Please find brief market updates for Almonds, Cashews, Hazelnuts and Dried Mulberries below. We will continue to publish latest dried fruits and nuts industry news and our comments at our blog.
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October California almond shipments report published last week with a record breaking data. Shipments were extremely good, +45% compared to October 2015.
Due to all time high shipments data which shows a big demand, we see an increasing trend. Prices came back a bit after an increase, but during November or maybe until mid-December we expect market to stay firm.
Hazelnut prices are in a decreasing trend since couple weeks, farmers are extremely unhappy as the efforts to increase prices by keeping their stocks on hand did not work as they expected. Farmers and farmer organizations want government to take action and regulate the hazelnut market, so far no positive responses at government side.
2016 crop hazelnut (inshell) prices started at 11.25 TL / kg and reached almost 15.00 TL / kg. Right now inshell price is at 10.00 TL / kg and with the effect of a weak Turkish Lira (USD/TL 3.28 – EUR/TL 3.53) we see around 30% lower prices than end of August for hazelnut kernels (shelled).
We suggest importers to book their needs without losing time as the hazelnut market is at reasonable levels now and it is uncertain how it will develop. We expect delayed demand in Europe will come in next days and will see the market reaction accordingly.
Cashew prices continue to increase every day and demand is not coming down either. Cashew nut demand jumped 53% since 2010 and growing every year.
Last week it’s been declared that 11% decrease forecasted for cashew crop in Vietnam. However, 2/3 of total amount processed in Vietnam coming from other countries so bad Vietnam crop should not have a strong effect on prices in a long term.
Markets are crazy high and supply is also limited. We do not expect decrease on prices until early 2017 and it is very up to new crop forecasts as well. Prices may stay high or even go higher if we do not receive good crop info from other origins. We suggest buyers to only reserve goods they need in a short term and not take any long term position at these levels.
Dried Mulberry market prices are stable and we don’t expect any price fluctuations until new harvest. As mentioned earlier, crop size in Turkey is good altough berries are darker in general due to rainy weather at crop time.
Demand for Dried Mulberry is also not so fast, we see that especially organic dried mulberry buyers are concerned about chemical usage and try to be careful about their sources (See our detailed post about H2O2 usage on mulberries).