Almonds: turnaround takes market by surprise
June 29, 2020 at 11:55 AM ,
Der AUDITOR
... on end it seemed as if the downward turn in the market could not be stopped. Now, however, the opposite is the case as prices are rising sharply. Valencia almonds are, for instance, trading EUR 0.20-0.30 per kg higher than last week in Spain and US almonds are also trading higher. This rise is prompted by revised production estimates for the US. Production is now only estimated at 1.18-1.27 million metric tonnes rather than 1.36 million metric tonnes.
|
Almonds |
|
|
Type |
EUR/kg |
|
Valencia, 12/14 mm, natural, Spain |
4.30 |
|
Valencia, 12/14 mm, blanched, Spain |
5.10 |
|
California, SSR, 27/30, natural, USA |
4.20 |
|
Carmel, SSR, 27/30, natural, USA |
4.20 |
|
Almonds, diced, USA |
4.60 |
|
Almond meal, blanched, USA |
4.40 |
|
FCA Spain |
|
Spain set to replace Australia as number two
The revised estimates were only issued after the INC webinar on almonds had already made the rounds. Here, US production estimates still ranged at 1.36 million metric tonnes, around 22% more than in 2019. Nevertheless, it should be noted that even the downward revision to 1.18-1.27 million metric tonnes still ranges 60,000-150,000 metric tonnes high than last year's production. California still has the potential to set a record. In how far the recent rise in prices is sustainable, therefore, remains to be seen.
In shell production is, in addition, expected to rise to 106,000 metric tonnes in Australia. Spain most certainly has the potential to become the world's second largest almond producer this season, that is if production falls in line of expectations, which range at 115,600 metric tonnes.
|
Top 3 almond producers (without shell in mt) |
|||
|
Country |
2019/20 |
2020/21 |
Diff. |
|
USA |
1,115,375 |
1,360,777 |
22.0% |
|
Australia |
103,300 |
106,000 |
2.6% |
|
Spain |
90,000 |
115,600 |
28.4% |
|
INC Webinar June 2020 |
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View more information
- price chart, almonds. natural. 18/20, Valencia
- price chart, almonds, natural 27/30, Largueta
- price chart, almonds, blanched, 27/30, California SSR- more price charts
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