The United States continues to be the largest importer from India (21 per cent), followed byMalaysia (seven per cent), UAE (six per cent) and UK (five per cent).
.Kurien-The chairman of SPICES BOARD said in the export basket of spices and spice products, spice oils and oleoresins, including mint products such as mint oils, menthol crystals, and menthol powder contributed 40 per cent of the total export earnings.
“This year, a large Indonesian speculator of coffee and pepper failed and his stocks are being sold by the banks to importers for quick disposal. Some overseas brokers said “we do not expect large quantities of SPICES to be imported into the US during Mar/Apr/May, certainly not the 9,000 tonnes imported between March and June 2008.
We believe the quantities being offered are between 2,000-3,000 tonnes maximum and are not being sold in any large quantities.”
Buyers already long at high prices and poor economic prospects for the coming months will wind down their inventories and then buy as needed from either Vietnam, India or Indonesia whichever origin is most attractive, they said.
“Most buyers are covered through March only so we do expect a pick up of demand during end Feb/March but as we said before buyers are cautious at best.”
.Kurien-The chairman of SPICES BOARD said in the export basket of spices and spice products, spice oils and oleoresins, including mint products such as mint oils, menthol crystals, and menthol powder contributed 40 per cent of the total export earnings.
“This year, a large Indonesian speculator of coffee and pepper failed and his stocks are being sold by the banks to importers for quick disposal. Some overseas brokers said “we do not expect large quantities of SPICES to be imported into the US during Mar/Apr/May, certainly not the 9,000 tonnes imported between March and June 2008.
We believe the quantities being offered are between 2,000-3,000 tonnes maximum and are not being sold in any large quantities.”
Buyers already long at high prices and poor economic prospects for the coming months will wind down their inventories and then buy as needed from either Vietnam, India or Indonesia whichever origin is most attractive, they said.
“Most buyers are covered through March only so we do expect a pick up of demand during end Feb/March but as we said before buyers are cautious at best.”