Palm Oil Futures
Palm oil futures closed lower at the midday close following lower Asian equity and crude oil markets as well as persistent concerns over Euro zone debt concerns. Trading is relatively quiet this morning ahead of key export and production data due in the coming days. Some additional pressure is also coming from some easing concerns over weather conditions in parts of Malaysia. The market closed higher on Friday (up 15-21 ringgits) after the Malaysian Metrological Department raised its heavy rain warning for parts of Sarawak, a major palm oil producing state, increased concerns over a further fall in production this month. Some traders are now predicting that December palm oil production could fall by 7-9% compared to earlier estimates that production could fall as much as 15% to 1.39 million tonnes. End of December stocks are seen falling 5-6% to around 1.95-1.97 million tonnes, from 2.07 million at the end of November. At the same time demand is seen rising as soyoil’s premium to palm is rising due to concerns over lower production in South America.

Soybean futures
Soybean and soyoil futures closed lower on Friday (with soyoil futures sharply lower) as traders reduced some of their exposure in the absence of any new supportive fundamental news with some weather forecasts calling for rain in dry parts of Argentina this week. The market was seen as overbought after the market rallied recently over the potential for a La Nina weather pattern producing dry weather conditions in South America with hot and dry weather conditions encouraging traders to add a risk premium to the market. Some additional pressure also came from a higher Dollar (making US commodities more expensive) and weak export data. The USDA weekly export report showed soybean sales at 281,300 tonnes, well below market estimates for 400,000 to 600,000 tonnes. The electronic overnight market is trading higher this morning with soybeans up 7¾ to 10 cents and soyoil up 66-70 points on renewed weather concerns in Argentina with traders also positioning themselves ahead of the monthly supply and demand report from the USDA. Although there are no major changes expected for the US there are ideas that South American soybean production could be lowered due to less favourable weather conditions.

with thanks from Gary Lewis from Silbury, to contact please  email garylewis@silbury.co.uk

Basil

Coriander

Oregano

Cloves

Rosemary

Sage

Spices – Price Trends
Up to end of September 2011

Cinnamon

Cumin

Garlic

Ginger

Nutmeg

Onion

Paprika

Black Pepper

White Pepper

Tarragon

Herbs & Spices
Factors Affecting Price Changes

PEPPER
The pepper price has increased dramatically due to the shortage from origin. The pepper vines were suffering from disease earlier this year and then we have seen heavy rainfall in Asia from September onwards, which has resulted in a severe lack of raw material, and sellers refusing to release stock unless these higher prices are paid.

PAPRIKA
Good quality paprika from Spain again has been short so we have seen a slight price increase. Logistical problems are not helping the exportation of cumin from Syria into Turkey, which has led to an increase in the price.

CHILLI
Aflatoxin free chilli from India has again been difficult to find, which has forced the price up to high levels.

TURMERIC
Turmeric has settled down from the record price levels seen in 2010, but still has somewhere to go to reach the levels of 2009. At one stage it was five times higher than in 2009.

GARLIC
The price of garlic has eased back, but new environmental laws preventing the use of water from rivers has meant the use of added manual labour, and in turn, an increase in the price.

GINGER
At the end of 2010, ginger from India became very short and the domestic market consumed most of the production. Nigerian and Chinese quality is very unreliable, hence the 50% rise in price.

It’s all about Quality as new NFFF Fish and Chip Quality Award promotes the best in the UK.

The ‘NFFF Fish & Chip Quality Award’ was officially launched in January 2011, and now halfway through the year has already been presented to over 70 high flying shops across the country with a wave of media coverage generating free publicity and increased sales for the shops achieving this honour.

The scheme has been designed to achieve a balance between good quality products, clean hygienic premises, high standards of shop appearance and highly trained and competent managers and staff. It’s open to all fish and chip shop businesses that operate within the UK and is the perfect way to help improve business, keep abreast of the current food hygiene laws and stay one step ahead of the rest of the fish and chip competition.

The re-launched scheme doesn’t use a grading system; there is a simple PASS or FAIL and as the quality award is all about raising industry standards, the minimum pass benchmark has been set at the 4 star level of the previous Seafish award.

The NFFF scheme puts more emphasis on the quality of the product and less focus on the premises than the previous scheme. Although cleanliness and hygiene remains high on the agenda, applicants won’t need to have the fabulous new range or a refit to ensure a pass.

Gregg Howard, NFFF President, comments, “We have been delighted with the response so far.  From personal experience, being an award holder acts as great PR and will pay for itself in the first few weeks.  We are helping the newly awarded shops get press releases and coverage into the local media and through what is effectively free advertising, the Quality Award will pay for itself in uptake and increased footfall in no time.  It’s a win, win situation for the industry.”

So are you ready to join Britain’s best?

If you consider that your business produces a first class product, delivered by well trained staff offering excellent customer service working in an excellent hygienic environment, then the NFFF want to hear from you!

The scheme award lasts for two years at a cost of £350 (plus VAT) and NFFF members are entitled to a discount of £50. For more details please contact the NFFF offices on 0113 230 7044 and speak to Karen Clark, or visit the website at www.qualityfishandchips.co.uk