Almonds: downturn in exports

January 23, 2024 at 9:36 AM , Der AUDITOR
Play report as audio

MADRID/SACRAMENTO. Suppliers are struggling with prolonged drought conditions in Spain and exports are thriving for almonds in California.

Downbeat mood prevails in Spain

At 15,061 mt monthly exports from Spain were still rather disappointing in November. They ranged 3% lower than the 15,571 mt registered in November 2022. Total exports are almost lagging 8% behind last year. Shipments to nearly all top ten destinations are down, with the noted exceptions of the Netherlands and Austria. Issue is that the crop was much smaller than expected as the hot weather in spring and summer coupled with a lack of rain caused production to range as low as 90,000-100,000 mt. With Spain suffering from prolonged drought the prospects for 2024 are far from encouraging. Suppliers have, in addition, repeatedly emphasised that low prices are failing to attract buyers this season.

Almond exports, Spain (in mt)

Destination

2022/23

2023/24

Diff

France

12,480

11,344

-9.1%

Germany

12,785

11,001

-14.0%

Italy

9,706

9,152

-5.7%

Portugal

2,356

2,162

-8.2%

UK

2,178

1,874

-14.0%

Netherlands

1,349

1,703

26.2%

Poland

1,719

1,530

-11.0%

Belgium

1,662

1,365

-17.9%

Switzerland

1,059

1,005

-5.1%

Austria

662

875

32.2%

Others

9,556

9,251

-3.2%

Total

55,512

51,262

-7.7%

Ministry of Industry, Tourism and Trade, Spain, 01/08-30/11

Upbeat exports in California

December was, by contrast, strong in California. At 229 million pounds monthly shipments rose to the second highest December on record, mainly driven by exports. Domestic demand has also revived. Suppliers reckon that demand has returned to pre-pandemic levels. Crop estimates currently range at 2.3-2.4 billion pounds as the crop was late to arrive and farmers had to struggle with a wet season. Good news is that reservoirs can still draw on last year’s abundant water supplies. Yet, the market is monitoring forecasts very carefully as the winter turned out to be more on the dry side until the end of December. Expectation is that storms and snowpack may improve water supplies in January. With the bloom period starting in February first assessments of the 2024 crop will be issued in a few weeks.

 

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

View related articles

Go to the News Overview
Nuts
Dec 9, 2024
NEW DELHI. Contrary to the hopes of Indian growers, peanut prices have continued to decline. Indian edible oil imports are extremely high, which is slowing down trade. Nevertheless, the outlook is quite positive.
Nuts
Dec 9, 2024
BRISBANE. With harvesting finally complete the Australian Macadamia Society (AMS) has issued new estimates for the 2024 crop. They are much better than expected.
Nuts
Dec 4, 2024
ORDU. India is the next big market and marketing is underway to promote Turkish hazelnuts as a healthy snack. Speculations are rife in Turkey as to which way the market will turn in January. Buyers may have a small reason to hope.
Nuts
Dec 4, 2024
TEHRAN/BRUSSELS. Things are coming to a head between Iran and the EU over aflatoxin. To make the situation worse, the automotive industry has also turned to pistachios. Yet, exports are doing rather well. EU imports have surged.