Market updates on edible nuts with up-to-date price trends
Nuts
Aug 4, 2021

Cashews: RCN supplies are not the issue

REUS/HANOI/NEW DELHI. The International Nut and Dried Fruit Council (INC) reckons that global cashew production will be similar in size to the current season in 2021/2022. Drought will, however, partly impact production in Africa. Prices have , meanwhile, turned in different directions in Europe and in India.
Nuts
Aug 3, 2021

Almonds: exports top expectations

MADRID/SACRAMENTO. Exports in May have taken Spain by surprise. Issue is that more almonds were shipped overseas than anticipated. The strong export season in the US also has its downsides as market players are now voicing concerns that carry-over supplies will not be able to meet demand until the new crop arrives.
Nuts
Aug 2, 2021

Macadamias: production estimates slashed for Australia

REUS/PRETORIA. While the International Nut and Dried Fruit Council (INC) still reckoned that Australia would become the world's leading producer for macadamias in March, things have changed now. Issue is that adverse weather conditions have impacted production here. Global production estimates have also been revised downwards.
Nuts
Aug 2, 2021

Brazil nuts: production declines send prices flying

REUS. Prices for Brazil nuts have been on the rise for months. The International Nut and Dried Fruit Council (INC) now estimates that global production is set to decline by more than 17% in 2021/2022. Prospects are anything but encouraging in Bolivia and in Brazil at present. In Peru the situation is, however, entirely different.
Nuts
Aug 2, 2021

Hazelnuts: Ferrero about to set course for new season

ORDU. While President Erdogan is expected to announce the TMO bid on Tuesday or on Wednesday, traders point out that this is not quite as important as Ferrero’s response. Large exporters in Turkey may incur heavy losses. That is if the lira retains its new found strength. Demand in Europe is still frustratingly low.
Nuts
Jul 29, 2021

Cashews: high freight costs raise some doubts

HANOI. The container shortage has driven up freight charges massively in recent months. In Vietnam, there are now initial doubts whether price increases to this extent are justified.
Nuts
Jul 28, 2021

Desiccated coconuts: all bad things come in threes

MANILA. In the Philippines, producers are facing rising coronavirus case numbers on the one hand, and the difficulties caused by the typhoon season on the other hand. To make the disaster complete, freight costs have reached a record high that could last until 2022.
Nuts
Jul 27, 2021

Pistachios: negative inventory sparks confusion

TEHRAN/SACRAMENTO. Although Iran’s exports for the current season are 63% up on last year through to 21 June, they fall short of US exports. The Iran Pistachio Association has, in addition, reported a slip. Issue is that ending inventories for 2020/2021 range at an impossible -5,600 mt, which cannot be accounted for unless production estimates are revised. This is exactly what the association intends to do in October.
Nuts
Jul 26, 2021

Almonds: Spain should take advantage of its position

MADRID/SACRAMENTO. During the 5th Meeting of the Spanish Almond Industry, around 150 representatives of the sector met to discuss current issues. Meanwhile, the drought in the USA and the general prospect of declining production figures in important growing countries are causing almond prices to rise.
Nuts
Jul 26, 2021

Hazelnuts: raised eyebrows over prices

ORDU. Turkey is back again this week with President Erdogan expected to announce the TMO bid for hazelnuts anytime soon. Traders reckon that Erdogan will try very hard to avoid trouble. Buyers are highly irritated over the prices for the new crop. On top of this, not all news on this year’s crop is good.
Nuts
Jul 26, 2021

Walnuts: stocks to melt away

REUS. The International Nut and Dried Fruit Council anticipates an 85% slump in end-of-season stocks in 2021/2022. This is mainly driven by China's below-average carry-over stocks. While global inshell walnut production will only range nominally higher than in 2020/2021 at 2.31 million mt, consumption is expected to rise by 9% to 2.46 million mt. Spot market prices in Europe are expected to take a jump at the start of the season.
Nuts
Jul 21, 2021

