Almonds: Collapse in world prices worries producers
Published Aug 4, 2020
Tridge summary
Overproduction could lower world almond prices.
Original content
The coronavirus crisis has caused almond prices to drop drastically as many countries forecast record harvests. This overproduction would also lead to further price reductions, which is of great concern to nut producers. The production of almonds is actively growing in many other countries including Morocco. The United States and Spain, for their part, are counting on record productions of this agricultural product, which would cause a collapse in world prices, Eastfruit said. At the same time, the coronavirus crisis (Covid-19), as well as the massive loss of traditional sources of income for the populations, in no way stimulates the demand for almonds. Indeed, this nut does not belong to the category of cheap agricultural and food products. In addition, a large part of the nuts are consumed through the HoReCa chain (hotels, restaurants and cafes), which practically ceased to exist for several months in 2020. As a ...
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