Pine nuts: INC sticks to estimates

November 18, 2019 at 11:14 AM , Der AUDITOR
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PEKING. Although the latest INC estimtes state that production has risen considerably in China, traders report that demand is also very high.

Reduced supplies for the export market

Market players in China are buying additional supplies in Russia. Problem is that supplies in China are very much limited. The preparations for the Chinese New Year celebrations have notable pushed up domestic demand and have thereby cut back supplies for the export market. Supplies of large kernels are particularly limited, wheras smaller kernels (1,500 count) are still on offer. Prices are consequently expected to rise.

Global production set to exceed 83,500 metric tonnes

The INC production estimates issued in November remain unchanged to the estimates issued in spring. North Korea and Mongolia are no longer included in the production estimates for this season. Nevertheless, the rise in production in China is said to have prompted an increase in global production this year.

In-shell production in mt

Far east

2018/19

2019/20

Diff.

North Korea

16,000

n.a.

n.a.

China

8,750

45,000

414.3%

Russia

21,150

16,000

-24.3%

Afghanistan

6,000

5,000

-16.7%

Pakistan

6,000

5,000

-16,7%

Mongolia

n.a.

n.a.

n.a.

Subtotal

57,900

71,000

22.6%

Mediterranean

2018/19

2019/20

Diff.

Turkey

1,500

3,000

100.0%

Italy

5,760

2,600

-54.9%

Portugal

2,000

4,500

125.0%

Spain

1,000

2,400

140.0%

Others

160

160

0.0%

Subtotal

10,420

12,660

21.5%

Total

68,320

83,660

22.5%

INC, November 2019

 

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