Nuts

Almonds: Spain steps up buying

February 13, 2023 at 11:33 AM, Der AUDITOR
Play report as audio

MADRID/SACRAMENTO. January has turned the tide for US almonds. While domestic shipments remained flat, monthly exports climbed to 908 million pounds (411,986 mt) as the position report issued by California Almonds shows. The total volumes shipped now range higher than last year for the first time this season.

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
Shelled and inshell

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

 

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

Attached Files

File icon
price chart almonds natural Valencia 12-14 Spain

View related articles

Go to the News Overview
Nuts
Mar 23, 2023
MADRID/SACRAMENTO. With the stormy weather persisting in California and flowering coming to an end prospects are far from encouraging for almonds. High temperatures may have helped busy bees along in Spain, but growers are sounding the alarm bell.
Nuts
Mar 22, 2023
MANILA. As T.M. Duché reports the market for desiccated coconuts and coconut oil will be confronted with several challenges this year. Low prices, high production costs and volatile edible oil prices impacted trading in the first quarter.
Nuts
Mar 22, 2023
HANOI. Vietnam may have lowered its export target for 2023 but still remains the world's leading exporter for cashew kernels.
Nuts
Mar 22, 2023
TEHRAN. Recent years have been a shock for Iran’s pistachio industry. Although prospects for this year’s production are encouraging, a rebound is not in sight. Climate change is not the only issue here.