Nuts

Almonds: global crop shrunk by 7%

October 27, 2022 at 12:51 PM, Der AUDITOR
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SACRAMENTO/MADRID. The INC recently adjusted its crop forecast for global almond production. While the results for the USA and Spain should not be a surprise, there are also positive things to report.

Almond crop declines to 1.53 million mt

The International Nut and Dried Fruit Council (INC) has updated its data for almond production in 2022/2023. Experts expect global production to fall to 1.53 million mt of shelled almonds, down from a forecast of 1.54 million mt in the previous report. The USA and Spain experienced a noticeable drop in yield this year due to unfavourable weather conditions such as spring frost and extreme summer heat. Compared to last year, the global almond crop is expected to decline by 7.2%. Nevertheless, there are also growing countries whose crop was significantly better year-on-year, including Australia, Turkey, Portugal and Italy. However, Australian almond growers are concerned about possible yield declines for the upcoming 2023 crop. Due to pest infestations, the movement of commercial bee colonies between Australian states was restricted in the summer, which is why some plantations in Victoria were unable to set up the desired number of hives. However, what impact this measure will actually have on Australian almond crops remains to be seen.

Almond production, in mt

Country

2021/22

2022/23

Diff.

USA

1,298,500

1,155,800

-11.0%

Australia

124,439

143,805

15.6%

Spain

105,000

75,051

-28.5%

Turkey

18,000

25,000

38.9%

Portugal

15,000

25,000

66.7%

Italy

8,500

22,000

158.8%

Tunisia

16,500

15,000

-9.1%

Morocco

13,000

13,000

0.0%

Chile

12,000

12,000

0.0%

Greece

4,000

10,000

150.0%

Iran

4,000

4,000

0.0%

Others

30,000

30,000

0.0%

Total

1,648,939

1,530,656

-7.2%

INC, October 2022

Prices stable again

Despite the yield declines in two of the most important growing countries, the USA started the new season with record carry-over stocks, which makes it enormously difficult for market players to adjust their prices to circumstances such as inflation, rising producer costs, etc. Last week, prices for US almonds were even lowered significantly on the European spot market, but remained unchanged for the time being. US almonds of the Carmel variety, SSR, 23/25, natural are holding their level of EUR 4.45/kg FCA Spain. Although the almond market is at its peak during the Christmas season, market players remain less optimistic about the coming months.

Almonds

Type

EUR/kg

Valencia, 12/14 mm, natural, Spain

4.35-4.50

Valencia, +14 mm, natural, Spain

4.75-5.00

Nonpareil, Extra no 1, 23/25, natural, USA

5.90

Carmel, SSR, 23/25, natural, USA

4.45

California, SSR, 23/25, blanched, USA

5.60

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

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price chart almonds, natural, 12-14 mm, Valencia

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