Copyright © 2022 Mintec Limited
Contents
Herbs & Spices
Pepper, Vanilla, Turmeric & Cumin
34
Vietnamese pepper prices rose in August, with the Mintec Benchmark Prices (MBP) for Vietnamese pepper (550
gram per litre, FOB Vietnam) up 2% m-o-m at USD 3,934/MT. The benchmark fell by 4% y-o-y, with most of this
decline attributed to a downward price trend between November 2021 and July 2022, owing to reduced demand
from China due to its zero-COVID policy. Prices rose in the last week of July and the first half of August, with the
market stimulated by a surge in purchasing activity as exporters speculated on a renewal in buying activity from
China.
The MBP for vanilla was unchanged both m-o-m and y-o-y at USD 250/kg in August, in line with the minimum
export price. Malagasy authorities have recently announced that the floor price of USD 250/kg will be also
maintained for the upcoming export campaign, starting in September.
Turmeric futures on the National Commodity and Derivatives Exchange (NCDEX) in India fell on average by 6% m
-o-m in August, to USD 94/100kg, and were down by 14% y-o-y. In recent weeks, the market sentiment has been
hampered by weak domestic and export demand, alongside ample stocks in destination markets, according to
industry sources in India.
Cumin prices in India strengthened by 3% m-o-m and 52% y-o-y in August, to USD 269/100kg. Prices have been
primarily supported by concerns over a smaller planted area, coupled with erratic weather conditions, which have
further hampered crop prospects. Rains during the new season arrivals led to further price rises.
Black pepper 550g fob VN (MBP) - USD/MT
Aug 20 Nov 20 Feb 21 May 21 Aug 21 Nov 21 Feb 22 May 22 Aug 22
1,400
1,900
2,400
2,900
3,400
3,900
4,400
4,900
0B07 - Pepper blk 550g fob VN (MBP)
Vanilla fob MG - USD/kg
Aug 20 Nov 20 Feb 21 May 21 Aug 21 Nov 21 Feb 22 May 22 Aug 22
0
50
100
150
200
250
300
SP59 - Vanilla ind grd 1 fob MG (MBP)
Turmeric NCDEX IN - USD/100kg
Aug 20 Nov 20 Feb 21 May 21 Aug 21 Nov 21 Feb 22 May 22 Aug 22
40
60
80
100
120
140
160
TUIN - Turmeric fng NCDEX IN
Cumin IN - USD/100kg
Aug 20 Nov 20 Feb 21 May 21 Aug 21 Nov 21 Feb 22 May 22 Aug 22
100
120
140
160
180
200
220
240
260
280
6T03 - Cumin mp Unjha IN