In this episode, our trader Adam Johnston talks about the latest developments with hazelnuts and apricots.

Hazelnuts

Hazelnuts continue to be highly priced, and the estimates of the new crop are around 64000 tonnes, which is about average and much better than last year’s crop. Each day sees that number increasingly slightly. Good, settled weather in Turkey and any earlier damages to crop with weather seem to be recovered. How will this all affect demand and supply?

Apricots

The first estimates for the apricot crop around 85,000 tonnes. Not a great crop, but much better than last year. Prices rose initially in April after some frosts, but new crop estimate pricing has weakened slightly but demand is expected to be high. Arrival of new crop into UK estimate to be around end of October, a little bit later than usual. We expect the 2013 crop to be completely sold out by the middle of July. Strong demand already for new crop material.

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An average apricot crop is in the region of 100,000-120,000 mtons but this years crop is expected to be below the 100,000 mtons level.

Weather forecasts are showing high temperatures and sun in Malatya over the next 10 days and the progress of the crop in May will give a much clearer picture about the size and quality of the new crop.

No carryover is expected from the 2014 crop and the last volumes are expected to be snapped up by July. There will be huge demand on new crop at the start of the season so we would expect prices to come off after initially starting off high.

The first shipments of new crop are likely to take place after 15th August which is due to the crops late bloom. It looks like late July/early August shipments will not be possible.

Report by Adam Johnston

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In this episode, we try to fit in as much as possible for you. We discuss the recent surge in almond prices in response to the higher demand. Moreover, we analyse the effects the recent drought in Turkey has had on the 3 main crops we trade – sultanas, hazel nuts and apricots.

We also talk about the importance of the brazil nut tree, endemic to the Amazon rainforest. About 1% of all the tree species in the Amazon account for half of the carbon locked in the rainforest, a Nature Communications journal has estimated. study has estimated. The Brazil nut tree is dense, occupying a huge biomass and thrives best in the dense rainforest.

Also the major development has happened in the nut industry. At the AGMs held at the Queenâ€s Club, London, on Friday 24th April 2015, the Combined Edible Nut Trade Association and the British Peanut Council formally joined together to form The Nut Association Limited. We talks about these developments in the latest episode of Freeworld News.

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