Almonds: slump in US exports
November 15, 2021 at 11:25 AM ,
Der AUDITOR
October exports one third down
In how far the NASS objective estimate over 2.80 billion lbs (1.27 million mt) is accurate will show before the end of the year. As 1.74 billion lbs have been registered so far, around 1 billion lbs are still missing. Although exports started off well in August, shipments have declined in September and October. October exports range 36% lower than one year ago. The US shipped 151,88 million lbs (68,891 mt) of almonds with and without shell overseas in October. Domestic shipments ranged at 65.10 million lbs (29,572 mt), which is 12% down on last year.
Shipments to Europe have declined by more than half, especially to Spain (-54% to 10.15 million lbs or 4,606 mt), Germany (-55% to 5.28 million lbs or 2,394 mt) and Italy (-52% to 4.5 million lbs or 2,040 mt). US exports to Asia and the Middle East have also declined, especially to China and Hong Kong (-14% to 32,12 million lbs or 14,571 mt), India (-31% to 29.16 million lbs or 13,228 mt) and Turkey (-28% to 8.07 million lbs or 3,663 mt). Issue in Turkey is that the depreciation of the lira has rendered hazelnuts more attractive in the domestic market. Total shipments for the season range at 652.07 billion lbs (295,775 mt), which is 15% down on last year. While domestic shipments have declined by 4% on last year, the decline in overseas shipments is more pronounced at 19%. Overseas shipments range at 456.2 million lbs (206,927 mt). This decline is not only driven by the fact that buyers seized on last season’s low prices for supplies and now require less but also because of the impact of the pandemic on logistics.
|
US almond shipments in 1,000 lbs |
|||
|
Destination |
2021/22 |
2020/21 |
Diff. |
|
Asia/Oceania |
236,079 |
270,662 |
-13% |
|
USA |
195,875 |
203,273 |
-4% |
|
Europe |
130,809 |
173,467 |
-25% |
|
Africa/Middle East |
57,414 |
77,088 |
-26% |
|
North/South America |
31,894 |
39,213 |
-4% |
|
Total |
652,072 |
763,704 |
-15% |
|
ABC, 01/08/2021-31/10/2021 |
|||
Prices remain low
Although production is expected to range lower than last year, the prices for US almonds have, nevertheless, declined in the US and in Europe in recent weeks. Traders report that although demand is sluggish for almonds, other nuts such as walnuts, hazelnuts and cashews have become more attractive.
|
Almonds |
|
|
Type |
EUR/kg |
|
Valencia, 12/14 mm, natural, Spain |
4.35 |
|
Valencia, +14 mm, natural, Spain |
4,40 |
|
California, SSR, 23/25, natural |
5,15 |
|
California, SSR, 23/25, blanched |
5,85 |
|
FCA Spain |
|
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