Pine nuts: China's shocking dependency

BEIJING/REUS. The pandemic has disrupted supply chains and highlighted incremental problems. Pine nuts are no exception to this. The market was, however, stunned to find out to what extent China depends on external raw material supplies. China's production consequently fell well short of expectations in the current season due to supply chain disruptions. Production estimates have now been slashed by nearly 50%. Things are, however, expected to improve in 2021/2022.
Nuts
Jul 19, 2021

Hazelnuts: with pomp and circumstance

ORDU. President Recep Tayyip Erdoğan is expected to announce the TMO bid for hazelnuts with pomp and circumstance in Giresun next week. Although Turkey is mainly closed for Eid this week, the central bank has caused some commotion in the market by keeping the key interest rate unchanged at 19% - quite against Erdogan’s wishes. This move has certainly taken analysts by surprise. Suppliers are wondering in how far the central bank chief will be able to maintain his independence.
Nuts
Jul 19, 2021

Pistachios: traders refute INC assessment

TEHRAN/REUS. Traders are highly concerned over Iran’s ability to compete in the international pistachio market. Although recently issued export data was rather encouraging, frost and extreme heat will certainly impact this year’s production. On top of this, farmers are confronted with several problems. Local traders very much contradict the International Nut and Dried Fruit Council’s (INC) optimistic outlook.
Nuts
Jul 15, 2021

Pecans: high buying interest motivates growers

ATLANTA. Year-on-year, US pecan shipments rose by more than 26% during the first nine months of the season. This is motivating farmers to increase acreage to meet the high demand.
Nuts
Jul 14, 2021

Walnuts: traders demand surcharges for the new crop

SACRAMENTO. Some US walnut varieties will be offered with a noticeable surcharge at the beginning of the season. Demand for these products is high, while at the same the crop volume expected to decline.
Nuts
Jul 13, 2021

Almonds: US production estimate cut by 13%

MADRID/SACRAMENTO. The 2021 objective report for almonds in California came with a bang on Monday. While the National Agricultural Statistics Service (NASS) still anticipated a record production of 3.2 billion lbs in May, this figure has now been slashed to 2.8 billion lbs. This estimate, however, raises some questions.
Nuts
Jul 12, 2021

Hazelnuts: new estimate is a far cry from market expectations

ORDU. Although it is normal for production estimates to differ in Turkey’s hazelnut market, the Ministry of Agriculture’s recent estimate is a far cry from the figure anticipated by the Exporters Union. While the exporters reckon that this year’s production will range at 800,000 mt, the ministry has issud a far lower estimate of c 686,000 mt. Problem is that the market is not used to such a large discrepancy. Experienced suppliers have responded swiftly.
Nuts
Jul 8, 2021

Cashews: Vietnam's producers lose out

HANOI. New statistics show that Vietnam's export volume increased by 11% in the first half of 2021, while the export value did not even increase by 1.5%. According to experts, this is because other parts of the value chain are making the real gains.
Nuts
Jul 7, 2021

Almonds: alarm bells sounded over production in Spain

MADRID/SACRAMENTO. Official almond production estimates have been called into question in Spain. Issue is that the National Farmers and Stockbreeders Union anticipates a much smaller production this year. Things may also not be quite as encouraging in California.
Nuts
Jul 5, 2021

Pecans: nuts are falling during June Drop

ATLANTA. Just like every year around this time, pecan trees in the southeastern USA are starting to thin out their clusters - growers refer to this as the "June Drop". Cold storage stocks are down year-on-year.
Nuts
Jul 5, 2021

Macadamias: preliminary assessment of crop losses

CANBERRA/PRETORIA. The Australian Macadamia Society (AMS) has revised its forecast for the Australian macadamia production in 2021 downwards by 4.5%. The world crop is also expected to be lower in 2021/2022.
Nuts
Jul 5, 2021

