Nuts

Almonds: disaster strikes in Spain

July 5, 2022 at 10:51 AM , Der AUDITOR
Play report as audio

MADRID/SACRAMENTO. Water stress is an issue in California and in Spain. The situation in Spain is so bad that agricultural organisations are demanding compensations for farmers worst hit by this year's adverse weather conditions.

Worst production in five years

Drought and frost-related damages have impacted production in Spain. Growers in the Granada province in Spain's Andalusia region even report that they have lost up to 90% of their crops and most of their income. This has prompted the local UPA Granda agricultural organisation to demand financial support for affected farmers. Adverse weather conditions have, in particular, reduced the yields for Guara and Largueta almonds, which are grown on around 50% of the 95,000 ha on which the nuts are cultivated according to UPA Granada. Analysts reckon that this may be the worst production in five years. 

Prospects are also not much better in Anadulsia, Spain's leading producing region for almonds. Local media state that this year's production will range below 30,000 mt. This falls nearly 50% short of the initially anticipated 61,684 mt.

Surprisingly firm prices

The prices for almonds are still surprisingly attractive and firm in Spain and size 12/14 mm Valencia almonds are quoted at EUR 4.45/kg (USD 4.64/kg) FCA. Organic Valenica almonds are trading at EUR 7.80/kg (USD 8.14/kg) and the prices for US almonds have even declined temporarily with blanched SSR 23/25 California almonds trading at EUR 5.35/kg (USD 5.58/kg) FCA Spain. At present the market is gearing up for the Objective Estimate, which will be issued in 8 July and for the June Position Report, which will be issued on 12 July. Suppliers are confident that US exports have hit another record in June as overseas buyers are said to have purchased additional supplies in case shipments will be delayed at the start of the season and prices may rise.

Almonds

Type

EUR/kg

USD/kg

Valencia, 12/14 mm, natural Spain

4.45

4.64

Valencia, +14 mm, natural, Spain

4.65

4.85

Organic Valencia, 12/14 mm, natural, Spain

7.80

8.14

Organic Valencia, +14 mm, natural, Spain

7.90

8.24

Largueta, 13/14 mm, natural, Spain

6.20

6.47

California, SSR, 23/25, blanched, USA

5.35

5.58

FCA Spain

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

Attached Files

File icon
price chart almonds natural California 27-30 SSR
File icon
price chart almonds natural Valencia 12-14 Spain

View related articles

Go to the News Overview
Nuts
Apr 11, 2024
ORDU. In the coming days, the TMO could start selling its raw material stocks. The INC has adjusted its production estimates for the global hazelnut crop.
Nuts
Apr 11, 2024
CAPE TOWN/REUS. According to the INC, macadamia production will increase in the main producing countries and market players are optimistic. A major case of fraud was recently uncovered in South Africa.
Nuts
Apr 9, 2024
SUCRE/REUS. The Brazil nut season has got off to a much brisker start than last year. Bolivia remains the most important producer, while Brazil has suffered losses.
Nuts
Apr 8, 2024
NEW DELHI/REUS. While the Indian peanut market is facing various hurdles, market players in the USA and Argentina are satisfied with the current situation. China remains the most important peanut producer.