W48: Weekly Nut Update
Almond
Spain: The Price Trend for Largueta and Marcona Almonds in Spain Has Remained Constant Since W45 (Nov 29)
Since W45, Spanish almond prices have remained unchanged. According to the Lonja de Albacete, W47 price for the Largueta variety is USD 5.69/kg EXW, and the Marcona variety is USD 7.82/kg EXW. Compared to the 2021 season, there is a 3% increase YoY for the Largueta variety and an 8% YoY increase for the Marcona variety. Meanwhile, in Lonja de Reus, prices in W47 for the Largueta variety stood at USD 5.28/kg EXW and the Marcona variety stood at USD 7.14/kg EXW. These prices correspond to those quoted by the Lonja of Reus in W47 of 2021.
Turkey: Turkish Importers Prefer Spanish Almonds Over Us Almonds Due to Its Lower Price (Nov 29)
Almond importers in Turkey started to stock up on Spanish almonds instead of US almonds because of the price difference between the two origins. The Spanish almond is offered at USD 4.90-5.00/kg CIF Mersin Port by Spanish exporters, while Californian exporters offer almonds at USD 5.30-5.50/kg CIF Mersin Port to Turkish buyers in W47.
Cashew
Tanzania: Farmers Agreed to Auction off 6,690MT of Cashews at the MAMCU Cooperative Union (Dec 2)
Tanzanian farmers agreed to sell 6,690MT of standard-grade raw cashew nuts at the auction conducted on December 2 by MAMCU Cooperative Union at Masasi District in the Mtwara Municipal. The highest bid price was USD 0.86/kg (TZS. 2000), and the lowest bid offer was USD 0.77/kg (TZS. 1800).
Tanzania: Farmers Agreed to Auction off 4,378.5MT of Cashews at the RUNALI Cooperative Union (Dec 4)
Tanzanian farmers agreed to sell 4,378.5MT of standard-grade raw cashew nuts at the auction conducted on December 4 by RUNALI Cooperative Union in the Nachingwea District in the Lindi region. The highest bid price was USD 0.85/kg (TZS 1985), and the lowest bid offer was USD 0.83/kg (TZS 1930).
Hazelnut
Georgia: November Data Shows the Smallest Annual Backlog in Georgian Hazelnut Exports (Dec 3)
The country exported USD 13.3M worth of hazelnuts in November, down from the previous season's November. However, the gap in export earnings between the current and previous seasons is narrowing. During August-October 2022 the value of exports lagged behind the values of 2021 by 30-70%, in December the difference decreased to 17%. Some local market participants are talking about more active demand. The export of in-shell hazelnuts has a higher demand compared to previous seasons. Of the total export revenue in November 2022, 30% came from in-shell hazelnuts. The volume of product exports amounted to 1240 tons, which is 3% higher than in November 2021. The average export price of in-shell hazelnuts improved compared to the previous month from USD 2.80-3.00/kg. The price rose by 3% compared to November last year. 90% of the exported in-shell hazelnuts were sent to Italy.
High energy costs are affecting the demand for hazelnuts from the confectionery industry in Italy, despite the YoY increase in production. Compared to the last 2 years, imports of shelled hazelnuts into Italy have registered a significant decline. From September to October 2022, the imports of shelled hazelnuts from Turkey fell by 23% in terms of volume and 21% in terms of value compared to the same period in 2020. The main alarming drop is registered in comparison to the same period in 2021, when the commercial value of imports was 30% higher.
Turkey: Hazelnut Purchases by the Turkish Grain Board Increased W47 Prices by 10-12% (Nov 29)
The Turkish Grain Board's aggressive hazelnut purchases have raised hazelnut prices on the free market. Prices increased by 10–12% over the last 6–7 days as of November 25. Although the dollar exchange rate offsets some of it, the price increase has a negative impact on export volumes. Suppliers are having a hard time predicting the hazelnut price in the upcoming weeks.
Turkey: TMO Ordu in Turkey Closed the Hazelnut Purchase Centers (Dec 1)
Turkish Grain Board (TMO) closed ten purchasing centers in Ordu when demand decreased. TMO will continue its purchases in 3 centers in Ordu. As of December 1, TMO stopped the purchase of hazelnuts in Akkuş, Çaybaşı, Kumru, Korgan, Kabataş, Çatalpınar, Aybastı, Gölköy, Gülyalı, and Ulubey, which are the purchasing centers it opened in Ordu this season. It was stated that the purchases were stopped due to the shortage of hazelnuts.
Macadamia
Kenya: Kenyan Macadamia Nut Prices Decrease 6% In December (Dec 2)
Kenyan Macadamia nut prices declined 6% in December due to the slow uptake. Global inflation has led to decreasing macadamia kernels prices over the last 3 months. The USD CFR prices for organic and conventional macadamia kernel in major World Ports are as follows:
Kernel Grade, Organic, Conventional
- S1L, USD 16.00/kg, USD 15.00/kg
- S1R, USD 15.00/kg, USD 14.00/kg
- S2, USD 13.50/kg, USD 12.50/kg
- S4L, USD 12.50/kg, USD 11.50/kg
- S6 (All diced + commercial grades),USD 9.50/kg, USD 8.60/kg
Peanut
Argentina: Peanuts Also Need an Incentive for Their Exports in Argentina (Dec 4)
The Argentine Peanut Chamber (CAM) insists on the request to eliminate export duties and fulfill the promises of promotion policies for regional economies. Given the national government's decision to restore the Export Increase Program (PIE), with a different exchange rate to encourage soybean sales, the CAM reiterates the need to consider measures that also allow regional economies to improve their competitiveness in marketing their products abroad.
Egypt: Possibilities of New Peanut Export Regulations in Egypt Cause Concerns Among Suppliers (Nov 29)
The Egypt Agriculture Export Council invited all registered peanut suppliers and packhouses to discuss new regulations for peanut exports to the EU and England on November 27. The potential effect of the regulation on the 2022 peanut season is causing concern among packhouses and suppliers as the peanut harvest is nearing its end and the export season is at its peak.
Walnut
Ukraine: 20% Of Ukrainian Nut Orchards Will Be Organic by 2030 (Nov 29)
During the international conference "Nuts of Ukraine 2022: exchange of experience with Georgia", which took place on November 19, 2022, in Tbilisi (Georgia), the president of the Ukrainian Nut Association, presented the main directions of the strategy for the development of nut production in Ukraine for the coming years. By 2030, organic walnuts will be grown in at least 20% of all areas under walnuts in the country. In 2023, the first batch of organic walnuts will be sent for export.
