IPC REPORTS - EXPORT OF PEPPER BY NETHERLANDS - April 30, 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EXPORT OF PEPPER BY NETHERLANDS

The Netherlands is a country located mainly in North-western Europe. In the past, Netherlands had an important role in the spread of pepper in the world. In 1595, Houtman of Holland made a successful voyage to Indonesia. This was the beginning of monopoly spice trade. Netherlands gradually established a firm grip over the pepper producing centers near Lampung in Sumatera and Banten in Java. Pepper is a thriving agriculture activity in Lampung region even today. Furthermore, Netherlands actively imports pepper from various pepper producing countries for domestic consumption or for re-export.

In 2019, Netherlands was reported to have imported a total of 11,140 Mt which 66% of it comprised of whole pepper. In the following year, Netherlands's import of pepper increased by 11%, totaling at 12,404 Mt. As of January 2021, Netherlands was reported to have imported a total of 1,399 Mt of which 768 Mt went for re-export purposes. The ratio of Netherlands's import and export during 2019 - January 2021 were 1.3:1, 2:1 and 2:1 respectively. The top five countries of origins for Netherlands's pepper as of January 2021 were reported to be Viet Nam with 847 Mt (contributed to 61% of the total pepper imported by Netherlands as of January 2021), Brazil with 248 Mt (18%), Indonesia with 59 Mt (4%), Germany with 52 Mt (3.7%) and Tanzania with 50 Mt (3.6%).

In 2019, Netherlands was reported to have exported a total of 8,313 Mt of pepper which 52% or 4,324 Mt of it comprised of whole pepper and 48% or 3,990 Mt of it ground pepper. Netherlands on average exported a total of 693 Mt per month in 2019 which peaked in March with 791 Mt. The total revenue of Netherlands's export of pepper in 2019 was reported to be as high as USD 38.3 Million. Thus, recording an average price of the total pepper exported by Netherlands at USD 3,920 per Mt for whole pepper and USD 5,357 per Mt for ground pepper.

Year 2020 saw a decrease in term of quantity of pepper exported by Netherlands. Netherlands was reported to have exported a total of 7,804 Mt which 47% or 3,662 Mt of it comprised of whole pepper and 53% or 4,142 Mt of it ground pepper, recording a decrease of 6% when compared to 2019. The average export of pepper by Netherlands in 2020 was reported to be 650 Mt per month which peaked in January with 792 Mt. In accordance with decreasing in term of quantity, Netherlands's revenue from pepper export was reported with a decrease of 14% as compared to the previous year to a total of USD 33.0 Million. Thus, recording an average price of the total pepper exported by Netherlands at USD 4,292 per Mt for whole pepper and USD 4,182 per Mt for ground pepper or an increase of 10% for whole pepper and a decrease of 22% for ground pepper as compared to 2019.

As of January 2021, Netherlands was reported to have exported pepper totaling 768 Mt which 48% or 370 Mt of it comprised of whole pepper and 52% or 398 Mt of it ground pepper. Thus, recording a decrease of 3% when compared to the same period in 2020. As of January 2021, the total revenue of pepper export by Netherlands was reported to have reached USD 3.6 Million recording an increase of 12% as compared to the same period in 2020. The average price of the total pepper exported by Netherlands as of January 2021 was reported to be USD 4,508 per Mt for whole pepper and USD 4,997 per Mt for ground pepper.

Pepper from Netherlands is traded worldwide with most of them being European countries. As of January 2021, Netherlands's top 5 country destinations for its pepper were reported to be Germany with 216 Mt (an increase of 43% as compared to the same period in 2020), Belgium with 131 Mt (a decrease of 16%), France with 111 Mt (an increase of 19%), Spain with 43 Mt (an increase of 93%) and Hungary with 39 Mt (a decrease of 16%). The decrease of Netherlands's pepper export to Belgium was the result of Belgium shifted to import pepper from origin country such as Madagascar (an increase of 61% or 8 Mt as compared to the same period in 2020) and Spain (an increase of 19 Mt).

