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HCCP Certified

04.November.2020

“MARKET REPORT”

Syrian Spice Market went Up, because of demand, less offered quantities, and roads closure.

Re. Cumin seeds

Market status: the market stable at high level, as demand of pesticide guaranteed and it’s strong, beside short of the crop,
For offers versus as demands, the demand has continued from local speculators and Turkish speculators, working from Mersin, beside farmers, Syrian individuals, are running away from big inflation happening in Syria because of the fast devaluation of the currency, to safe heaven of spices, especially cumin, which happened as expected from our last report, and they are selling slowly some stocks, so that local offers are so limited, in addition to that, the demand is coming in big time from Europe, and Arabic countries,
Beside We still have the eruption in chain supply, which already exist of electricity, and severe shortage of fuel needed for generators, transportation, and processing.

Price trend: stable,
as since one month price settled at high level, we can’t see any easiness in near future as long as the factors of keeping the prices high continues to stay, and the stocks of Syrian keeps at low volume,
Internationally :
Indian cumin is going up, as China is in a big appetite to purchase,
Afghan cumin is stable and demands Is increasing from Pakistan, and India,
Turkish cumin price is stoned at high level, will be end of June, new crop looks like less than last year crop.

Business environment:
Movement is not normal, as sanctions getting tighter, and war situation still persist in some areas, and government recently added more custom duties, which will add to the cost of export, other regulations are with no change, and Syrian pound now is stable, with bearish tone, petrol shortage is huge, which reflected in increase in transportation cost, beside production cost, higher cost for cleaning sorting and packing, in addition the cost of insurance on the cargo is increased, all ports are working fine, but expected to be slower .

Re. Anise seeds :

Market status :

Market price went up, in sharp increase recently, as demands continue from exporters, speculators, beside farmers who are sitting on stocks for the same reason mentioned of currency devaluation,
For offers versus as demands,
Offers are getting more lower within time, as more than half of the crop is exported, and Demand is there from many places, as Pesticide results looks encouraging , while offers of good quality is difficult to find, as left quantities are limited,
Prices of good quality continue increasing, as expected in our last report, as a few quantities are left, while price of low quality is at a considerable discount, with the recent development it doesn’t look like to ease any time soon,
Still our view that for medium term, the market looks firm, as cargo is less,
Turkish Anise crop quantity is smaller, and prices is still in the high side,

Spanish Anise price stays firm, as last crop was smaller, price is higher,
Business environment :
Movement is not normal, as sanctions getting tighter, and war situation still persist in some areas, and government recently added more custom duties, which will add to the cost of export, other regulations are with no change, and Syrian pound now is stable, with bearish tone, petrol shortage is huge, which reflected in increase in transportation cost, beside production cost, higher cost for cleaning sorting and packing, in addition the cost of insurance on the cargo is increased, all ports are working fine, but expected to be slower.

Re. Coriander seeds :

Market is on the move up, with considerable activity,
demands is there for export, and good pace, from Arabic countries, beside some to far east, and Europe,
Price stable at moderate levels, as the Eastern European coriander is relatively higher, the quantities which were hold in a strong hands, and slipping slowly, as the price went up in their favor.
International market is firm, and prices from India is with firm note ,

RE. Nigella seeds :

Market stable , after recent easiness, the price went up again in full steam, offers and demands is there, but offered quantities is in a strong hands, and whenever price shows relax it goes up again,
still Syrian price is more attractive than other origins, and local speculators are patient, and have a strong appetite for higher prices, even at these levels, as they made money last year as prices went up a staggering 80%,
Price expected to move in the rage of same level, for the medium term, with cautious as everything is possible in this relatively sensitive market.

Re. Caraway:

Market is stable at higher level, demand is a small but also left quantities are limited too.

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