Market report nuts and peanuts
After the holidays, the almond market came into action again with a renewed demand. Consequently the prices have increased somewhat. We do not expect any spectacular changes on the almond market in the next few weeks.
The market for cashew nuts was very quiet at the end of 2017; both demand and supply is limited and it is expected that this will remain the case for the first two months of 2018 as well. The active buyers are looking for products of high quality, with relatively high but stable prices as a result.
We have heard variable news about the new harvest; the volume appears good, but the quality seems less so. From the Vietnamese cashew nut market we hear that the factories are focusing more on quality than volume; we still have to see what consequences will come from this.
As generally applicable for all Turkish products, we observe increased prices as a consequence of the exchange rate of the US dollar vs. the Turkish Lira. Additionally, it is expected that the prices will stay relatively high and possibly even increase some more.
The first news regarding the new crop yield is that it is 20% smaller in volume than normal. But the good news is that it is still bigger than last year’s and at the moment we therefore seen a substantial drop in prices.
The price for pecan nuts is currently quite high, but the positive exchange rate of the US dollar / Euro makes up for it considerably in this case. It remains unsure whether prices will decrease in the foreseeable future. The current price and expectation of the harvest is the same as last year’s. The current crop yield is completely sold out.
The market for Chinese peanuts is currently weak. It is expected that the prices will remain at the current level as it is virtually equal to cost price. Should the demand for Chinese peanuts increase, we believe these prices could increase rapidly, as traders retain only a small stock. From a quality perspective the 2017 crop yield seems better than the previous one. However, the availability of extra large peanuts does pose a problem this year.
The availability of Iranian pistachio nuts is extremely limited at the moment and the supplier can only provide for the following two months. The large versions in particular are very hard to obtain.
As indicated in the last market report, the price for American pistachio nuts has increased as expected and this is also what is happening at the moment. Our supplier indicates that the market is difficult at the moment (Californian pistachio nuts sold out), leading to increased prices.
Walnuts from Eastern Europe are currently available in abundance from various countries. It is possible that we will observe increased prices in the next few weeks as the demand from Turkey is increasing significantly at the moment. The second shipment of walnuts from Ukraine will be delivered to us this week.
We observe relatively high prices in the American walnut market and it is expected that these will remain stable until the new harvest in August/September.