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26.01.2018

Nuts Report – 2018 –

• ALMONDS •

The Californian almond board reported another record for the November shipments. A surplus of 30,9% has been quoted in comparison to the same period last year, resulting in a total year to date shipment figure of plus 7,7%. The market reacted directly after the publication of these figures with a price increase of roughly 5/10 cents per lb. With regards to the new crop, rumours are spread about a lack of rain in California. The actual impact remains to be seen, keeping the existence of water reservoirs in mind. Based on the comfortable position in which Californian shippers have found themselves this season so far, is a price decrease not expected in the nearby period.

• WALNUTS •

Eastern Europe: The market continued at a firm level during the start of 2018, as a new factor came into play. The Turkish government decreased the import taxes for walnuts significantly, from 43,2% into 15%. This is expected to put more pressure on the available product, mainly shipped by Turkish traders / handlers based in Ukraine. As a result, prices for European import (mainly from Romania and Moldova) are slightly increased as well. It remains to be seen whether this price increase will be justified by the increased demand from Turkey. So far, the price increase on quarters seems to be in line with the low availability of material. Prices for halves are still disputable, as we’ve seen several factors whom indicate large availability and pressure at sellers to move some product. Covering nearby needs is advised, as a price decrease isn’t expected on the short term.