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Market Reports

Almonds

November 20, 2020

The latest update on the almond market, including bullish and bearish trends.

Cashews

November 17, 2020

Updates on the global cashew market, including bullish and bearish trends.

Sesame

August 2020

News of sesame sowing in Indian, Chinese, and West African origins.

Edible Nuts

October 2020

The latest information about global markets for almonds, cashews, pistachios, walnuts, macadamias, quinoa, and chia.


Almond Market Report - November 20, 2020

We have received some all-important rainfall over the last few days.  It is a welcome change and we already can see a major difference to the air quality in California following a difficult fire season...


Almond Market Report - November 13, 2020

The market remained relatively quite this week once more with anticipation of yesterday’s shipping report.  There was some last minute business done as buyers took further positions prior to the report...


Almond Market Report - November 6, 2020

November has quickly sprung upon us. With daylight saving time, the clocks are rolled back and the days are short again.  The almond market has been quiet once again throughout most markets this week.  We as processors are very busy producing, packing and shipping everything possible to meet current demand and deadlines for November and through December.


Almond Market Report - October 29, 2020

Just when we were feeling the worst of the wildfires were behind us, another major one breaks out.   We had some winds this week that reportedly reached over 79 miles per hour causing a fire that has so far resulted in over 50,000 people evacuated in the southland...


Almond Market Report - October 23, 2020

We are having a long summer in California.  With this extended hot and dry weather, the harvest has been uneventful in terms of no issues with rain.  This has helped with the extended harvest period needed to bring in this large crop.  As I drove from Northern California to the South today, it was evident that harvest is all but complete now...


Almond Market Report - October 16, 2020

California can finally say that we have our wildfires under control.  We have seen the air quality throughout the state show marked improvement over the weekend, and it continued to improve all week.  It is a welcome sight after 6 weeks of fires and smoke.  With over 1.2 million acres of almonds, the harvest does not happen overnight.  Having said that, deliveries of the later varieties to the huller/shellers continue. This should all but be completed within the next ten days...


Almond Market Report - October 8, 2020

The California wild fires remain on everyone’s mind this week, as Pacific Gas and Electric announces additional power cut offs to over 200,000 residents (North East region of the state) throughout the “danger zone” for several days to come.  This is meant as a precaution that has it’s own political consequences considering its effectiveness thus far.   Our air quality remains for the most part unchanged with poor to moderate levels depending on your location in the state and which way the wind is blowing...


Almond Market Report - October 1, 2020

We had a small window of time last week with relief from the smoke, but it was short lived.  Two major fires erupted over the weekend.   Once again we have had uncontrolled fires burning through Napa, causing destruction and evacuations in the region.  Readings on the trusty phone app show severe outdoor air quality.   The sun is once again muted as we experience heavy discharge of smoke and ash reminiscent of last year and the year before.   Yes, it is becoming all too common of an occurrence...


Almond Market Report - September 25, 2020

We are finally starting to see some blue skies here in California as the weather changes to fall-like conditions.  Higher dew points in the mornings are helping to slow the fires and clear the sky.   There was some rain in the southern part of the state over the weekend also helping to subdue the fires.  While there is still a haze in the sky it is nothing like it was just a few days ago.  We remain appreciative of what we have...


Almond Market Report - September 18, 2020

The wildfires continue to rage out of control in many areas of California along with Oregon and Washington.  Our prayers go to all the families affected by the fires and the souls that have been lost.  Special thanks to the brave women and men firefighters and support crews that are fighting to protect us.  With the amount of smoke and particulates in the air we have actually seen temperatures fall several degrees, which has slowed down the natural drying process that occurs after shaking the trees while the almonds lay on the ground...


Almond Market Report - September 11, 2020

For those of us in California the wildfires remain centerstage, as our skies across the state are filled with smoke and ash.  There is literally nowhere to hide from it or any area that has not been impacted.  But, we are resilient and hope our lungs will be as well.  

The Almond Board released the August shipment report this morning, marketing the first month of shipments for the new crop year 2020...


Almond Market Report - September 4, 2020

The temperatures in California's Central Valley moderated down to the low 60’s at night and highs of low 90’s this week.  This is allowing the firefighters to take advantage as they start to get a grip on the fires still burning, now closer to a 50% containment in most areas.   Unfortunately, it will be short lived as temperatures are forecast to reach as high as 109 by Sunday throughout the greater part of the growing region...