IPC PEPPER MKT REPORT No. 18/21, 26 - 30 April 2021

 
LOCAL MARKET REPORT

Market showed a rather negative response. In local market, Malabar black pepper was reported with 2% deficit when compared to the previous week, averaging at USD 5,031 per Mt. Indonesia black and white pepper were reported with 4% and 1% deficit respectively when compared to the previous week, averaging at USD 3,280 per Mt for black pepper and USD 6,041 per Mt for white pepper. Malaysia black and white pepper were reported with an increase of 2% respectively as compared to the previous week, averaging at USD 3,292 per Mt for black pepper and USD 4,920 per Mt for white pepper. Furthermore, Viet Nam farm gate price of black and white pepper were reported with 6% and 5% deficit respectively as compared to the previous week, averaging at USD 2,699 per Mt for black pepper and USD 4,306 per Mt for white pepper. Sri Lanka black pepper was reported with 4% deficit as compared to the previous week and was traded at an average of USD 3,414 per Mt. China white pepper was reported with 1% defici t as opposed to the previous week and was traded at an average of USD 6,125 per Mt locally.

INTERNATIONAL MARKET REPORT

International market also showed a rather negative response as India black pepper was reported with the same 2% deficit when compared to the previous week, averaging at USD 5,300 per Mt. Indonesia black and white pepper were reported with 3% and 1% deficit respectively when compared to the previous week, averaging at USD 3,907 per Mt for black pepper and USD 6,965 per Mt for white pepper. Malaysia black and white pepper were reported with an increase of 1% and 2% respectively as compared to the previous week, averaging at USD 4,665 per Mt for black pepper and USD 6,120 per Mt for white pepper. Furthermore, Viet Nam black pepper 500 g/l, 550 g/l and Viet Nam white pepper were reported with 1% deficit respectively when compared to the previous week, averaging at USD 3,608 per Mt, USD 3,648 per Mt and USD 5,343 per Mt respectively. China white pepper was also reported with 1% deficit as compared to the previous week and was traded at an average of USD 6,325 per Mt. US market and trading house back to back order was reported stable and unchanged in the last two weeks. Muntok white pepper in US Market for CF May/June was reported at USD 6,900 per Mt.

VIETNAM PEPPER MARKET UPDATE 26th APRIL 2021 – WEEK 17

 

 

 

PEPPER

 

According to customs data, exports in the first half of April 2021 reached 15,304 tons of pepper, with a turnover of $ 47.90 million, bringing pepper exports in the first 3.5 months of 2021 to 76,296. tons, turnover of USD 227.94 million, decreased by 21.98% in volume but increased by 7.32% in value over the same period last year.

 

The average export price in the period reached 3,130 USD / ton, up 6.07% compared with the average export price in March 2021. We forecast total quantity export in April will reach 34.000Mts at least and first 4 months 2021 Vietnam will export around 95.000 tons (first 4 months 2020 was 116.764 tons).

 

The pandemic Covid-19 outbreak in many countries of the world is causing the consumption of pepper to drop sharply, forcing the price to drop sharply last 2 weeks.

 

In the fact, the export situation is quite bleak, mainly handling old orders delivered in May. Meanwhile, although the harvest is over, there is no sell pressure from farmer as usual. 

 

In general, Vietnam has completed the 2021 pepper crop. Last week, the weather was favorable for plants to grow in the 2022 crop. Due to the slow demand from other markets such as China, the Middle East, and Europe. Along with that, the disease situation is still very complicated in the two pepper exporting countries as India and Brazil, besides farmers household also need to cover labor and fertilizer costs then this week farmers offer more raw material. The price has fluctuating daily last week with a range of 50 - 100 $ / MT. However, almost immediately the market recovered very quickly because farmers / collectors immediately not offer in bulk when market correction.

 

Let look back at the past 4 months and make a more assessment of Vietnam's crop situation in 2021. We would like to send you the data scenarios that are likely to happened during this year to have a more comprehensive view of the price trend in the coming time.

Section	Scenario 1	Scenario 2	Scenario 3
Carryover (2019 – 2020)	50	40	40
Crop 2021	230	200	170
Total Import 2021	30	30	30
Exported in first 4 months	94,5	94,5	94,5
Domestic consumption	10	10	10
Lost weight in process white pepper	10	10	10
Quantity available next 8 months	195,5	155,5	125,5
Possibility	50% ?	50% ?	0%

 

 

Please note;

 

- The data of inventories of the year before 2019 / 2020 passed through is now in stock of farmers / exporters, processor / agents with very low selling pressure (frozen stock).

