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Almonds: harvest is in full swing

September 8, 2022 12:50 PM, Der AUDITOR
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MADRID/SACRAMENTO. In Spain, the almond harvest is in full swing, but agricultural organisations are urging growers to hold back their goods. Meanwhile, there is dissatisfaction with the current prices.

Dissatisfaction is spreading

Many food commodities have become more expensive due to inflation, rising energy costs, etc. However, almond prices are largely defying this trend, which is not at all to the liking of the market players and especially the Spanish farmers' associations. Again and again they call on the growers to hold back their goods and not to rush into the market in order to ensure higher prices. But the pressure of US almond production, which could still achieve a relatively good result despite the forecast decline of about 12%, is also felt in the Spanish almond market.

Although prices for US almonds and almond preparations on the European spot market fluctuate every now and then by up to EUR 0.30/kg, prices for Spanish Valencias have been stable to slightly declining for weeks. Valencia almonds, natural, 12/14 mm are currently offered at a level of EUR 4.40/kg FCA Spain. The experts from Blue Diamond Almonds report that the US almond crop is significantly smaller than usual in many places due to frost during the flowering period, and that there are also many small almond kernels due to the drought. At least the loss due to pest infestation is limited.

Almonds

Type

EUR/kg

Valencia, 12/14 mm, natural, Spain

4.40

Valencia, +14 mm, natural, Spain

4.60

Nonpareil, Extra No 1, 23/25, USA

6.05

Carmel, SSR, 23/25, USA

4.75

FCA Spain

High losses in Spanish growing regions

Spanish agricultural media report that the crop volume is expected to decline by almost a third to 61,684 mt compared to last year, almost half of which is grown in Andalusia. The agricultural organisation UPA Granada recently announced that due to the frost last April and the current high temperatures, the region is expecting a 50% drop in production compared to last year to 15,000 mt - after the 2021 crop was already significantly smaller (2021: 32,600 mt vs. 2020: 62,286 mt). About 40% of Andalusian almonds are grown in Granada. UPA Granada is now demanding government support for the affected farmers. In total, the loss is said to amount to 120 million euros. The persistent drought and a low rainfall rate are also a risk in the long term, as the almond trees are drying out. Spain's almond harvest is now in full swing and the results should be visible in the coming weeks.

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

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