is not discounting to Vietnam prices. In fact, quotes from Brazil are now in line with Vietnam. This firmness is attributed to strong currency and depleted inventories.
Brazil too have exported large volume in the last 5 months (approx. 40,000 tons).
Their new crop from Para region to start in August – September.
We have not seen any selling pressure yet. First class shippers prefer to stay away from sharp bids.
If Vietnam continues to be firm, world demand may shift to Brazil which may help Brazil to stabilize further.
In general, there is resistance at low prices.
Demand from Europe has slowed down due to the new import regulation on salmonella and at the same time volume from Vietnam has increased considerably for European ports.

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