 

- Every year, inventories (carryover) are usually kept at origin about 10-15% of the total exported volume.

 

According to the above hypothetical scenarios, the third scenario is unreasonable, although this is the number of many people have given up on the market in order to distort the market and not correct source. The scenario easier will be under 1 & 2. Regardless of any scenarios, pepper production in 2021 is not expected to be as abundant as in previous years and supply pressure took place in February and March as you can see (prices increased by 45% within more than 1 month).

 

 

 

 

CHECK LAST PRICE INDICATIONS FOR VIETNAM PEPPER, CASSIA, TURMERIC, STARANISE...
https://offers-peppertrade.blogspot.com/2021/04/vietnam-price-indication-for-pepper.html

OUTLOOK ON NEW CROP INDONESIAN PEPPER

First reports tell us that the new crop pepper from Indonesia will start not earlier than the end of June, some 2 months from now.
The Lampung province will start with the harvest for black pepper.
A month later harvesting will be done on the islands of Bangka and Belitung for the famous Muntok white pepper.
As in the 2020 season, also the forecast for the upcoming season is not positive.
Neglectance of pepper gardens, due to low prices, and unfavourable weather conditions during berry setting will decrease the output again.
Exporters are already calculating a loss of yield by 40% for black pepper and even 50% for white pepper. Muntok and Lampung pepper have a vast fanbase of buyers that will support the product despite the surcharges pricewise compared to pepper from other countries of origin.
Looking for offers or more in-depth information, please do not hesitate to contact us.

 

 

VIETNAM PEPPERMARKET UPDATE 19th APRIL 2021 – WEEK 16

 

The pepper market last week had rapid fluctuations during the day.
However, the raw material price has not changed much compared to week 15 (last week) when Vietnam basically finished harvesting and going at the end of the crop 2021.
Market demand is still slow due to many countries being on holiday and the pandemic situation is still complicated.
However, export volume from Vietnam in April is likely to be higher than March and we should not be surprised to reach over 34,000 tons in April.
Vietnam will also have a long holiday from April 30th to May 2nd so manufacturers and exporters are increasing purchasing raw material to ensure April shipment in time.

According to preliminary statistics, Vietnam imported 8,143 tons of pepper in the first quarter from several markets, an increase of 5.8% compared to the same period in 2020. The main reason is that these orders have almost been signed in the third and fourth quarter of last year 2020. In addition, it is noteworthy that the import volume of pepper through officials from Cambodia in the first quarter of 2021 also increased to 238.5%, reaching 606 tons. Maybe in the coming time, imports from other countries will drop sharply because there is no difference in prices between each origin when prices from Vietnam are still at the most competitive. The Covid situation from Cambodia is taking place seriously, so the volume of raw material going through the border with Vietnam will be interrupted.

RISE IN FREIGHT RATES

 

From Aug 2020 freights started to rise in the aftermath of Covid-19. 

The rates were expected to lower in March and they reduced marginally but again in April they have surged and scaled new heights.

Freights from Vietnam/Indonesia to EU main ports: USD 4,000 /20ft and USD 8,000/ 40ft.

Freights from Vietnam/Indonesia to US main ports: USD 6,000 /20ft and USD 11,000/ 40ft.

Freights to EU have risen from USD 80 per Mt to USD 300 per Mt.

Freights to US have risen from USD 150 per Mt to USD 400 per Mt

 

 

IPC - EXPORT OF PEPPER BY SINGAPORE

 

EXPORT OF PEPPER BY SINGAPORE

Singapore, officially the Republic of Singapore, is an island city-state in Southeast Asia. Singapore actively imports pepper from various pepper producing countries for domestic consumption or for re-export.

In 2018, Singapore was reported to have imported a total of 5,781 Mt which 87% of it comprised of whole pepper. In the following year, Singapore's import of pepper decreased by 52%, totaling at 2,753 Mt. In 2020, Singapore was reported to have imported a total of 3,408 Mt of which 1,731 Mt went for re-export purposes. The ratio of Singapore's import and export during 2018 - 2020 were 1.2:1, 1.4:1 and 2:1 respectively. The top five countries of origins for Singapore's pepper in 2020 were reported to be Viet Nam with 1,157 Mt (contributed to 34% of the total pepper imported by Singapore in 2020), Indonesia with 910 Mt (27%), Malaysia with 901 Mt (26%), Brazil with 152 Mt (4%) and Madagascar with 93 Mt (3%).

