Sanjoy and Adam are back discussing the currency over the last 2 weeks and a brief update on each of our major products.
Almonds
Market firm after last shipping number which was 41% up. Growers/packers seem pretty happy with their sold position – 50-52% sold and offers have dried up.
Buyers in Europe seem reasonably covered until jan/feb. have to see what china does before their new year.
Cashews
Despite reaching astronomical heights in terms of the prices, we don’t see where new cheaper supply comes from till the Vietnamese new crop. If the market is trading at these levels when new crop opens, we don’t see there will immediate relief then either though of course there should be in the long term.
Walnuts
Good crop on the way and new crop opened about 50 cents lower than where current crop was trading. Market appears to be relatively stable now with seller’s reluctant to drop their prices further.
Brazils
Limited spot stock and Bolivian seller’s withdrawn makes for a firm market.
Pecans
Pricing remains high but better new crop prices are appearing on the horizon.
Hazelnuts
Prices have stabilised around 6% lower than the peak prices at the end of September. Market looks to be in balance
Prunes
USA CROP has big shortfall and they are topping up with Chilean raw material. Big sizes sold out but small sizes still available.
Chilean Raisins
Quantities in Chile are gradually reducing for first grade good quality material and in USD terms we seem to be reaching the bottom level.
Macadamia
Very little offers from all origins and that now would be a good time to cover remainder of this year into start of next year
Sesame
Lack of export demand has resulted in a further slide in offers in sesame.
Pumpkin
Good yields in new crop pumpkin has brought prices on both GWS and shineskin down!
Sunflower
This can’t go any lower from Bulgaria!
Sultanas
Hovering around USD1400/mt levels.
Currants
Rains during drying has sent currants up in price quite considerably. From November we will have South African origin as an option
Apricots
Pricing has remained stable despite rains towards the end of the drying period
Figs
Firmness in the market over the last 2 weeks
Goji
Market is stable. High domestic demand of good quality goji in China. Cheap offers of poor quality, smaller sized goji berries. Prices seems has already reached the bottom level, farmers in China are not willing to sell any cheaper.
Apple
New crop expects to be relatively small, price has already gone up, but market is stable at the moment
Cherries
The Montmorency tart cherry harvest was not as good as originally project, but it was still a good harvest. As with most years, various weather patterns had a negative effect. There were a couple storms with wind and hail that damaged some areas. Other areas experienced really dry stretches.
Blueberries
The blueberry harvest was also a good harvest. As you may know, there are many growing regions in North American. The southeast US did not have a good harvest due to weather. Some attribute this to a very mild winter, with the bushes not receiving enough chill hours. Michigan and the Northwest had a good harvest.