Almonds: low prices fail to attract buyers
December 11, 2023 at 10:25 AM ,
Der AUDITOR
Exports down in Spain
Low prices have failed to attract buyers as local suppliers report. Exports, in fact, ranged 16% lower in August to September as compared with the same period last year. Spain’s top ten export destinations are exclusively located in Europe with France, Germany and Italy taking the lead. Shipments to all destinations have dipped with the noted exception of the Netherlands and Austria. Prices indeed slumped in August with natural 12/14 mm Valencia almonds quoted at EUR 3.45/kg CIF Spain at the end of the month. Although they have been on the rise since, they are a far cry from the high levels witnessed last year.
Almond exports, Spain (in mt) |
|||
Destination |
2022 |
2023 |
Diff |
France |
6,587 |
4,703 |
-28.7% |
Germany |
5,037 |
4,566 |
-9.4% |
Italy |
4,608 |
3,710 |
-19.5% |
Portugal |
1,125 |
917 |
-18.5% |
UK |
900 |
759 |
-15.7% |
Netherlands |
576 |
736 |
27.8% |
Poland |
823 |
614 |
-25.4% |
Belgium |
737 |
581 |
-21.2% |
Austria |
262 |
522 |
99.2% |
Switzerland |
532 |
449 |
-15.7% |
Others |
4,220 |
3,674 |
-13.0% |
Total |
25,407 |
21,231 |
-16.5% |
Ministry of Industry, Tourism and Trade, Spain, 01/08-30/09 |
Domestic demand a worry in California
Olam’s most recent Global Market & Crop Report highlights that hullers and shellers will be busy processing the late US crop until the end of the month. Although some varieties have been difficult to come by in recent weeks, supplies are improving, and November shipments should come in strong. The Almond Board of California will release the November Position Report on 12 December, which will provide a better idea of this year’s crop size. Yet, domestic demand is a worry as inflation has prompted buyers to spend more cautiously on staple goods. Christmas sales have been concluded and Chinese New Year sales are also wrapping up.
View more
- price chart, almonds, natural, +14, Valencia
- price chart, almonds, natural 13/14, Largueta
- price chart, almonds, blanched, 27/30, California SSR
- more price charts