Almond Market Report - August 28, 2020

California wildfires continue to rage on and everyone throughout the state is affected and experiencing significantly poor air quality.  Yet the harvest must go on, and on it goes.   Temperatures throughout the state have moderated, but we do expect temperatures to remain in the mid to high 90’s for the next 10 days.


Almond Market Report - August 20, 2020

California is experiencing a heatwave that is prolonged and more intense than anticipated.  This has been ongoing for the last five days and is expected to continue for the next 7 to 10 days with temperatures in excess of 100 degrees each day.  It has been widespread and exceeds records set over a decade ago.  We also saw rain in various regions of the state over the weekend as well.  Only time will tell any effect it may have on harvest...


Almond Market Report - August 5, 2020

As of this week, harvest has begun on a small scale in most southern valley regions.  Each day we will see more and more harvesting until fully ramped up throughout all growing regions.  Soon the hullers / shellers will also start running at full capacity.


Almond Market Report - July 23, 2020

On July 7th the objective estimate of 3.0 billion pounds was reported, we received the June position report from the Almond Board of California a few days later on July 10th.  The industry managed to ship 175 million pounds, up 6% from last year’s 165 million pounds. This does reflect the easing of the lockdowns in many of the shipping destinations around the world...


Almond Market Report - July 8, 2020

This week brought great anticipation of the 2020 USDA’s NASS Almond Crop Objective Estimate.  This year the estimate was directly in line with the growers Subjective Estimate of 3.0 billion pounds.  This leaves little doubt or question in anyone’s mind, we will have a record crop!  Based on the current estimate of 1.26 million bearing acres, this represents an average yield per acre of 2,380 lbs...


Almond Market Report - July 2, 2020

Since the first of the year and the onslaught of COVID-19 that soon followed, we have seen the almond market continue to weaken.  For the first time since, we have finally seen the market firm up modestly over the last two weeks...


Almond Market Report - June 26, 2020

Growing conditions have remained excellent while we move closer to harvest, with the earliest areas just weeks away now.

With the objective estimate coming out on July 7th, the market has continued to stabilize.  Expect to see the market remain stable up to the estimate...


Almond Market Report - June 2020

The Almond Board released the May position report on Thursday, June 11th. Key highlights as below...


Almond Market Update - June 12, 2020

This week brought more of the ideal growing conditions expected for this time of the year.

We are starting to see many markets opening up, or at least start signaling target dates to re-open, and this has inspired trading activity throughout the Middle East and Turkey.  The EU has remained relatively quiet up to now.  However, there is signaling that there is pent up demand as local stocks are all but depleted...


Almond Market Update - June 3, 2020

California weather continues to remind us all why we love it so much!  Plenty of beautiful sunshine and warm days so far, with more ahead of us.

The Almond Market continued to remain relatively quiet this week following various holidays in many of the major markets, this certainly being the case for both the EU and US Domestic...


Almond Market Update - May 28, 2020

California went from rain, hail and snow last week, to temperatures peaking above 105 degrees today.

The Almond Market has remained relatively quiet this week following various holidays in many of the major markets...


Almond Market Update - May 21, 2020

California saw an unexpected weather pattern emerge this week with widespread rain, hail, and even some snow in the Sierras.  A welcome sight to be sure.

The Almond Market was relatively quiet this week.  With holidays around the globe in some places and lock downs still in effect in others, we saw little activity.  Business continues to be hand to mouth...


Almond Market Report - May 2020

The Almond Board released the April position report on Tuesday, May 12th. Key highlights as below...


Almond Market Update - May 13, 2020

The past few days were very exciting in the almond industry.  Both the April Position Report and the NASS Subjective Estimate were released Tuesday.

The subjective estimate for the 2020 crop exceeded expectations at 3.0 billion pounds.  As 2.96 billion pounds had already been mentioned weeks earlier, the market had somewhat already factored this in...


Almond Market Update - May 6, 2020

This week brought more beautiful weather to California and the sun shined brightly on the almond orchards.  While there has been some reports of more drop (trees shedding some almonds) than normal, an excellent crop remains expected.  Next Tuesday is a big day as both the subjective estimate and the April position report will be released...


Almond Market Update - May 1, 2020

The almond growing season continues on with ideal weather conditions thus far.  We edge closer to the USDA subjective estimate of the 2020 crop scheduled for May 12, 2020, the same day as the Almond Board's position report for April shipments...