In 2018, Singapore was reported to have exported a total of 4,807 Mt of pepper which 84% or 4,024 Mt of it comprised of whole pepper and 16% or 783 Mt of it ground pepper. Singapore on average exported a total of 401 Mt per month in 2018 which peaked in May with 699 Mt. The total revenue of Singapore's export of pepper in 2018 was reported to be as high as USD 21.9 Million. Thus, recording an average price of the total pepper exported by Singapore at USD 3,698 per Mt for whole pepper and USD 9,052 per Mt for ground pepper.

Year 2019 saw a decrease in term of quantity of pepper exported by Singapore. Singapore was reported to have exported a total of 2,022 Mt which 97% or 1,963 Mt of it comprised of whole pepper and 3% or 59 Mt of it ground pepper, recording a decrease of 58% when compared to 2018. The reason for the significant drop of export by Singapore in 2019 could be contributed to the big drop in economic activity in the second quarter of the year. The wealthy city state was being hurt by the US-China trade war and was heading for its weakest annual growth since 2009. The average export of pepper by Singapore in 2019 was reported to be 169 Mt per month which peaked in May with 287 Mt. In accordance with decreasing in term of quantity, Singapore's revenue from pepper export was reported with a decrease of 71% as compared to the previous year to a total of USD 6.3 Million. Thus, recording an average price of the total pepper exported by Singapore at USD 3,093 per Mt for whole pepper and USD 4,976 p er Mt for ground pepper or a decrease of 16% and 45% respectively as compared to 2018.

In 2020, Singapore was reported to have exported pepper totaling 1,731 Mt which 92% or 1,597 Mt of it comprised of whole pepper and 8% or 134 Mt of it ground pepper. Thus, recording a decrease of 14% when compared to 2019. In 2020, the total revenue of pepper export by Singapore was reported to have reached USD 5.3 Million, recording a decrease of 15% as compared to 2019. The average price of the total pepper exported by Singapore in 2020 was reported to be USD 3,046 per Mt for whole pepper and USD 3,935 per Mt for ground pepper or a decrease of 2% and 21% respectively as compared to 2019.

Pepper from Singapore is traded worldwide with most of them being Asian countries. In 2020, Singapore's top 5 country destinations for its pepper were reported to be Taiwan with 236 Mt (a decrease of 0.2% as compared to 2019), India with 183 Mt (a decrease of 66%), Viet Nam with 182 Mt (an increase of 130 Mt), United States of America with 154 Mt (a decrease of 28%) and South Africa with 135 Mt (an increase of 89%). The decrease of Singapore's pepper export to India was the result of India shifted to import pepper from origin country such as Brazil (an increase of 21% or 756 Mt as compared to 2019)

. https://edition.cnn.com/2019/08/13/economy/singapore-gdp-recession-trade-war/index.html
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IPC PEPPER MKT REPORT No. 16/21, 12 - 16 April 2021

 

LOCAL MARKET REPORT

As Muslims around the world celebrate Ramadhan amidst the global pandemic of Corona Virus, market showed a mixed response. In local market, Malabar black pepper was reported with 1% deficit when compared to the previous week, averaging at USD 5,166 per Mt. The decrease of India's pepper could be contributed to the weakening of Indian Rupee against the US Dollar (INR 75.05 @ USD 1), recording a 2% depreciation. Indonesia black and white pepper were reported with a 1% and 4% deficit respectively when compared to the previous week, averaging at USD 3,144 per Mt for black pepper and USD 6,015 per Mt for white pepper. The decrease of Indonesian price could be contributed to the weakening of Indonesian Rupiah against the USD Dollar (IDR 14,630 @USD 1), recording a 1% depreciation. It was also reported that the current situation of pepper prices in Bangka Province of Indonesia was more influenced by speculators which possessed more stock as compared to farmers. Malaysia black and white pepp er were reported with an increase of 5% and 3% respectively as compared to the previous week, averaging at USD 2,979 per Mt for black pepper and USD 4,387 per Mt for white pepper. Viet Nam farm gate price of black and white pepper were reported with 2% and 3% deficit respectively as compared to the previous week, averaging at USD 2,926 per Mt for black pepper and USD 4,506 per Mt for white pepper. Furthermore, China white pepper was reported stable and unchanged.

