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.

 

 

 

 

 

IPC PEPPER MKT REPORT EXPORT OF PEPPER BY SPAIN

 

EXPORT OF PEPPER BY SPAIN

 

Spain, officially the Kingdom of Spain, is located in Europe with its continental European territory situated on the Iberian Peninsula. Its territory also includes two archipelagoes: the Canary Islands off the coast of Africa, and the Balearic Islands in the Mediterranean Sea. Spain actively imports pepper from various pepper producing countries for domestic consumption or for re-export.

In 2019, Spain was reported to have imported a total of 6,077 Mt which 81% of it comprised of whole pepper. In the following year, Spain's import of pepper increased by 5%, totaling at 6,370 Mt. As of January 2021, Spain was reported to have imported a total of 454 Mt of which 188 Mt went for re-export purposes. The ratio of Spain's import and export during 2019 - January 2021 were 2:1 respectively. The top five countries of origins for Spain's pepper as of January 2021 were reported to be Viet Nam with 192 Mt (contributed to 42% of the total pepper imported by Spain as of January 2021), India with 58 Mt (13%), Netherlands with 44 Mt (10%), Germany with 29 Mt (6.4%) and Belgium with 27 Mt (6%).

In 2019, Spain was reported to have exported a total of 2,991 Mt of pepper which 29% or 877 Mt of it comprised of whole pepper and 71% or 2,115 Mt of it ground pepper. Spain on average exported a total of 249 Mt per month in 2019 which peaked in March with 379 Mt. The total revenue of Spain's export of pepper in 2019 was reported to be as high as USD 11.2 Million. Thus, recording an average price of the total pepper exported by Spain at USD 4,095 per Mt for whole pepper and USD 3,637 per Mt for ground pepper.

Year 2020 saw a slight increase in term of quantity of pepper exported by Spain. Spain was reported to have exported a total of 3,003 Mt which 28% or 856 Mt of it comprised of whole pepper and 72% or 2,148 Mt of it ground pepper, recording an increase of 0.4% when compared to 2019. The average export of pepper by Spain in 2020 was reported to be 250 Mt per month which peaked in November with 368 Mt. In accordance with increasing in term of quantity, Spain's revenue from pepper export was reported with an increase of 13% as compared to the previous year to a total of USD 12.7 Million. Thus, recording an average price of the total pepper exported by Spain at USD 5,460 per Mt for whole pepper and USD 3,759 per Mt for ground pepper or an increase of 33% and 3% respectively as compared to 2019.

As of January 2021, Spain was reported to have exported pepper totaling 188 Mt which 31% or 59 Mt of it comprised of whole pepper and 69% or 129 Mt of it ground pepper. Thus, recording a decrease of 18% when compared to the same period in 2020. As of January 2021, the total revenue of pepper export by Spain was reported to have reached USD 1.0 Million, recording an increase of 33% as compared to the same period in 2020. The average price of the total pepper exported by Spain as of January 2021 was reported to be USD 7,389 per Mt for whole pepper and USD 4,627 per Mt for ground pepper.

Pepper from Spain is traded worldwide with most of them being European countries. As of January 2021, Spain's top 5 country destinations for its pepper were reported to be France with 38 Mt (a decrease of 16% as compared to the same period in 2020), Portugal with 24 Mt (a decrease of 36%), Cuba with 18 Mt (an increase of 11 Mt), Cayman Islands with 17 Mt (2020 n.a) and Belgium with 14 Mt (an increase of 11 Mt). The decrease of Spain's pepper export to Portugal was the result of Portugal shifted to import pepper from France (an increase of 31% or 5 Mt as compared to the same period in 2020).