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Tridge Analysis

W3: Weekly Nut Update

Tridge's global market analysts and country representatives take a deep dive into what happened during W3 in the global nut landscape including almond, cashew, hazelnut, pine nut, and pistachio. In summary, the Spanish almond sector is in a difficult situation for the 2022/23 campaign, with a lower harvest compared to 2021/22. The United States and the European Union signed a tariff quota agreement (TRQ) to preserve existing access to the European market for agricultural commodities. In Nigeria, the cashew output is forecasted to rise due to favorable weather conditions during the season. In Tanzania, 154,262MT of raw cashew nuts were sold out as of December 19, for the ongoing 2022/23 raw cashew nut season, worth USD 125M. At the 13th auction, 343MT of standard-grade raw cashew nuts and 308.8MT of cashew nuts were sold at auctions. In Vietnam, cashew exports in December 2022 reached 46.9K tons, worth USD 269.1M. On the other hand, in China, the market price of hazelnuts stood around USD 8.59-8.88/kg (RMB 58-60/kg) for first-grade Turkish hazelnuts. In Turkey, hot weather worries hazelnut producers. In Ordu, the price for hazelnuts increased for 50 yielding shells traded at USD 2.92 (TRY 55). In Russia, in 2022 Siberian enterprises sent almost 10K tons of pine nuts abroad, mainly to China. Lastly, Turkey exported 19.1K tons of pistachios worth USD 181.13M to 104 countries in 2022.
Xchel Perez · Jan 27, 2023
Raw Hazelnut
Raw Pistachio
Tridge Analysis

W3: Weekly Onion Update

Tridge's global market analysts and country representatives look into what happened in W3 in the global onion landscape. In summary, in the United States, due to the cold weather conditions affecting the harvest volume of yellow onions in Sinaloa, prices for this commodity increased. In Belgium, the price of onions increased due to crop failure, onion stocks are limited, and the large sizes required for processing are scarce. In Kazakhstan, authorities have decided to ban the export of onions for three months to prevent mass export and to stabilize their prices, and Kazakhstan and the Khatlon region of Tajikistan are ready to expand cooperation in the supply of Tajik agricultural products. In Moldova, the average wholesale price for onions has increased by 12% in W1 and W2. In New Zealand, the onion harvest has been delayed by 2-3 weeks due to rainy weather. Peru exported 39.1K tons of sweet yellow onions, from July to December 2022. In the Philippines, the increased onion prices now cost more than beef due to a confluence of crop shortages, smuggling, and hoarding. On the other hand, in W2, Ukrainian producers actively raised selling prices for onions, but during W3, they had to lower their prices. Lastly, in Uzbekistan, onions reached USD 0.71 (UZS 8,000) for small wholesale lots. Uzbekistan announced the establishment of a temporary restriction on the export of onions for four months, starting from January 1, 2023.
Xchel Perez · Jan 26, 2023
Fresh Onion
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