INTERNATIONAL  MARKET REPORT

International market also showed a mixed response as India black pepper was reported with the same 1% deficit when compared to the previous week, averaging at USD 5,433 per Mt. Indonesia black and white pepper were reported with 1% and 4% deficit respectively when compared to the previous week, averaging at USD 3,751 per Mt for black pepper and USD 6,933 per Mt for white pepper. Malaysia black and white pepper were reported stable and unchanged. Contrary with its local price, Viet Nam black pepper 500 g/l, 550 g/l and Viet Nam white pepper were reported with an increase of 1% respectively as opposed to the previous week, averaging at USD 3,635 per Mt, USD 3,675 per Mt and USD 5,370 per Mt respectively. China white pepper was reported stable and unchanged.

 

 

 

VIETNAM SPICES MARKET UPDATE 14th APRIL 2021 – WEEK 15

 PEPPER

 

 

According to VPA statistics, Vietnam exported 31,413 tons of pepper in March, worth 92.7 million USD.
Compared to February 2020, the export volume increased by 133.9%, the value increased by 138.2%.

 In the first 3 months of 2021, Vietnam exported 61,621 tons, worth 180 million USD.
Compared to the same period in 2020, the quantity of exports decrease by 23.4% but the turnover increases by 2.2%.

 The US continues to be the largest pepper import market of Vietnam with the import volume of 13,933 tons, up 0.8% over the same period Followed by the Chinese market imported 11,506 tons, down 2.9%.
Some markets with increased import volume such as Saudi Arabia, Netherlands, UK, Ireland, Canada,…
decreased import volume in Pakistan, India, Germany, Thailand, Philippines, Korea,…
Leading import of white pepper are the Netherlands, America, Germany and China.

 The market for pepper in the past week has taken place slowly as demand is quite low from different markets especially from Europe / America.
Currently, the COVID-19 disease  situation is complicated in many different countries such as EU / INDIA / BRAZIL...  

The freight price continues to increase although the Suez Canal incident has been resolved.
Currently, the freight rate continues to increase and it is very difficult to book container to EU and especially the US routes. ( USA up 3000$ in some port such as New York/Baltimore...

At present, farmers have been offering to sell more raw material to the market, but both buyers and sellers are very cautious.
The EU and US have also shown interest in third & fourth quarter deliveries, but domestic manufacturers and exporters mostly offer prompt shipment. to avoid delays of orders and broken commitments from not reliable farmers / dealers.
Currently, the transaction takes place with a very fast delivery speed.
That's why agents and export / manufacturers lack local liquidity.
Many companies are unable to receive raw material and pay for raw materials in bulk.
Particular have some exporters sold raw material back to the domestic market to take cash (not take profit).
Therefore, the market has had a slight correction and easier to buy this week.

 

 

 

You may be also interested in:

Vietnam Pepper&Spices prices on week 15
https://offers-peppertrade.blogspot.com/2021/04/pepper-spice-prices-vietnam-week-11.html

New crop Brazilian Pink Peppercorns
https://offers-peppertrade.blogspot.com/2021/04/brazilian-pink-pepper-new-crop.html

 

 

IPC PEPPER MKT REPORT No. 15/21, 5 - 9 April 2021

 

LOCAL MARKET REPORT

Market this week showed a rather positive response with only Viet Nam farm gate price was reported with a decrease. In local market, Malabar black pepper was reported with an increase of 3% when compared to the previous week, averaging at USD 5,221 per Mt. Indonesia black and white pepper were reported with an increase of 6% and 4% respectively when compared to the previous week, averaging at USD 3,163 per Mt for black pepper and USD 6,256 per Mt for white pepper. The increase of Indonesian price could be contributed to the high demand despite the limited to none stock in farmer level. Malaysia black and white pepper were also reported with an increase of 6% and 4% respectively as compared to the previous week, averaging at USD 2,845 per Mt for black pepper and USD 4,259 per Mt for white pepper. Viet Nam farm gate price of black and white pepper were reported with 1% and 2% deficit respectively as compared to the previous week, averaging at USD 2,991 per Mt for black pepper and USD 4 ,628 per Mt for white pepper. Furthermore, Sri Lanka black pepper was reported with an increase of 4% as compared to the previous week and was traded at an average of USD 3,418 per Mt. China white pepper was reported stable and unchanged.

