Almonds: EU imports at new lows
February 20, 2024 at 11:49 AM ,
Der AUDITOR
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 |
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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
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