Dessicated coconuts: typhoon season may spell disaster

MANILA/COLOMBO. Delivery and production delays are still rampant in the coconut producing countries in the Pacific. They are also causing the supply squeeze in Europe to get worse. Much will, in addition, depend on the approaching typhoon season. Spot market prices have, however, taken a surprising turn in Europe.
Nuts
Jul 5, 2021

Hazelnuts: market in waiting mode

ORDU. As the TMO is still to issue a bid price for hazelnuts market players prefer to play it safe. Guess it that prices will range higher since the state-run organisation raised the support price for tea grown in the Black Region by 18%. Ferrero’s response will also prove decisive.
Pulses
Jun 30, 2021

Peanuts: China expects significant increase in production

BEIJING/NEW DELHI. While China is expecting a higher crop than last year due to its expanded acreage, the omens in India are quite different. Here, hopes are pinned on peanut oil exports.
Nuts
Jun 29, 2021

Pecans: US exports to Mexico drop rapidly

ATLANTA. The USA has exported large quantities of raw pecans to Mexico in recent years - but one should take a closer look at this data. Since this season, there have been significant declines in exports.
Nuts
Jun 29, 2021

Almonds: farmers forced to cut down trees

MADRID/SACRAMENTO. California's drought will not only impact this year's almond production but also next year's. Farmers are determined to save their orchards. Some have taken drastic measures and are prepared to invest heavily. Exports in Spain have taken a surprising turn.
Nuts
Jun 28, 2021

Cashews: Vietnam about to face a raw material problem

HANOI. As African exporting countries increasingly aim to process the RCN harvested there themselves, raw nut shipments to Vietnam will decrease in the coming years. The country itself will hardly be able to compensate for this deficit.
Nuts
Jun 28, 2021

Hazelnuts: tough decisions

ORDU. Local reports over shrubs losing large amounts of hazelnuts in Turkey have not been confirmed so far. However, the market is in disarray as producers backed the wrong horse in reckoning with an increasingly weak Turkish lira. Problem now is that the lira is much more stable than anticipated and suppliers have to backtrack. With prices drifting further apart buyers are prompted to act.
Nuts
Jun 24, 2021

Pistachios: strong export season takes its toll

SACRAMENTO/TEHRAN. Although the US had a much bigger pistachio inventory of 541,689 mt at its disposal in 2020/2021, Iran has succeeded in shipping similarly high volumes this season so far. Now, however, the tables are about to turn as market inventories are nearly exhausted in Iran. Prospects are also not exactly encouraging for 2021/2022.
Nuts
Jun 24, 2021

Pecans: total deliveries increase by 25%

ATLANTA. In the USA, traders are very satisfied with the demand situation. Even though shipments to some countries declined, China was able to compensate.
Nuts
Jun 23, 2021

Almonds: production estimates differ greatly

MADRID. Almond production estimates in Spain range as far apart as 25,000 mt. Frost and fungus are, however, expected to cut production. Spot market prices in Europe have changed.
Nuts
Jun 23, 2021

Desiccated coconuts: further delays in production and delivery

MANILA. Restrictions related to the coronavirus in the Philippines and the difficulties faced by Asian exporters are causing significant delays in shipments. The outlook for the near future is rather bleak.
Nuts
Jun 21, 2021

Cashews: Vietnam's exports on the rise

HANOI. Vietnamese exporters can be very satisfied with the first five months of the year - exports increased significantly year-on-year. Foreign buyers are probably less happy with the development of export prices.
Pulses
Jun 21, 2021

Peanuts: snow in Argentina

BUENOS AIRES. Snow in Córdoba has taken Argentina's peanut farmers by surprise. This is the first time snow has been witnessed in 14 years. Although harvesting has mainly been completed in the areas impacted, quality is a concern. Issue is that kernels with a high moisture content may have been damaged. This is, however, not the only problem.
Nuts
Jun 21, 2021

Hazelnuts: uncertainty prevails

ORDU. Trading is subued in Turkey's hazelnut market as uncertainty prevails and buyers prefer to wait. The TMO is still to issue a bid price and the Turkish lira has lost in value. Market players are also waiting for Ferrero to act. Traders are, nevertheless, drawing conclusions as to how prices will develop.
Nuts
Jun 14, 2021

