As we head further into summer, key herb and spice ingredients are ready to harvest, giving us an indication as to volumes and pricing for 2024. Our Category Manager, Neil Burton, has extensive knowledge of the market across multiple origins and has offered a brief overview of what to expect.
Key highlights for the upcoming season are as below, but for more information, click here to download the full Herbs and Spices Market report.Â
Oregano Market Report
Indicative Pricing: £5.50/kg
- Lack of rain in winter has stunted plant growth.
- Harvest volumes were significantly lower than those of the previous 2 seasons.
- Est crop size of 13,000- 15,000MT of fresh raw material.
- Overall volume is short of global demand.
- European PA compliance ration of 2024 summer season is unclear.
- Estimate bullish and tight oregano market for 2024 summer crop.
View full Herbs and Spices Report Here >>
Pepper Market Report
Indicative Pricing: White Pepper £10.00/kg
Cracked, various mesh sizes £8.50/kg
Ground Black Pepper £6.95/kg
- Global production is expected to decrease to c. 442KMT this season.
- New plantings will take time to come to fruition.
- Competing crops like coffee and durian are very profitable, undermining the incentive to plant pepper.
- Overall stocks are estimated to reach c. 433KMT, well below yearly global demand.
View full Herbs and Spices Report Here >>
Paprika Market Report
Indicative Pricing: Sweet Paprika 60 Asta £3.25/kg
- Market is stable and prices are expected to remain at current levels throughout 2024.
View full Herbs and Spices Report Here >>
Sage Market Report
Indicative Pricing: £4.75/kg
- As with oregano, unfavourable rain regime has led to a sharp drop in 2024 summer sage crop in Turkey.
- We are now forecasting a drop down to 1,100-1,300 MT of raw material.
- The EU PA compliance ratio is unknown, further complicating the overall picture.
- We are estimating new season to start without carryover, and supply is likely to be on par with demand.
View full Herbs and Spices Report Here >>
Thyme Leaves Market Report
Indicative Pricing: £3.90/kg
- In Morocco, collection has been shifting to Rosemary over the last few years.
- There has been very limited, restricted availability of Moroccan thyme for the last 2-3 years.
View full Herbs and Spices Report Here >>
Rosemary Leaves Market Report
Indicative Pricing: £3.75/kg
- Lack of Moroccan supply and continued high pricing continue to affect the market.
- Recent updates at ESA convention in Spain reported a short crop by about 30%.
- Cutting licenses were limited by Moroccan authorities, further restricting availability.
- In terms of quality, the material remains good, without major problems.
View full Herbs and Spices Report Here >>
Cumin Seed Market Report
Indicative Pricing: £4.85 per kilo for IPM grade, down from £9.00 per kilo in 2023
- Turkish cumin harvest is now expected to make a comeback from the historic low volumes of the past 5 years
- Forecasted 8,000-10,000 MT of raw material for summer 2024
- In Syria and Afghanistan, crop is once again expected to be sizeable.
- Indian harvest is reported to be very sizeable as farmers switched from coriander and fenugreek to cumin.
- Overall scenario for cumin appears to be stable for the short term.
View full Herbs and Spices Report Here >>
*All prices are indicative and based on stock availability, on a collection basis from our warehouse.
Neil has extensive knowledge of the herb and spice market across multiple origins. He is always happy to share his insight and provide updates on the latest market developments. Please get in touch with the team if you would like to talk about herbs and spices, by phoning 01386 961555 or email neil.burton@brusco.co.uk
