Almonds: demand to hit supplies
April 13, 2021 at 4:35 PM ,
Der AUDITOR
March shipments 28% up on last year
US almond shipments climbed to 120,950 mt in March, which is not only 28% up on March last year but also highly impressive considering the impact of the Covid-19 pandemic on logistics, catering and tourism. In addition, it should be noted that US consumption declined by 11% to 32,323 mt in March. Overseas shipments have, by contrast, risen by 50% to 88,627 mt in the same month. Shipments to India (+62% to 11,033 mt), Spain (+34% to 9,861 mt) and Germany (+86% to 8,978 mt) and China/Hong Kong (+191% to 3,315 mt) have most notably risen. Total US shipments for almonds with and without shell range at 897,626 mt this season so far, which is nearly 20% up on the same period last year.
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US almond shipments |
|||
|
Destination |
2020/21 |
2019/20 |
Diff. |
|
USA |
241,300 |
232,580 |
4% |
|
North/South America |
41,037 |
35,203 |
17% |
|
Asia/Oceania |
277,020 |
195,222 |
42% |
|
Europe |
232,761 |
204,231 |
14% |
|
Africa/Middle East |
105,509 |
95,629 |
10% |
|
Total |
897,626 |
762,864 |
18% |
|
ABC, since the start of the season |
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First estimates to be issued at the end of April
US almond production without shell exceeded 1.4 million mt this season, which is a 22% rise on the record production witnessed in 2019/2020. As supplies for some varieties are running low certain prices are, nevertheless, expected to rise this season. Another bumper crop is highly unlikely this year. Issue is that the trees require time to recover and reports from orchards with high production in 2020 are not exactly encouraging. First production estimates will be issued at the end of April once the data on bearing acreage has emerged. The National Agricultural Statistics Service (NASS) will issue a subjective estimate on 12 May. On top of this, the strong export performance in March has prompted Blue Diamond Almonds to estimate end-of-season stocks for 2020/2021 as low as 315,000-320,000 mt.
Prices to remain attractive for common varieties
While limited supplies are expected to drive up the prices some almond varieties over the next few weeks, the spot market prices for Valencia and California almonds have remained highly attractive in Europe. The prices on offer may, however, differ by a few cents depending on supplier.
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Almonds |
|
|
Type |
EUR/kg |
|
Valencia, 12/14 mm, natural, Spain |
3.80-3.95 |
|
Valencia, 12/14 mm, blanched, Spain |
4.65-4.80 |
|
Largueta, 13/14 mm, natural, Spain |
5.70 |
|
Marcona, 12/14 mm, natural, Spain |
7.40 |
|
California, SSR, 23/25, natural |
4.20 |
|
California, SSR, 23/25, blanched |
4.85 |
|
Organic, Valencia, 12/14 mm, natural, Spain |
8.40-9.00 |
|
Organic, Valencia, >14 mm, natural, Spain |
8.50-8.90 |
|
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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