Cashews: prices continue to rise

HANOI. The prospect of a smaller crop in Vietnam and the horrendous freight costs are causing export prices for cashew kernels to increase further. Overall, however, exports are going well.
Nuts
Jun 14, 2021

Almonds: US exports set new record

MADRID/SACRAMENTO. Last week, the Spanish Almond and Hazelnut Exporters Association (SAB-Almendrave) held its sixth annual meeting. The focus was on the prospects for the 2021 almond crop in the main growing countries.
Nuts
Jun 14, 2021

Walnuts: exports defy container shortage

SACRAMENTO/SANTIAGO. Container shortages are a massive problem at present. Walnut exports have, nevertheless, bounced back in the US and in Chile. Prospects are, however, not quite as encouraging in terms of production. This year's production is set to fall short of last year's record, which is now estimated at 783,754 short tons. This has also impacted spot market prices in Europe.
Nuts
Jun 14, 2021

Hazelnuts: market taken aback by nominal recovery of Turkish lira

ORDU. After weeks in which the Turkish lira remained weak, the market has now witnessed a rather unexpected turn. Signs of economic recovery have given the local currency a lift. Bookings in the toursim industry are, for instance, much better than expected. Not all players in the hazelnut market are, however, happy about this. Many even fear that they may incur heavy losses.
Nuts
Jun 10, 2021

Pistachios: suppliers do not stand a chance

TEHRAN. Iran’s pistachio suppliers do not stand a chance in the international market this year. Not only has frost severely impacted production but inventories are also running low. The US sanctions are also not exactly helpful. These are, however, not the only problems.
Nuts
Jun 9, 2021

Walnuts: smaller crops in the USA and Chile

SACRAMENTO/SANTIAGO. The US achieved a record walnut production of just over 707,000 mt in 2020, but a repeat of this is not to be expected for 2021. Chile's crop estimates were also reduced.
Pulses
Jun 9, 2021

Peanuts: adverse weather conditions delay US sowing

ATLANTA. Sowing in the USA is delayed because it is too dry in some growing regions, while other states are affected by cold temperatures and heavy rainfalls. Exports, however, look pretty good.
Nuts
Jun 7, 2021

Cashews: sheer incredible exports give rise to speculations

HANOI/NEW DELHI. Cambodia shipped an incredibly high volume of 836,000 mt raw cashew nuts to Vietnam between January and April as the Vietnam Cashew Association (Vinacas) reports. Total shipments from Cambodia to Vietnam, by contrast, ranged at a much lower 219,000 mt in 2020. Although Vietnam has indeed drastically stepped up imports, this cannot fully explain the sharp rise in shipments from Cambodia. Prices have taken a rather surprising turn in Europe. Traders are hoping for a sustained recovery in India, where the devastating surge in Covid-19 infections basically brought parts of the market to a standstill.
Nuts
Jun 7, 2021

Almonds: crop losses of up to 70%

MADRID/SACRAMENTO. In addition to frost, some almond farmers are also struggling with damage caused by fungal infestation. Organic almonds are particularly affected.
Nuts
Jun 7, 2021

Hazelnuts: procurement strategy based on weak lira is not without risk

ORDU. Turkey's hazelnuts exports may far exceed expectations this season. As buyers are reckoning with further sharp declines in the Turkish lira they prefer to wait and hope to profit from low export prices. This procurement strategy is, however, not without risk.
Nuts
Jun 2, 2021

Brazil nuts: massive price increases

SUCRE/LIMA. With significant production declines expected for 2021, prices have skyrocketed in recent weeks. Some drastic changes have also been recorded in EU imports.
Pulses
Jun 2, 2021

Peanuts: the market is in waiting mode

ATLANTA/BUENOS AIRES. Many buyers, especially in the EU, are currently holding back on new purchases. This is due to high stocks and market players waiting for the crops from Argentina and Brazil.