Free of charge

Almonds: low prices fail to attract buyers

December 11, 2023 at 10:25 AM , Der AUDITOR
Play report as audio

MADRID/SACRAMENTO. Sales did not go well for Spanish almonds in the first two months of the season despite prices being relatively low. US suppliers are, by contrast, quite upbeat.

Exports down in Spain

Low prices have failed to attract buyers as local suppliers report. Exports, in fact, ranged 16% lower in August to September as compared with the same period last year. Spain’s top ten export destinations are exclusively located in Europe with France, Germany and Italy taking the lead. Shipments to all destinations have dipped with the noted exception of the Netherlands and Austria. Prices indeed slumped in August with natural 12/14 mm Valencia almonds quoted at EUR 3.45/kg CIF Spain at the end of the month. Although they have been on the rise since, they are a far cry from the high levels witnessed last year.

Almond exports, Spain (in mt)

Destination

2022

2023

Diff

France

6,587

4,703

-28.7%

Germany

5,037

4,566

-9.4%

Italy

4,608

3,710

-19.5%

Portugal

1,125

917

-18.5%

UK

900

759

-15.7%

Netherlands

576

736

27.8%

Poland

823

614

-25.4%

Belgium

737

581

-21.2%

Austria

262

522

99.2%

Switzerland

532

449

-15.7%

Others

4,220

3,674

-13.0%

Total

25,407

21,231

-16.5%

Ministry of Industry, Tourism and Trade, Spain, 01/08-30/09

Domestic demand a worry in California

Olam’s most recent Global Market & Crop Report highlights that hullers and shellers will be busy processing the late US crop until the end of the month. Although some varieties have been difficult to come by in recent weeks, supplies are improving, and November shipments should come in strong. The Almond Board of California will release the November Position Report on 12 December, which will provide a better idea of this year’s crop size. Yet, domestic demand is a worry as inflation has prompted buyers to spend more cautiously on staple goods. Christmas sales have been concluded and Chinese New Year sales are also wrapping up.

 

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
Sep 10, 2026
ORDU. In Turkey, the TMO has responded to quality concerns for hazelnuts. Ferrero has adopted a rather unusual approach. Buyers are reacting in totally different manners to the current market situation in Europe and in China. Exports slumped to a twenty-year low in 2025/2026.
Nuts
Sep 9, 2026
CAPE TOWN/CANBERRA. In major producing countries such as South Africa and Australia, the macadamia crop is expected to be significantly better than last year. This is already having an impact on prices. EU imports are on the rise.
Nuts
Sep 9, 2026
TEHRAN. Surprise in July was that Iran’s exports to the United Arab Emirates revived for pistachios, despite the ongoing disruptions. Exports to China have plummeted. Kernel shipments are gaining shares. Expectation is that a sharp decline in production will eat up the anticipated record carry-in supplies in 2026/2027.
Nuts
Sep 8, 2026
MANILA. The coconut market is showing the first signs of a firmer trend: whilst prices for desiccated coconuts remain stable, coconut oil prices are rising. At the same time, attention is increasingly turning to supply for 2027. Transport costs to Europe have fallen recently.