General Outlook

March 1, 2005

Cumin Seed
A weak market with low demand for the time being which has reflected in a downwards trend in price-levels between the 1500 – 1600 US$ FOB depending on the purity. New crop coming out in July. Syrian origin also at low price-levels. Seems market will stay weak for the time being.

Anise Seed
Stable and firm for good quality grades. We expect prices to remain steady untill new crop in July.

Poppy Seeds
No movement at all in the Blue Poppy trade. A lack of demand has given steady prices with no signs to increase for the moment. New crop poppy seeds available by August.

Fennel Seeds
Steady price levels, no significant changes. Availability of 1st grade nice green seeds will become more difficult. New crop by the end of August.

Sesame Seeds
Firm prices for the typical Turkish Golden Sesame Seeds not to be compared with the cheaper Indian hulled sesame seeds. Crop quantity is low in Turkey and that is the main reason that product availability is getting more difficult later on in the season which is reflecting the price.

Laurel Leaves
Firm and expensive raw material in the local market. Some exporters might offer at lower levels from their stocks, bought at lower levels earlier in the season. Prices for cleaned pressed FAQ and Semi Select material are close or above the US$ 2.000,-- per M/t FOB level.

Oregano
Steady prices and product available. No significant changes to be expected in the coming weeks.

Sage
Premium quality `Salvia Triloba` scarce. Small quantity available in hands of exporters. Will remain at firm levels. New Crop in July.

Sun Dried Tomatoes
We are able to offer different grades from our supplier`s stock. Please contact us for more details.

Capers
Prices have reach the bottom levels nowadays. No further decrease is expected. We expect new crop to be at firmer price levels. With the some rising political tension in the Middle East in countries like Syria and Iran who are one of the largest suppliers of raw material, it is hard to predict how the new crop will develop as from June this year.


Production costs have risen in Turkey strongly and the US$ has strongly weakened against the Euro (€) and mainly the New Tukish Lyra (YTL). The US$ has lost value against the Turkish Lyra with around 14% in the last 4 months. Totally not an advantage for exporters. Today fuel prices in Turkey are extreemly high and seems to be the highest in Europe with around US$ 1.85 per Lt. unleaded fuel. Further if the Turkish Lyra is holding strength against the weak US$ in the months to come towards the new crop, then exporters will have difficulties to lower the prices strongly for new crop items. We`ll have to follow the developments in the 4 months to go more before most new crop product will be available.



Mondial Int'l Agency Ltd.