General Outlook

May 24, 2005

Cumin Seeds
Prices somewhat weaker as expectations are good for the Syrian crop which is estimated on around 40.000 M/t. We expect a weak start for new crop prices. Turkey will again have difficulties to compete with Syrian origin. New crop will enter the market during the month of July. In August we might have a better picture what prices will do. For the time being we advise buyers to buy what is required but no need to make stocks.

Anise Seeds
Firm since last two weeks but steady for the moment. New Turkish crop available by 2nd half of July. Especially domestic demand in Turkey will be a main factor what the new crop prices will be in July. It is hard to predict for the moment.

Poppy Seeds
Steady levels and Blue Poppy has not moved very much this season and constantly between 1450 – 1550 FOB levels. Still overcarry of old crop and with new crop in August we do not expect much changes although largely depending on crop results in Easter European countries.

Fennel Seeds
Steady, no significant changes. New Crop by end of August.

Laurel Leaves
Unchanged. Prices will stay at these levels untill new crop Sepember 2005 comes out. We do not expect much lower prices for new crop as demand from the far East is high and increased strongly for FAQ and Semi Select pressed material.

Oregano
Exporters are selling their last stocks at often reduced prices as new crop is coming near in July. Expectations are good for new crop. New crop prices might be slightly higher comparing with the above quotes. We advise buyers to purchase what is needed for the moment and to cover larger quantity contracts by 2nd half of August / September when new crop prices will have settled down more.

Sage
Limited stocks available for 1st grade material. New crop 2nd half of July. Demand is often high for `Turkish Salvia Triloba`. We do again expect a firm market for Sage with the new crop will levels being around the US$ 2.500 FOB level for 1st grade material V.O. +/- 1.5%.

Sun Dried Tomatoes
New crop drying will start around 15th of July. Price developments often strongly depending on weather conditions during the drying periode of July / August and raw material prices. Further the price for this intensive labour product might be effected by higher labour costs. Large quantities should be contracted before drying season especially when a specific specification regarding moisture, salt and sulphur level is required. Please note that our supplier is ISO / HACCP / BRC and Kosher certified.


Please contact us should you have any questions or additional info regarding above items.

Mondial Int'l Agency Ltd.