Almonds: exporters brace for lazy consumption
June 29, 2023 at 11:23 AM ,
Der AUDITOR
Exports slow in Spain
While Spain’s almond exports were upbeat in March, this totally changed in April. Monthly exports, in fact, slumped to 8,419 mt in April 2023 as official figures shows. This is 22% down on the 10,769 mt exported in April 2022. Total exports are now lagging 8% behind last year as shipments to all leading export destinations have declined – with the noted exception of Turkey. Shipments to here still range 86% higher than last year.
Yet, it should be noted that at 106 mt April shipments from Spain to Turkey ranged 92% lower than last year. This ties in with present industry observations that almond consumption is lazy, despite prices being highly attractive, which will prove a challenge in the final weeks of the season. France remains the most important export destination for Spain, followed by Germany and Italy.
|
Almond exports, Spain (in mt) |
|||
|
Destination |
2021/22 |
2022/23 |
Diff |
|
France |
28,305 |
24,991 |
-11.8% |
|
Germany |
24,094 |
22,488 |
-6.7% |
|
Italy |
19,787 |
18,275 |
-7.7% |
|
UK |
4,754 |
4,206 |
-11.6% |
|
Portugal |
4,032 |
3,738 |
-7.3% |
|
Poland |
3,722 |
3,662 |
-1.7% |
|
Belgium |
4,696 |
3,398 |
-27.7% |
|
Netherlands |
3,790 |
3,022 |
-20.3% |
|
Turkey |
1,258 |
2,335 |
85.61% |
|
Switzerland |
2,040 |
1,935 |
-5.2% |
|
Others |
19,728 |
18,658 |
-5.5% |
|
Total |
116,206 |
106,708 |
-8.2% |
|
Ministry of Industry, Tourism and Trade, Spain, 01/08-30/04 |
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Waiting for the heat to arrive in California
While Texas is baking in heat, relatively mild conditions have prevailed in California in recent weeks. Temperatures should, however, exceed 100F (38C) over the weekend and remain above 94F (34C) next week. As the season’s carry-out will range high at an estimated 750 million pounds, suppliers are keen to ship the current crop right away. Buyers are, however, showing more interest in later shipments, which is not exactly helping sales along. Although prices are low, demand is subdued. Uncertainties also persist over the size of the new crop and many growers are frustrated with the decision made by the US Department of Agriculture’s National Agricultural Statistics Service to postpone issuing the Objective Estimate by five days to 12 July. This will also slow sales for the new crop.
Good news, however, is that India will drop the retaliatory tariffs for in-shell walnuts as well as for in-shell and shelled almonds as the International Dried Fruit Council and the Times of India report. The tariffs for in-shell almonds will drop from RS. 42/kg to RS. 35/kg and for shelled almonds from RS. 120/kg to RS. 100/kg in the next three months. As ties between the US and India are improving the US almond industry can only profit. India is the most important export destination for US almonds.
View more
- price chart, almonds, natural, +14, Valencia
- price chart, almonds, natural 13/14, Largueta
- price chart, almonds, blanched, 27/30, California SSR
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