INTERNATIONAL MARKET REPORT

International market was reported with a rather positive outlook as India black pepper was reported with the same increase of 3% when compared to the previous week, averaging at USD 5,492 per Mt. Indonesia black and white pepper were reported with an increase of 5% and 4% respectively when compared to the previous week, averaging at USD 3,772 per Mt for black pepper and USD 7,204 per Mt for white pepper. Furthermore, Malaysia black and white pepper, Viet Nam black pepper 500 g/l, 550 g/l and Viet Nam white pepper as well as China white pepper were all reported stable and unchanged.

 

 

RAMADAN MUBARAK

 

PEPPER HARVESTING SEASON IN VIETNAM 2021

 

 

The Vietnamese pepper market has gone through many emotional levels in just a short month.
Through the collection, we would like to send you some quick highlight about the situation of pepper developments in Vietnam from January 1 to March 31, 2021 as follows:

Producers and exporters do not understand what happened within a month when prices rose hot in the middle of the pepper season.
In the past 10 years, it was only in 2011 that the price situation has evolved like 2021 .
Most think that prices will drop when Vietnam is in the peak season in March and
everybody will focus on preparing for full-year orders.
However, the market has grown so fast that many customers have not been able
to buy their expected inventories.

For the most cautious, cannot imagine the price of pepper can increase 42%in just 1 month.
A lot of questions are asked daily which is the main reason:

As for Farmers
• Lost due to poor crop
• Prefer to storing pepper
• Selling other agriculture product instead of pepper
• Price very attractive to storage

Some factors that stimulated many exporters/domestic agents to buy stocks
• China and Domestic speculators buying very aggressively after Lunar New Year.
• Demand coming from Middle East & India for March - April shipment.
• USA customers are more interesting to cover full-year shipments but processors/exporters hesitate to offer further shipments.
• Several exporters are big short and have been buying raw material in secret in order to ensure shipment on time to the buyers.


The hot price increase and one day the increase and decrease amplitude of 15% stimulated many people to participate in speculation.
The rapid increase in prices caused many exporting companies shortage of raw material and many domestic collectors not performing the deliveries as committed, causing the phenomenon of raw materials not being
delivered to the processor.
Therefore, export volume in the first quarter will also decrease with an expected less than 30-35% compared to the same period in 2020.

Many domestic collectors/speculators did not comply with their commitments, causing a serious shortage of raw materials in many times, which
stimulated prices to skyrocket.
Many factors resonate at the same time that makes farmers /speculators have a strong belief that prices will continue to increase in the coming time so they do
not need to sell large quantities when prices are adjusted down.
Despite has poor crop, the cheerful atmosphere has returned in many pepper plantation.
Many farmers actively harvest because prices have met expectations and help farmers feel secure to take care of better pepper.

You may download the full report by clicking here:

https://ptexim.com.vn/en/news/pepper-harvesting-season-in-viet-nam-2021/
 

 

You may be also interested in:
 

New crop Brazilian Pink Peppercorns
https://offers-peppertrade.blogspot.com/2021/04/brazilian-pink-pepper-new-crop.html

Vietnam Pepper&Spices prices on week 13
https://offers-peppertrade.blogspot.com/2021/04/vietnam-pepper-spices-prices-update-5th.html 

 

 

SPICES MARKET UPDATE 5th APRIL 2021 – WEEK 14

 

PEPPER
Last week, pepper prices had mixed daily fluctuations.
However, at the end of the week, pepper prices also increased by 1%.

We would like to send you the chart of price movements of the past week as follows:

Currently, the key material areas of pepper have basically finished harvesting from 85 - 90%.
We will send you the details of the harvest situation within this week.

Farmers / Middleman only offers a very small quantity to cover temporary costs.
The price is attractive so customer / exporters/ speculators… considering to stockpile or buying yearly shipment.
Vietnam's currency in stable trend with USD until second quarter 2021 is foreseen.

 

CASSIA
Northern rainfall does not support cinnamon harvest.
Customer demand very quiet but the price of cassia/cinnamon in general will be stable in this year.

STAR ANISE
Inventory is currently tight while demand is high. Prices are forecast to be stable

TURMERIC
Turmeric demand has increased while stock very tight. Market up significantly.