Almonds: Spain steps up buying
February 13, 2023 at 11:33 AM ,
Der AUDITOR
Sharp decline in shipments to China
At 230 million pounds (104,326 mt) monthly shipments hit a new January record. While domestic shipments are relatively on par with last year at 66 million pounds (29,937 mt), exports climbed to 163 million pounds (73,935 mt), which is 43% up on last year. Total year-to-date shipments have now reached 1.3 billion pounds (576,788 mt) and range nearly 3% higher than in the same period last year. This trend is also driven by exports since domestic shipments fall 7% short of last year at 363 million pounds (148,019 mt), whereas exports range 7% higher at 908.275 million pounds (411,986 mt).
Spain, the United Arab Emirates and Turkey have notably stepped up buying in the US. Although India remains the most important export destination for US almonds, shipments to here have declined by 2%. Shipments to China and Hong Kong have notably dipped by 20% and the country presently only ranks fourth, behind Spain and the United Arab Emirates.
|
US almond shipments in 1,000 lbs |
|||
|
Destination |
2021/22 |
2022/23 |
Diff. |
|
USA |
391,754 |
363,328 |
-7.3% |
|
India |
193,949 |
189,860 |
-2.2% |
|
Spain |
77,915 |
97,890 |
25.6% |
|
UAE |
52,325 |
71,443 |
36.5% |
|
China/Hong Kong |
87,309 |
69,771 |
-20.1% |
|
Germany |
48,467 |
52,957 |
9.3% |
|
Netherlands |
39,921 |
42,413 |
6.2% |
|
Italy |
36,937 |
38,042 |
3.0% |
|
Turkey |
27,477 |
37,980 |
38.2% |
|
Japan |
41,855 |
35,001 |
16.4% |
|
Others |
241,090 |
272,917 |
13% |
|
Total |
1,238,999 |
1,271,602 |
2.6% |
|
California almonds, 01/08-31/01 |
|||
2023 crop to fall short of NASS estimate
Since crop receipts range 12.5% lower than last year at 2.5 billion pounds (1.12 million mt), analysts expect production to fall short of the NASS estimate of 2.6 billion pounds (1.17 million mt). Sales are also strong, which may support the market. Much, however, depends on this year’s crop and demand. Weather conditions are quite good in California at present and reports state that the trees are carrying plenty of buds. Water supply will also be better than last year. Prospects are, in other words, highly encouraging so far. Consumers are, however, still struggling with inflation, which will certainly impact demand in the next few months. Spot market prices have certainly declined a bit in Spain in recent weeks.
|
Almonds |
||
|
Type |
EUR/kg |
USD/kg |
|
Valencia, 12/14 mm, natural, Spain |
4.15 |
4.30 |
|
Valencia, +14 mm, natural, Spain |
4.55 |
4.86 |
|
Largueta, 13/14 mm, natural Spain |
6.80 |
7.26 |
|
Largueta, 12/13 mm, natural, Spain |
6.50 |
6.40 |
|
Almond meal, blanched |
4.05 |
4.32 |
|
Almonds, blanched, diced, USA |
4.05 |
4.32 |
|
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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