Rabobank report upbeat on U.S. fruit and tree nuts

A recent Rabobank report titled 'Fruit At Sea: Navigating the Storm' offers an optimistic outlook for U.S. fruit and tree nut producers in the 2023-24 season, highlighting improvements in input prices, water outlook in California, and logistical challenges. The report underscores the decrease in global fertilizer prices, which have lessened the burden on fruit and tree nut producers, alongside expected falls in potash and phosphate prices. The season is expected to see lower costs for specialty inputs, improved yields, and increased productivity, subject to market fluctuations. Additionally, the report addresses the downturn in U.S. fresh fruit exports and the challenges they face, such as increased competition and logistical issues. In contrast, U.S. tree nut exports have shown resilience, with notable growth in almond, walnut, and pistachio exports, despite some setbacks. The article also touches on the potential impact of weather conditions on upcoming crops, underscoring the unpredictable nature of the agricultural market.