Nuts

Pine nuts: world crop about to triple

July 22, 2020 1:52 PM, Der AUDITOR
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BEIJING. Good crop forecasts for the 2020/2021 season are putting pressure on spot prices and there are already offers for the new crop.

Current production estimates

After the disappointing production result in 2019/2020 of just 57,810 metric tonnes, a noticeable increase in yield can be expected in the coming 2020/2021 season, according to data from the International Nut and Dried Fruit Council (INC). The global crop is expected to reach 141,085 metric tonnes, which would triple production compared to last year.

China should have the potential to become the main growing country. It is followed by Russia with 40,000 metric tonnes and North Korea with 35,000 metric tonnes. In European countries such as Turkey and Spain, production is also expected to increase, while Portugal could lose a quarter of its yield.

Pine nut production, in-shell, in mt

Far East

2019/20

2020/21

Diff.

China

14,500

42,000

189.7%

Russia

17,000

40,000

135.3%

North Korea

12,000

35,000

191.7%

Afghanistan

5,000

9,700

94.0%

Pakistan

5,000

9,300

86.0%

Subtotal

53,500

136,000

154.2%

Mediterranean area

2019/20

2020/21

Diff.

Turkey

1,300

1,400

7.7%

Portugal

2,000

1,500

-25.0%

Spain

500

1,250

150.0%

Italy

400

500

25.0%

Others

110

435

295.5%

Subtotal

4,310

5,085

18.0%

Total

57.810

141.085

144.0%

INC Webinar 2020

Price indications for the new crop

Prices have already fallen in recent weeks due to the weak demand caused by the pandemic. In the meantime, Chinese exporters are offering Pinus Sibirica, 950 pcs/100g from USD USD 14,300 per metric tonne CFR Hamburg. Pinus Pumila, 2,200 pcs/100g, 2020 crop are available from USD 9,900 per metric tonne CFR Hamburg for shipments at the end of September.

Pine nuts

Type

USD/mt

Pinus Sibirica, 950 pcs/100g, 2019 crop

14,300

Pinus Pumila, 2,200 pcs/100g, 2020 crop

9,900

CFR Hamburg

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