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HCCP Certified

26.March.2020

“Market Report “

Spice Market and the Turmoil of Pandemic:
In this time of global crisis, we have to pray, work and hope that everyone stay healthy, beside that we all work together to minimize the affection of the pandemic by keep the work going, which is the financial source of many of the people,
“Stay Home, keep social distance 2 m, wash hands 20 seconds, and shower as often as possible” : those the simple rules, we have to follow to avoid the spread of this Fatal Virus, but we should remember that those simple rules, the cost of it while is affordable for some, but unfortunately it’s not affordable for many, as the people who are living under poor systems, where there is no financial supports from their governments, they will suffer deep poverty and lack of necessities, so it should be accompanied by helping those people to receive their necessities, and that is the duties of societies, and private sectors, beside the governments,
And in our sector farmers considered in majority in the vulnerable segment of society, so they need supports to plant, harvest, control and to keep the chain of supply going of foods to the world, and as traders processes we should do out most to help and keep the cycle of business going,
To go in details in related to our items, cumin, coriander, Anise ,Etc., crops, from Syria, India, Turkey, are in transition phase, i.e. have already either planted waiting for the crop, or harvested, so no immediate direct impact, but the supply chain is irrupted in some areas, because of lock down in those countries India, Syria, and Turkey, so that will give higher volatility for the prices between source and destination, and disturbances of offers and demand, which we should all together work to minimize the impact of it to the sector.

Re. Cumin seeds
The market held at the same level after moved down last month, and stay firm at the new level, and stable, as the left quantities in Syria are indeed of a small quantity, and good quality of cumin is difficult to find, but market in general is
slow because of the partial lock down, happening in Syria, and many destination market,
Demands continue in slower pace, continues from exporters to European market mainly and also to Turkey, and some Arabic countries, but the left small quantities are held by strong hands, and some local traders thinking that recent developments against COVID -19 may give a bullish trend for the market, as there will be uncertainty of the future crop, and that the panic of short supply due to the global crisis;
In reality to have one container now, we need to spend days in searching to have one, not to mention the eruption already exist of electricity, and shortage of fuel needed for generators, we have to say that: Unfortunately in Syria like the situation of war was not enough to have this pandemic, which pushes the situation to be worse, for the people and refugees around,
Price may have different courses, we have never seen such situation before so, we can’t see where the prices may be heading,
Indian cumin is sideway, at lower prices, and the crop is already harvested, and it’s good big crop, and china isn’t acting much yet, even the situation is getting better in their battle against the virus, but Europe is under heavy pressure,
Turkish cumin price is stoned at high level, and last crop was less than usual, quantities left are there, and we are waiting for the news of their new crop.
Planted areas of cumin this year is less than last year, as one third of the areas hasn’t been planted due to the war condition over there, but the development of the crop is Good, weather so far is favorable for the cumin, rain is good, and the expected crop will be harvested in May as usual, this year because of the pandemic the looking after the crop may be disturbed, depending on the scale of the lockdown, beside the course of war in the coming two months, in anyway, we are expecting the cumin will be successful in the planted areas,
Movement is limited, as the government implemented, partial lockdown and expected to have a complete lockdown, war is less intensive, because of the calling for seize fire against Covid 19, and government export regulations are with no change, but working hours in the port is less, and Syrian pound now is fluctuating heavily with bearish tone, petrol shortage is there, which reflected in
increase in transportation cost, beside higher cost for cleaning sorting and packing, in addition the cost of insurance for the cargo is increased, all ports are working fine, but expected to be slower.
Re. Anise seeds:
Market is settled now, after the sharp increase last month and left quantities are limited but available, not scarcer as cumin, but quantities available of good quality are difficult to find,
Demands is average, while offers of good quality are difficult to find, carry over is getting smaller,
Prices of good quality is high, while price of low quality is at a considerable discount, with consideration of the currency devaluation,
For medium term, the market looks sideway, as cargo is really less, we don’t know how the demand will go with the recent development of the pandemic,
Turkish Anise crop quantity is smaller, and prices are still in the high side,
Spanish Anise price stays firm, as last crop was smaller, price is higher,
The planted areas are less than last year because of many areas got heavy rain at early developing time of the plant, therefor many farmers switched their plantation to other crops, and so far the news of Anise crop isn’t bright, anyway, we are watching closely the situation, also under the going development of Covid 19 partial close.
Movement is limited, as the government implemented, partial lockdown and expected to have a complete lockdown, war is less intensive, because of the calling for seize fire against Covid 19, and government export regulations are with no change, but working hours in the port is less, and Syrian pound now is fluctuating heavily with bearish tone, petrol shortage is there, which reflected in increase in transportation cost, beside 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 soft with low activity,
Demands are there for export, but in slower pace, from Arabic countries, beside some to Far East,
Price went down to attractive levels, and it’s now stable, as the Eastern European coriander is lower, the quantities which were held in a strong hands, now they are releasing it, as the price behavior didn’t go as they wanted, so now the cargo is found at good level, if the quality is approved.
International market is stable, and prices from India are stable, while there was only 60-70% crop this year of last year crop, which was also smaller, carry over was still there, but offers of Russian and Ukrainian corianders is effecting the market down,
Re. Nigella seeds:
Market is stable after the sharp increase happened in last month, demands are there, but left quantities of the crop are small,
still Syrian price is more attractive than other origins, and local speculators have a strong appetite for this product, which goes on and off, based on that plantation this year is really limited of small quantity,
Price is expected to stay at the same level, for the medium term,
New crop:

The planted areas are less than last year, as the farmers wanted to grow more profitable crops with higher income, and the developing of the planted is going well,
Re. Caraway:
Market is stable at low level, demand is a small but also left quantities are limited too.

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