Nuts

Brazil nuts: positive prospects for the new crop

January 27, 2022 2:44 PM, Der AUDITOR
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LIMA. The harvesting process in the South American rainforests has begun and market players report a good yield and high quality so far. However, the hoped-for price reductions remain questionable.

Bolivia struggles with labour shortage

The harvesting process in the Latin American rainforests has now begun and, as the experts from Chelmer Foods report, the yield seems to be significantly higher than last season. First processors also report good quality. In Bolivia, however, the labour situation remains tense, with many pandemic-related outages and restrictions in factories, as well as among farmers and packers, the entire supply chain is facing enormous difficulties.

Hardly any goods left

Various sources such as Chelmer Foods and Antares Commodities indicate that availability on the spot market remains very low, which will drive prices up further. According to these sources, most customers hold only small stocks. This should mean that prices for the new crop will not fall as significantly as usual, despite the higher crop volume.

Brazil nuts

Size, orgin

EUR/kg

Large, Peru

9.75

Medium, Peru

9.63

Midget, Peru

9.55

FCA Spain

Delivery problems will persist

Experts also agree that delivery problems will persist in 2022. There are few empty containers for shipment and freight rates are over USD 5,000 for a 20' FCL, pushing already high prices even higher. Antares Commodities also states that cargo ships are operating less frequently, which will further disrupt the supply chain. Although customers are only stocking up on the essentials at the moment and hope for price reductions in the coming months, the extent to which this hope will be fulfilled remains to be seen.

German imports remain stable

German Brazil nut imports remained stable in the period September-November 2021 and are only subject to a nominal increase of 0.4%. It is clear, however, that Peru was displaced from second place among the most important suppliers because the Netherlands was able to increase its exports to Germany by a good 3,400% to 176 mt. However, Bolivia, which supplied 1,928 mt of Brazil nuts to Germany in the aforementioned period, remains unchallenged in first place by a wide margin.

Brazil nut* imports, Germany, in mt

Country

2020/21

2021/22

Diff.

Bolivia

2,123

1,928

-9.2%

Netherlands

5

176

3,420.0%

Peru

149

137

-8.1%

Spain

0

45

-

Brazil

9

8

-11.1%

Others

3

5

66.7%

Total

2,289

2,299

0.4%

Federal Statistical Office of Germany / Sep-Nov

*08012200 Fresh or dried brazil nuts, shelled

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