Market Report October 2019

The Market in General

Around the Mediterranean an overall good crop season is coming to an end. The rather gloomy global outlook – politically as well as economically – has not shown much affect yet: "Business as usual". The relevant currency ratios have not shown much fluctuation during the past few months and ocean freight rates continue to be favourable.

Market Info and Recommendations

Tuna: Despite the ongoing fishing restrictions the market stayed at a rather low price level, currently skipjack is traded at approx. USD 1.200/t in Bangkok. The second "fishing veda", laying-up the other half of the fishing fleet in the East Pacific, will start soon on November 9th lasting until January 19th. We expect prices to move up in the near future and thus do recommend covering requirements well into next year. FAD-free catch from origins that are exempted from EU duty as well as MSC-certified fish and also tuna flakes have to be secured well in advance.

Pineapple: The winter crop in Thailand has started at a slow pace; deliveries of raw material are small and priced at a "normal" 8 Baht/kg. The total output in Thailand will reach a "historical" low for 2019, a result of the drought during the first half, but mainly a consequence of the ruinous over-supply in 2018. For Kenia and the Philippines, the situation is quite similar. We expect demand to return soon and do recommend  covering well into 2020 now as the current price level is still quite reasonable – the cycle will continue!

Figs, dried: A normal yield but of very good quality from this years crop in Turkey. Good volumes are available in the medium sizes 4/5/6, smaller and bigger calibres however are quite reduced and prices already moving up. Cheaper cuts (halves and quarters) are likewise in short supply and are priced higher than last year.

Tomato Products: Except for the North of Italy, a sunny September has brought the season in Southern Europe to a successful end. All origins could improve the volume compared to 2018. Worldwide the total tomato output for  processing is expected to reach 36.3 m tons (+ 1.5 m tons). The higher price level demanded by suppliers this year seems to be well established now. Additional quantities of standard specifications should still be available into next year. The outcome for sun-dried tomatoes in Turkey is quite satisfactory. Prices however continue to be firm as cost have gone up substantially (inflation of approx. 15%) and the Turkish Lira has been relatively stable lately and even appreciated against the Euro and US Dollar compared to last year.

Peppers/Peperoni: The harvest is still underway, probably even until the end of October, depending on the arrival of the first frost. Capia is giving reason for concern as the supply is scarce and prices continue climbing. Local demand is up both for fresh consumption and for pepper paste and additionally rising cost plus a relatively stable Turkish Lira are causing this increase. The situation for red, mild peperoni is quite
tight as well. We are on the spot with our Izmir team and also active in other origins, e. g. Egypt. Please check your requirements now until September 2020 and consult with us!

Sweet corn: A drought at first and flooding later have caused serious crop failures in Thailand during the peak months of August and September. Currently all attention is needed to safeguard a continuous supply. We have taken precautions and recommend urgently discussing requirements all the way until next summer.

Capers: As expected this year’s crop was disappointing and supply will be tight this season. Especially in Morocco, being the world's number one source, it was too cold and dry for too long. Small calibres (lilliput, non pareilles, surfines) are particularly scarce, there is no carry-over and we expect the supply to be about 40% short. The situation is slightly less difficult for bigger sizes; however, the price level is clearly up for all qualities. Make sure to secure supply!

Tamarind juice concentrate: We offer this unique flavorizer in clean label quality, packed in 25 kg drums, used in e.g. Asia cuisine, sauces and condiments. Please ask us for a sample.

Frozen avocado: We are now also offering deep frozen avocado pulp, manufactured with the HPP method protecting the color and slowing down oxidation – please note the info

Henry Lamotte Gida, Izmir: With many of our Turkish friends we had the pleasure to celebrate the 25th anniversary of our company in Izmir! – "Tebrik ve Tessekür ederiz!"

Please visit us : anuga 2019

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Issued: 07 October 2019

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New! Frozen Avocado Pulp