Hereby we share with you our latest update about the pumpkin and sunflower market.

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1 Dear client, Hereby we share with you our latest update about the pumpkin and sunflower market. If you have any questions or interests regarding our market information you can contact us through our contact details below. Many thanks for your feedback and interest to cooperate with us. PUMPKIN Market China The market has been very stressful the last months. Most of this heavy stress/increase is based on the lower planting areas in origin for the next crop. Besides that, there were also some disappointing weather conditions, but by the end of the day it did not bring any real damage to the crop. This was more an extra reason for new (negative) crop speculations. There has been a run on the GWS kernels during the last months There really has been a run on the GWS kernels the last months and therefore it is difficult to buy this material right now. Current crop of GWS is almost sold out. For new crop, everybody is waiting to quote. Processors are seeking right now for the correct price direction. Today we see the market around USD 3400 FOB for new crop GWS AA. We indicate GWS A around USD 3000 FOB and shine Skin A at USD for 2017 crop.

2 We won t be surprised if the pumpkin market will stress further during the end of the year. Especially because many European buyers want their new crop material asap in their warehouse. We won t be surprised if the pumpkin market will stress further during the end of the year They have been waiting with buying 2016 crop during the last weeks and taking spot material to fill up their gaps. Due this high interest for the new crop, we see no reason for decrease on a short period. October and November will be simply very busy and manufactories will work on full capacity. We believe that there is a good chance we reach levels of USD 3800 FOB for GWS AA and USD 3200 for GWS A until the end of Is the market overreacting? Yes because new crop is not out of the ground and we still do not have the real facts about the quality and quantities (Therefore, not many processors like to offer now). No because the whole situation is unsure and all indications are telling that the quantities will be less. Besides that, the market has shown that there is a very high demand when the market is moving up. There is simply a high interest for pumpkin beside the export also for domestic use. Spot material is sometimes offered at even more competitive levels

3 These days there is some difference between spot market prices and origin prices. As prices in origin has been rising so fast, spot material is sometimes offered at even more competitive levels (read old contact material) then shipments from origin. These quantities are limited and rising on the same flow as the origin prices. I expect that this difference will soon be gone when new crop arrives. All cheap contracts disappeared. Crop development China So far, the condition of the crop is very good and the yield will be higher than last year. For example last year farmers harvested about kgs kernels from one arce. They expect this year around kgs kernels from one arce. So totally, quantities will be lower but the yield expectations are better. Over all we can say for sure that, the total quantities will be lower of the 2017 harvest. Plantings Shine Skin pumpkins.

4 GWS pumpkins crop 2017 last week. Shine Skin pumpkin crop 2017 last week. Advice and expectations. As we expect the market stays difficult during the next months we advise to make sure you cover your needs for 2017 crop on time. October and November will be extremely busy as the whole world wants their new fresh pumpkin seeds asap. For your needs during September and early October we advise to buy hand to mouth from the spot market as there is still a quite good availability of the 2016 crop in Europe. Please we aware that the spot material keeps increasing almost every day. Local stocks // Offers Chinese pumpkin GWS grade AA crop 2016 at USD 3295 FCA Holland Shine Skin A heat-treated crop 2016 at USD 2465 FCA Holland GWS grade AA crop 2017 (new crop!) USD 3545 FCA ( available during October/November)

5 SUNFLOWER Market East Europe All processors are preparing their facilities for the next crop and start buying raw seeds already. Some processors use this time also to improve their production lines and to install new machines. However, the focus right now is on the new crop. In the Southern of Bulgaria, they recently started harvesting. Currently they are also starting in the Northern part. Processors already talking about some small delays because of some heavy rainfall during the last days. So far, the weather has been very favorable for the development of the crop. We see current ex works prices for new crop around EUR 600 ex works. Prices can fluctuate a bit, depending on the quality and size of the kernels. September is always a very busy period so if you are in need of goods, please be aware of this. Kindest regards, Paul, Nurcan and Mark Trade department Aldebaran Commodities B.V. Rotterdam The Netherlands Direct (Paul) Direct (Nurcan) Direct (Mark) trade@aldebaran.nl Please check our website for our weekly market reports