Almonds: revised estimates drive up prices
July 20, 2022 at 11:26 AM ,
Der AUDITOR
Production falls short of expectations
Australian Almonds has reported unexpected harvest delays. Although harvesting is normally completed by Easter, rains and logistical challenges kept growers busy until June this year. Rains have also impacted quality and drying. While initial production estimates for almond kernels ranged at 145,000 mt, this year's crop comes closer to 138,650 mt.
Exports also spell bad news for the industry. Australia's almond exports, in fact, only reached 7,806 mt in May, which is 20% down on the 9,791 mt shipped overseas in May 2021. Performance was much better in March and April. Total exports have declined by 5% to 15,816 mt this season so far as compared with the same period in 2021. Shipments to China have risen by 8% to 7,093 mt and shipments to Spain, the Netherlands and New Zealand have also risen considerably. Contrary to this, shipments to India and Germany have declined.
|
Almond exports Australia, in mt |
|||
|
Destination |
2021/22 |
2022/23 |
Diff. |
|
China |
6,547 |
7,093 |
8.3% |
|
India |
3,984 |
2,307 |
-42.1% |
|
Spain |
777 |
1,384 |
78.1% |
|
Germany |
799 |
775 |
-3.0% |
|
Netherlands |
182 |
754 |
314.3% |
|
New Zealand |
228 |
529 |
132.0% |
|
UAE |
574 |
518 |
-9.8% |
|
Turkey |
522 |
496 |
-5.0% |
|
Vietnam |
899 |
369 |
-59.0% |
|
USA |
292 |
161 |
-44.9% |
|
Others |
1,873 |
1,430 |
-23.7% |
|
Total |
16.677 |
15.816 |
-5,2% |
|
Australian Almonds, Mar-May, KWE |
|||
Price adjustments due to revised estimates
Production will also decline in Spain and in the United States this year. The USDA's National Agricultural Statistics Service (NASS) recently revised production estimates downwards to 2.6 billion lbs (1.179 million mt), which is an 11% decline on last year. This has prompted suppliers to raise their prices. European spot market prices are nominally up on last week and the prices for Valencia almonds range at USD 4.64/kg FCA Spain. As high volumes are arriving from the United States in European at present, traders will stock up in Europe in summer and be less dependent on the new crop.
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Almonds |
||
|
Type |
EUR/kg |
USD/kg |
|
Valencia, 12/14 mm, natural, Spain |
4.55 |
4.64 |
|
Valencia, +14 mm, natural, Spain |
4.75 |
4.89 |
|
Largueta, 13/14 mm, natural, Spain |
6.20 |
6.33 |
|
California, SSR, 23/25, blanched, USA |
5.50 |
5.61 |
|
FCA Spain |
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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
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