Almond

Spain: The 2022/23 Spanish Almond Campaign Is Difficult With Low Prices Despite a Poor Harvest (Jan 18)

The Spanish almond sector is in a difficult situation for the 2022/23 campaign. This includes a lower almond harvest compared to 2021/22, with losses ranging between 30-50% due to spring frosts, drought, high temperatures, and lower prices. The situation is exacerbated by the rise in production costs brought on by the Russia-Ukraine war. Furthermore, the primary cause of this dire situation is the absence of commercialization activities for conventional and organic almonds, despite the fact that the Christmas season typically sees the highest levels of commercial activity because almonds are a necessary ingredient for the production of Christmas treats like marzipan, nougat, and shortbread.

While marketing the estimated 62K MT of almond kernels produced in Spain presents great challenges, imports of American almonds, which are sold without being required to state their country of origin on the label, are constantly rising. In this sense, it should be noted that the EU is the first destination for California almonds accounting for 40% of the total imports. According to a report from the United States Department of Agriculture (USDA) for 2020/21, the US estimated exports of 287K MT.

United States: US and EU Sign Tariff Quota Agreement for Agricultural Commodities Market (Jan 17)

The United States and the European Union signed a tariff quota agreement (TRQ) to preserve existing access to the European market for agricultural commodities following the UK's departure from the bloc in 2021. The agreement is forecasted to restore favorable market access for several US products including almonds. 

Cashew

Nigeria: Nigeria Should Expect Increase in Cashew Output Due to Favorable Weather (Jan 20)

Nigeria’s cashew output is forecasted to rise due to favorable weather conditions during the season. Around 280K metric tonnes are expected from Nigeria in 2023, maintaining their usual or slightly more volume.

Tanzania: 154,262MT of Raw Cashew Nuts Were Sold in Tanzania for the 2022/23 Season (Jan 16)

According to the Cashew Board of Tanzania, 154,262MT of raw cashew nuts were sold out in Tanzania as of December 19, for the ongoing 2022/23 raw cashew nut season, worth USD 125M. Due to the cold and rain that occurred in 2022, the season, which started in the final week of September, sold a lower volume of cashew compared to the 2021/22 season of about 200K MT.

Tanzania: Tanzanian Farmers Agreed to Auction off 343MT of Cashews at the TANECU Cooperative Union (Jan 16)

Tanzanian farmers agreed to sell 343MT of standard-grade raw cashew nuts at the 13th auction conducted by the TANECU cooperative union in the Tandahimba District. The highest bid price was USD 0.69/kg (Tsh. 1605), and the lowest bid offer was USD 0.69/kg (Tsh. 1604). Meanwhile, the MAMCU Cooperative Union announced it would end the season during its 11th auction, the last one conducted on January 6, 2023.

Tanzania: 308.8MT of Cashews Were Auctioned Off at the TAMCU Cooperative Union in Tanzania (Jan 17)

In Tanzania, 308.8MT of cashew nuts were sold by TAMCU Cooperative Union in the 10th auction held at the TAMCU warehouse in Tunduru on January 13, 2023. Only one company came forth to buy 151.4MT of second-grade cashews at a price of USD 0.57/kg and 157.4MT of first-grade cashews at USD 0.69/kg. TAMCU Cooperative has held nine auctions, and a total of 14,380MT worth USD 10.68M have been collected and sold to various companies. However, the number of cashews produced in the 2022/23 season is half the production of the 2021/22 season, which was more than 25K MT. This season's low production is caused by adverse weather conditions, especially during the early fruit-bearing stages.

Vietnam: Vietnam Is Currently the Largest Source of Cashew Nuts for the US and China (Jan 21)

The General Department of Customs reported Vietnam's cashew exports in December 2022 reached 46.9K tons, worth USD 269.1M. In 2022, cashew exports reached 519.7K tons, worth USD 3.08B USD, a decrease of 10.3% in volume and 15.1% in value compared to 2021. During 2022, Vietnam's cashew exports will not reach the set target of USD 3.2B. In December 2022, the average export price reached USD 5,734/ton, an increase of 1.0% compared to November 2022 but a decrease of 6.8% compared to December 2021. In 2022, the average export price of Vietnam's cashew nuts reached USD 5,938 per ton, down 5.4% compared to 2021.

Hazelnut

China: Market Price of Turkish Hazelnuts in Chinese Market in W3 (Jan 18)

In China, the market price of hazelnuts in W3 stood around USD 8.59-8.88/kg (RMB 58-60/kg) for first-grade Turkish hazelnuts. Color, Skin, and moisture level are the top considerations for the buyers to choose the products.

Turkey: The Hot Weather Worries Hazelnut Producers in Turkey (Jan 18)

The hot weather worries hazelnut producers. If there is not enough snow during 2023, the quality of the hazelnuts may decrease. In Ordu, the air temperature rose to 15 degrees, and the expected snowfall did not occur.

Turkey: Hazelnut Price in Turkey Increased USD 3.27 (Jan 19)
In Ordu, the price for hazelnuts increased for 50 yielding shells traded at USD 2.92 (TRY 55) during W3. According to the yield, the prices are as follows; 50 yields USD 2.92 (TRY 55), 51 yields USD 2.98 (TRY 56.10), 52 yields USD 3.04 (TRY 57.20), 53 yields USD 3.10 (TRY 58.30), 54 yields USD 3.16 (TRY 59.40), 55 yields USD 3.22 (TRY 60.50), and 56 yield USD 3.27 (TRY 61.60). There is a 2.1% withholding tax and stock market deduction in hazelnut trading.

Pine nut

Russia: Pine Nut Exports From Siberia Doubled in 2022 Due to Good Yields (Jan 19)

In 2022, Siberian enterprises sent almost 10K tons of pine nuts abroad, mainly to China. The Siberian Customs Administration reported, in 2022, the weight of pine nuts exported by Siberian enterprises increased by 2.3 times compared to 2021, amounting to 9.5K tons. The value of exports increased by 46% over the year. 

Pistachio

Turkey: Italy Is the Main Importer of Turkish Pistachios in 2022 (Jan 16)

Turkey exported 19.1K tons of pistachios worth USD 181.13M to 104 countries in 2022. The list of importers includes such countries as Italy, Germany, Kyrgyzstan, the Netherlands, Jordan, UAE, Sweden, China, Qatar, Singapore, Nigeria, Malaysia, Japan, Cuba, Senegal, and Ireland. Italy is the main importer of Turkish pistachios.