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Almonds: record exports in Australia vs slump in USA

February 15, 2022 at 4:02 PM, Der AUDITOR
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SACRAMENTO/CANBERRA. While Australia is currently witnessing a record export season, US almond exports are lagging behind. Crop receipts, however, range higher than anticipated. The prices on offer in Europe differ greatly.

US exports still lagging behind

The US shipped a total of 1.24bn lbs (562,001 mt) of inshell and shelled almonds between August and January, which is 16% down on the 1.48bn lbs (670,441 mt) shipped in the same period in 2020/2021. January shows a diverging trend. While overseas shipments declined by 8.8% to 110.64m lbs (80,382 mt), domestic shipments rose by 13% to 66.57m lbs (30,197 mt) as compared with Jauary 2021. While monthly shipments to India as the most important export destination remained relatively firm at 22.85m lbs (10,363 mt) in January, shipments to Spain declined sharply by 40% to 10.90 lbs (4,945 mt) and to Japan by a more moderate 3% to 8.27m lbs (3,754 mt). In other destinations in Europe monthly shipments to the Netherlands rose by 33% to 6.60m lbs (2,993 mt), whereas shipments to Germany declined by 37% to 6,23m lbs (2,826 mt).

California Almonds further reports that the kernel weight of the crop receipts to date range at 2.83bn lbs, which exceeds the forecasted 2.80bn lbs. Crop receipts, nevertheless, range  6.53% lower than in 2020/2021. As exports still fall short of last year sharp price rises are highly improbable. Market players reckon that this season's carry-over supplies will be high.

US almond shipments in 1,000 lbs

Destination

2020/21

2021/22

Diff.

USA

390,480

391,754

0.3%

India

242,257

193,949

-19.9%

China/Hong Kong

119,521

87,309

-27.0%

Spain

112,996

77,915

-31.0%

United Arab Emirates

58,980

52,325

-11.3%

Germany

63,622

48,467

-23.8%

Japan

36,798

41,855

13.7%

Netherlands

43,105

39,921

-7.4%

South Korea

36,732

37,314

1.6%

Italy

48,808

36,937

-24.4%

Others

 314,770

 231,253

-26.5%

Total

1,478,069

1,238,999

-16.2%

California Almonds, shelled and inshell almonds, Aug-Jan

Australia maintains record

Exports from Australia hit a record in November, which they were able to sustain in December. The country shipped a total of 81,858 mt of almonds overseas between March and December, which is 14% up on the same period in 2020. China (+40% to 2,496 mt), Vietnam (+43% to 991 mt) and Spain (+4,018% to 844 mt) were the three most important export destinations for Australia in December and range among the top five in 2021. Year to date shipments, by contrast, declined sharply to the USA, the Netherlands and Germany. As production prospects are highly encouraging in Australia this should add pressure to the market in the next few months.

Almond exports, Australia, in mt

Destination

2020

2021

Diff.

China

25,361

34,501

36.0%

India

11,107

16,686

50.2%

Vietnam

6,402

6,529

2.0%

Spain

2,825

4,252

50.5%

Germany

5,098

3,057

-40.0%

United Arab Emirates

1,989

2,613

31.4%

Netherlands

3,800

1,787

-53.0%

New Zealand

2,216

1,701

-23.2%

Turkey

1,508

1,529

1.4%

USA

3,166

601

-81.0%

Others

8,001

8,601

7.5%

Total

71,473

81,857

14.5%

Australian Almonds, inshells and kernels, Mar-Dec

The pressure is on

Spot market prices differ considerably depending on supplier in Europe, which is also the case in Spain. The prices for Valencia almonds, size 12/14 mm, may range at USD 4.87/kg (EUR 4.30/kg) FCA Spain but offers vary.

Almonds

Type

USD/kg

EUR/kg

Valencia, 12/14 mm, natural

4.87

4.30

Valencia, +14 mm, natural

5.04

4.45

Butte/Padre, SSR, 27/30, natural

5.16

4.55

Butte/Padre, SSR, 27/30, blanched

5.84

5.15

FCA Spain

 

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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 Valencia 12-14 Spain

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