Nuts

Brazil nuts: no sign of sluggish demand in EU

October 9, 2023 at 9:29 AM , Der AUDITOR
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BRUSSELS. Trading was slow to pick up in the current crop year, but demand has certainly revived in recent months, especially in the EU.

Dynamic shift

As the 2022/2023 season started off with large carry-over supplies in many destination countries local processors decided to play it safe in South America and only purchased limited volumes of raw nuts. Exports in general slumped in most producing countries between January and June. Yet, low prices eventually attracted buyers and the market started to turn in the third quarter. Buyers and sellers will negotiate contracts for the new crop in November-December.

Buyers enjoy low prices in EU

Brazil nuts have been highly attractive for buyers in the EU this year so far. While the import volume is 12% higher as compared with last year, the import value ranges 30% lower at EUR 50.94 million than the 72.54 million recorded in the same period in 2022. Bolivia accounts for as much as 87% of the EU’s total imports, followed by Brazil with only 7% and Peru with 6%. Prices for medium-sized Brazil nuts from Peru, in fact, surged in September and have currently declined a bit to EUR 6.30/kg (USD 6.62/kg) CIF Spain. Germany is the main importing country within the EU accounting for 50% of all imports. Next in line are the Netherlands with 35% and Spain with 5%.

EU Brazil nut imports (kg)

Country

2022

2023

Diff.

Bolivia

7,558,994

8,377,768

10.8%

Brazil

577,357

642,118

11.2%

Peru

355,619

582,381

63.8%

Chile

95,633

31,768

-66.8%

UK

1,654

4,056

145.2%

China

29

2,046

6,955.2%

Canada

756

1,108

46.6%

South Africa

-

675

-

USA

496

24

-95.2%

Vietnam

-

10

-

Others

16,202

13

-99.9%

Total

8,606,740

9,641,967

12.0%

DG Taxud Customs Surveillance system, provisional data, 01/01-05/10
HS Code 08012200 – Fresh or dried brazil nuts, shelled

 

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