Demand remains strong for spices despite widespread price rises following poor crops in key producing countries, suggesting the value of trading will rise even higher in 2008. HIGH prices following poor crops, the weak US dollar and strong demand, particularly for production of oleoresins, sent the value of global spice trading through the $3bn barrier in 2007. These attractive fundamentals are likely to encourage greater competition in the market in coming years, but there is good reason for exporters to be bullish. According to official customs statistics for 90 major importing countries, world trade in spices hit $2.7bn in 2006, having grown by 5.7% from a year earlier and 18.5% since 2001. In reality, if figures for some key countries in the Middle East and Asia were available, the figure would be somewhat higher... Read More