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Almonds: slump in exports and curious prices

November 6, 2023 at 10:48 AM , Der AUDITOR
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MADRID. Spain’s almond exports took a dip at the start of the current season. Alarm bells are ringing over the crop size, but prices have taken a rather modest turn.

Exports 20% down

Exports slipped by 20% to 7,987 mt in August as compared with last year. Shipments to France took a 31% hit and have witnessed sharp declines in Germany and Italy. Contrary to this, shipments to the Netherlands and Austria have risen sharply.

Almond exports, Spain (in mt)

Destination

2022

2023

Diff

France

2,814

1,954

-30.6%

Germany

2,129

1,752

-17.8%

Italy

1,412

1,077

-23.8%

Netherlands

240

340

41.7%

UK

316

307

-2.9%

Poland

302

299

-1.0%

Portugal

440

256

-49.9%

Belgium

311

251

-19.3%

Austria

80

219

173.7%

USA

165

127

-23.1%

Others

1,835

1,405

-23.5%

Total

10,044

7,987

-20.5%

Ministry of Industry, Tourism and Trade, Spain, 01/08-31/08

Prices still rather low

Suppliers have reaffirmed their estimate that the crop size ranges at 90,000 mt rather than the 120,000 mt anticipated in July as farmers reckon that they have lost around 30% of their crop. Issue is that the excessive heat in spring and summer coupled with a lack of water has reduced yields and kernel size. Sellers are quite clear that it will be difficult to supply large sizes. Yet, it should be noted that this year’s crop is still up on last year’s 60,000 mt. Prices may have risen sharply in Spain since September, but still range much lower than in 2022 and 2021.

Almonds

Conventional

EUR/kg

USD/kg

Valencia, 12/14 mm, natural, Spain

3.85

4.11

Valencia, +14 mm, natural, Spain

4.81

4.50

Guara, 12/14 mm, natural, Spain

3.80

3.98

California, SSR, 27/30, natural, USA

3.95

4.22

Carmel, SUP, 23/25, USA

4.62

4.93

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
more price charts

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price chart almonds natural California 27-30 SSR
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price chart almonds natural Valencia 12-14 Spain

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