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Brazil nuts: anticipation grips market

January 12, 2022 4:33 PM, Der AUDITOR
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SUCRE. After production proved disastrous in 2021/2022, hopes are high that things will improve in 2022/2023. Heavy rains may, however, be decisive. Anticipations for the new crop have also hit Europe.

Rain has no impact yet

Harvesting is underway in the rainforests in Bolivia, Peru and Brazil. The International Nut and Dried Fruit Council (INC) reckons that shelling will start in March. Production should improve markedly over the disastrous 2021/2022 season when inshell production declined by 40% in Brazil and by nearly 19% in Bolivia. Chelmer Foods, however, emphasises the importance of the weather conditions, especially since heavy rains have been reported in both countries. Floods have, however, not occurred so far and transport has not been impacted.

Nominal price declines

Trading is rather subdued at the start of the year and attention has shifted towards the new crop. Suppliers are refraining from issuing reference prices from the new crop until production can be better assessed. As the new crop will arrive in the next few months spot market prices have declined in Europe with large Brazil nuts from Peru trading at USD 11.38/kg FCA Spain (EUR 10.09/kg).

Brazil nuts, shelled

Size, Peru

USD/kg

Large

11.38

Medium

11.20

Midget

11.10

FCA Spain

 

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