Black Pepper
Due to a shorter crop in the past decade and supply constraints in the global market place the prices of black pepper oil and oleoresin have increased further. While the Brazilian harvest has started the supply is not expected to be better until next year. In concert, Vietnam & Indonesia are now reluctant to offer pepper even at higher prices. Analysts forecast a shortfall of the Indonesian & Brazilian supply. The Indian crop begins in November. In Sri Lanka limited availability of light berries is estimated to be 50% less than normal due to unfavorable climate. We expect pepper prices to go up further due to lower production and better demand.

Paprika
In the past year the prices have softened but due to the recent weak monsoons have recently pushed the prices steeply higher in recent weeks. Our position is to monitor this closely and wait until the new December to February crop is more certain in India as the stock positions begin to dwindle in India.

Capsicum
Similar to Paprika softer prices from earlier this year are on the rise due to a severe drought in the major producing areas. Like paprika we will watch this over the next few months.

Tumeric
Due to increasing domestic Indian and export demand the prices are moving steeply higher in the past days. It is anticipated that the prices will stay firm until the next crop in March. This years light monsoon season is predicted to adversely affect Turmeric as well.

Ginger
Considerable price increases in the recent months.

Celery Seed
The celery market, unlike others of late, has remained stable. The new crop is in May.

Coriander Seed Oil
After years of dwindling carryover stocks and the past handful of years of shorter crops this oil is expected to not only increase in price but also expected to be in short supply. The reasons: The stricken economy and general lack of interest. The effect will be that the few distillers will produce less. Therefore, we recommend covering your needs now or contracting to insure your annual requirements can be met. The next crop is 10 months away.

Pimento Leaf Oil
Similar to Coriander seed oil the harvest time for Pimento is coming to an end. In Jamaica the interest rates for business is above 20%. Therefore, the distillers will only harvest what in their minds are sold. Currently, the prices are slightly soft but we expect the prices to firm in the near future with limited availability until September 2010.