2022 End-of-Year Report

Changes in Markets and Climate (Page 3)

Part I - Production and Climate Issues (Page 5)

1.1 A Decrease in Blueberry Production in North America Pushed Prices Up

1.2 China Falls Far Short of Ambitious Macadamia Production Targets

1.3 Climate Change and Late Frosts Threaten Iran’s Pistachio Production

1.4 US Beef Production to Hit a Record, Driven by a Drought-Fueled Cattle Slaughter

1.5 US Tomato Industry Suffers a Year of Dryness

1.6 Shortages of Processed Potato in APAC and Europe Will Continue in 2023

1.7 Olive Oil Production Is Forecasted Down by 23% in the 2022/23 Marketing Year

1.8 Increasing Gas and Energy Prices Will Stifle Oilseed Crushing in Europe, Ukraine, and Elsewhere

Part II - Geopolitical Environment and Trade Regulations (Page 21)

2.1 Extension of the Black Sea Grain Initiative Eases Grain Trade in Ukraine

2.2 Indonesian Pineapple Prices Expected to Increase after Chinese Market Access

2.3 Anti-Dumping Tariffs Impede SA and Brazilian Lemon Juice Shipments to the US

2.4 Ethiopia Sesame Seeds: A Growing Market but Ongoing Civil War May Dampen Growth Efforts

Part III - Demand Trends (Page 29)

3.1 World Nut Demand Dwindles Amid Economic Uncertainty

3.2 US Imports of Frozen Shrimp Decline YoY For First Time in Years

3.3 Demand for Non-Alcoholic Beer Rises Amid Shifting Consumer Trends

3.4 China’s Soymeal Consumption & Imports and Efforts To Cut Down Its Heavy Reliance on Animal Feed

Part IV - Export Trends (Page 39)

4.1 Peru’s Next Grape Season Projected for a Record Volume due to Varietal Diversification

4.2 Exports of Peruvian Mango Expected to Grow by 25% in the 2022/23 Season

4.3 The Rise of Egyptian Grape Exports in 2022, Amidst High Inflation and Increased Production Costs

4.4 South Korean Seafood Export Volume Climbs 26% YoY in Jan-Nov 2022

Part V - Price Trends (Page 47)

5.1 Lower Quantities of Moroccan Clementine Pressures Prices Up

5.2 Oversupply of Almonds Keeps Prices at Decade Lows

5.3 Global Meat Prices Reached Record Highs by Mid-2022, But Are Set to End the Year in a Downward Trend

5.4 FCOJ Prices Rally Amid Record Low Orange Crop in Florida