Nuts

Almonds: EU imports at new lows

February 20, 2024 at 11:49 AM , Der AUDITOR
Play report as audio

BRUSSELS/SACRAMENTO. EU imports have slumped by 21% for almonds this season so far. With the impacts of the climate crisis gaining attention the industry is keen to promote almonds as good. Production prospects could hardly differ more in California and Spain this year.

EU imports dip to twelve-year low

The EU has imported 120,215 mt of almonds worth EUR 477 million (USD 515 million) this season so far. Imports have slumped by more than 20% on the 152,713 mt worth EUR 620 million (USD 670 million) recorded in the same period in 2022/2023. In terms of volume imports have hit a five-year low this season. The import value has even declined to the lowest in twelve years. Shipments from the USA and Australia, the two most important supplying countries, have also slumped by more than 20%. Shipments from Vietnam may have risen by an impressive 79%, but the volume is much lower. With a market share of 33% Spain is the leading buying country within the EU, followed by Germany with 25% and Italy with 12%.

EU almond imports (in mt)

Country

2022/23

2023/24

Diff.

USA

140,327

110,289

-21.4%

Australia

11,150

8,534

-23.5%

Vietnam

355

634

78.6%

Chile

279

333

19.4%

Morocco

176

72

-59.1%

EU

80

65

-18.8%

Pakistan

103

60

-41.7%

Afghanistan

43

40

-7.0%

UK

8

35

337.5%

Turkey

29

33

13.8%

Tunisia

10

32

220.0%

Others

153

88

-42.5%

Total

152,713

120,215

-21.3%

Provisional data, DG TAXUD Customs Surveillance, 01/08-13/02
HS Code 08021290 – Fresh or dried almonds, shelled (excl. bitter)

Changing the narrative

Key words are zero waste and sustainability in reports currently issued by almond industry representatives . While the Almond Board of California is promoting almonds as a zero waste and highly versatile product, the Association of Almond and Hazelnut Exporters of Spain (SAB-Almendrave) has highlighted that Iberian almonds absorb as much carbon dioxide as Barcelona produces. With the impact of the climate crisis rapidly gaining attention almonds have come under scrutiny in recent years and the industry has certainly recognised the need to market the advantages the nut holds for the environment and human health.

With the almond bloom slowly starting for early varieties in both California and Spain, water supplies are an issue. Spain is caught up in a prolonged period of drought leaving little room for optimism for this year’s production. Contrary to this, prospects are much more encouraging in California, which has experienced quite a bit of rain in recent weeks. Snow-pack has also improved and the weather is warm enough for the bees to fly and pollinate the trees as soon as the bloom period fully kicks in. With exports continuing strong right up though January the market has gained a lot of support. With receipts still coming in the 2023/2024 crop may well exceed industry expectations of 2.4 billion pounds. The Red Sea crisis is still prolonging transit times and driving up costs, also for energy.

 

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
Jul 15, 2024
NEW DELHI/BUENOS AIRES. In India, peanut prices continue to fall with the prospect of a good crop. Demand in Argentina is good, while Brazil is struggling badly. In the USA, the weather will prove decisive.
Nuts
Jul 15, 2024
BRUSSELS/TEHRAN. EU imports surged to record high levels for pistachios in the first half of the year. US shipments have basically flooded the market, much to the detriment of Iran.
Nuts
Jul 11, 2024
BRUSSELS/FOLSOM. EU imports have surged for walnuts in the first six months of 2024. Shipments from Ukraine have risen by an incredible 82%. US exports are also strong.
Nuts
Jul 11, 2024
SACRAMENTO. Production estimates stand 7% lower than in May in the USDA’s Objective Measurement Report issued on Wednesday. Although California is expecting the third largest crop on record, yields still leave a lot to be desired.