new production has unfortunately brought even higher prices for the moment, with demand extremely high and expected quantities to be 20-30% less. Hopefully some stability will come over the next few months as production continues and stocks are replenished.
New crop is beginning in Guatemala and prices look to remain firm. Expectations are that production will be down 20-30% due to a very dry summer and early picking. Additionally, carryover is nearly non-existent and global demand continues to be high.
Prices continue to escalate. Guatemala’s new crop will not begin until October. Until then there is limited availability and poor quality / yields for the remaining seeds available. There is also concern on new crop output due to challenging weather and conditions of the plants, but it is too early to predict. India’s new production is in process now and prices are at record levels also due to poor weather.
Prices remain firm as poor crops have led to limited quantities.
Both India and Guatemala have reported poor crops, weather related. Expect prices to increase.
The spice market is reporting that the upcoming crop from Guatemala will be 2/3 the volume of last year’s, including carryovers. Extended dry weather has been cited as the reason. We can expect to see prices rise.
The recently completed crop in Guatemala is estimated to be the same size as last year’s. Prices remain stable. India also recently completed an adequate crop though prices have increased slightly.