General Outlook

May 28, 2004

Market for Cumin seeds more strong but this all due to local speculation from both local traders and exporters who are trying to lift the market up in order to create sales before new crop comes out in July. We think that it is all an indication that price-levels will be on lower levels in July when both crop in Turkey and Syria are entering the market. Sales were slow for cumin in the last couple of months and at least in Turkey we are having a 7000 M/t overcarry of cumin seeds. India is moving around the 1500 $ FOB levels to. With all this overcarry available and new crop coming ahead 6 weeks later we do assume that prices will be weaker by end of July / August.

New Crop Oregano available for shipments by the 1st week of August. All looks favourable with good weather conditions. Of course price-levels are strongly depending on buying activity by producers / exporters when raw material is entering the market in 2nd half of July. We do not expect much movements in the coming 6 weeks.

Laurel Leaves new crop entering the market in September / October. We are able to offer limited stock of Hand Selected laurel leaves of good quality. Pressed material is exhausted and quality available is very poor.

Sun Dried Tomatoes drying periode will start after 15th of July untill 1st week of September. New price-levels depending on raw material prices fresh tomatoes in July and the weather conditions during the drying periode.

Please do not hesitate to contact us should you require any more information or firm C + F quotes for above products