Almonds: conservative guesstimate in Spain
May 25, 2022 at 8:52 AM ,
Der AUDITOR
Production to decline by 30%
Issue is that other local analysts such as AEOFRUSE, Spain's umbrella organisation for dried fruit and carob producers, and DESCALMENDRA, the national almond shellers' association, ususally provide more encouraging estimates. In 2021/2022, the National Nut Board, for instance, estimated production at 87,215 mt (192 million pounds) for shelled almonds, whereas other market sources issued estimates ranging at 109,200 mt (241 million pounds). This year, the board reckons that production will decline by nearly 30% due to sudden forsts in spring as well as drought and range at 61,684 mt (136 million pounds).
Andalusia is the leading production region in Spain and will acount for nearly half of production this year. Production will, nevertheless, decline by 11% here. Even sharper declines will be witnessed throughout the country, especially in Castile-La Mancha, where production will range 65% lower than last year. Extremadura is the noted exception since production is expected to climb by 70% here partly due to a 30% rise in bearing acreage. Yields differ considerably throughout Spain depending on how far irrigation is used. Areas with little or no irrigation have much lower yields than areas that employ irrigation.
|
Almond production, Spain |
||||||
|
Region |
2021/2022 |
2022/2023 |
Diff. |
|||
|
ha |
mt |
ha |
mt |
ha |
mt |
|
|
Andalusia |
131,449 |
33,800 |
146,541 |
29,939 |
11.5% |
-11.4% |
|
Extremadura |
6,458 |
4,051 |
8.549 |
6,866 |
32.4% |
69.5% |
|
Murcia |
69,057 |
10,600 |
72,248 |
6,700 |
4.6% |
-36.8% |
|
Valencia |
57,031 |
9,500 |
59,584 |
4,845 |
4.5% |
-49.0% |
|
Aragon |
66,611 |
10,506 |
67,960 |
4,782 |
2.0% |
-54.5% |
|
Castile-La Mancha |
102,633 |
12,020 |
116,509 |
4,132 |
13.5% |
-65.6% |
|
Catalonia |
30,144 |
4,805 |
30,473 |
2,805 |
1.1% |
-41.6% |
|
Balearic |
10,676 |
550 |
10,302 |
680 |
-3.5% |
23.6% |
|
La Rioja |
5,191 |
534 |
5,292 |
135 |
1.9% |
-74.7% |
|
Others |
4,268 |
849 |
4,684 |
800 |
9.7% |
-5.8% |
|
Total |
483,518 |
87,215 |
522,142 |
61,684 |
8.0% |
-29.3% |
|
National Nut Board, Spain, May 2022 |
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Exports down in March
Spain's almond exports declined by 8% in March as compared with last year. Monthly exports for almonds with and without shell ranged at 11,167 mt (24,619 pounds) in March as opposed to 12,098 mt (26,671 pounds) in the same month last year. France was the leading export destination in March since Spain exported 2,875 mt (6,338 pounds) to here, which is 11% up on last year. Exports to Germany, by contrast, declined by 21% and ranged at 1,936 mt (4,268 pounds). The country, nevertheless, remained the second most improtant export destination for Spain in March.
Spain's total exports range 11% higher than last year this season so far since they have climbed to 105,436 mt (232,446 pounds). The most important export destinations comprise France (+28% to 25,830 mt or 56,945 pounds), Germany (+8% to 21,997 mt or 48,495 pounds) and Italy (+6% to 17,795 or 39,231 pounds). The UK (-24% to 4,363 mt or 9,619 pounds), Belgium (+33% to 4,322 mt or 9,528 pounds) and Portugal are next in line (+30% to 3,746 mt or 8,258 pounds). The United States are the only non-EU member state ranking in Spain's top 10 export destinations. Shipments to the USA have, however, declined by 10.1% to 1,856 mt (4,0918 pounds).
|
Almond exports, Spain, in mt |
|||
|
Destination |
2020/21 |
2021/22 |
Diff. |
|
France |
20,246 |
25,830 |
27.6% |
|
Germany |
20,285 |
21,997 |
8.4% |
|
Italy |
16,749 |
17,795 |
6.2% |
|
UK |
5,705 |
4,363 |
-23.5% |
|
Belgium |
3,259 |
4,322 |
32.6% |
|
Portugal |
2,873 |
3,746 |
30.4% |
|
Poland |
2,948 |
3,466 |
17.6% |
|
Netherlands |
3,857 |
3,358 |
-12.9% |
|
Greece |
1,519 |
1,961 |
29.1% |
|
USA |
2,064 |
1,856 |
-10.1% |
|
Others |
15,344 |
16,742 |
9.1% |
|
Total |
94,848 |
105,436 |
11.2% |
|
Ministry of Industry, Trade and Tourism, Spain, 01/08/-31/03 |
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Fixed prices
Summer will prove decisive for prices. Although production is set to decline in Spain and the United States, it should be noted that production is still set to be the third largest on record in California. If exports remain high before the new crop arrives, this would not only mean that carry-ins will range lower but also that that buyers will be well covered in the first few months of the new season. Prices have remained firm in Europe for now.
|
Almonds |
||
|
Type |
EUR/kg |
USD/kg |
|
Valencia, 12/14 mm, natural, Spain |
4.50 |
4.82 |
|
Valencia, +14 mm, natural, Spain |
4.70 |
5.03 |
|
California, SSR, 23/25, blanched, USA |
5.55 |
5.94 |
|
FCA Spain |
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View more
- price chart, almonds, natural, +14, Valencia
- price chart, almonds, natural 13/14, Largueta
- price chart, almonds, blanched, 27/30, California SSR
- more price charts
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