Almond Market Update - April 22, 2020

We suspect that everyone’s dwellings must have all DIY projects well underway (if not already completed by now!).  With fresh sourdough rising and tasty macarons fresh out of the oven, the pantries are getting full! 

Yes, we are all still hard at work and for all the essential workers bravely facing their jobs every day, we must not forget that they are putting themselves at risk for the greater good helping to manufacture, transport goods, and service and stock the shelves!   Please do what you can to support them...


Almond Market Report - April 2020

The Almond Board released the March position report on Thursday, April 9th. Key highlights as below...


Almond Market Update - April 15, 2020

We hope this finds you doing well along with all your family, friends, and neighbors.  Now is a great time to reflect on all our relationships and check up on those we may not have talked to recently, especially your favorite almond company... just kidding.  Yet we do need a little levity these days!

The March position report was released from the California Almond Board last Thursday and was very favorable by all accounts.  Shipments exceeded market expectations, crop receipts have all but concluded, and new sales of 174 million pounds were added on during the month...


Almond Market Update - April 9, 2020

This week we have seen COVID-19 reach a high in the east as we pause to pray for all of those directly affected by the virus. While we must stay steady with our due diligence, we can at least see there is a flattening of the curve in NY, NJ, CA and many EU countries with fewer new cases occurring.  This gives us strength in knowing the sheltering in place is working. 


Almond Market Update - April 1, 2020

While COVID-19 continues to grip our Nation, we would like to take the time to thank our front line workers and those of our customers, suppliers and partners. Since after healthcare, food is the next necessity to support people through this crisis, these employees have been deemed essential in nearly all countries in the world.

On the almond front, processors have been busy trying to fill existing orders that are being pulled forward but new business has been limited as the virus dominates the conversation...


Almond Market Report - March 2020

The Almond Board of California released the March position report last week.  Key highlights were as follows...

Cashew Market Update - November 17, 2020 

We experienced another quiet month with low volumes traded on cashew kernels. Again, despite the lack of large-scale buying interest, prices continue to remain firm...


Cashew Market Update - October 20, 2020 

The cashew kernel market continues to be silent with no major buying interest over the last several weeks. Despite the lack of large-scale buying interest, prices continue to remain firm...


Cashew Market Update - September 17, 2020 

The market continues to remain reasonably silent. There is no major buying or selling activity to report. Surprisingly, despite the silence, we have only seen kernel prices inching up. Buyers who were keen to cover in July and early August have stopped buying or slowed down their activity as they have seen indications of resistance from sellers to offer for new crop...


Cashew Market Update - August 4, 2020 

The cashew market has been reasonably silent in the last few weeks. We have seen interest from buyers to cover their needs for 2021 as the current levels appear attractive. As it is difficult to hedge far forward sales, the volume of trades for forward position is suspected to be low...


Cashew Market Update - July 16, 2020 

Cashew inshell prices have been rangebound over the last few weeks and it appears that a bottom has been reached. We have also seen participants who were holding inshell inventories start to liquidate some of their positions. We expect the trades in inshells to reduce significantly in July as West Africa and Vietnam harvest comes to an end...


Cashew Market Update - June 18, 2020 

Cashew markets are currently marked by a lack of any significant activity. Shellers in Vietnam are worried about a price fall and they are closing their factories, which is resulting in lower availability. At the same time, they are also reducing their inshell purchases...


Cashew Market Update - June 3, 2020 

The cashew market continues to be quiet. One would expect markets to trend lower with lack of buying support. On the contrary, cashew kernels have been surprisingly resilient. This could be attributed to the slower pace of inshell arrivals in West Africa, as we near the end of the current harvest in most countries...


Cashew Market Update - May 21, 2020 

The cashew market has been reasonably quiet for the last couple of weeks.

Inshell trade from Africa continues at a brisk pace and farmers in West Africa have started selling their harvest which was stored for some time. This storing of inshells was prompted by general lack of buying interest at the beginning of the season and COVID-19 related restrictions...


Cashew Market Update - May 7, 2020 

Last week the IVC government declared lower estimates of this year’s cashew crop by about 10%. This is also in line with our expectations, as we have already been reporting this over the last several weeks...


Cashew Market Update - April 23, 2020 

The COVID-19 situation in Vietnam is improving and the alert status is now down one notch across most regions. We can now say there is less chance of a shutdown in cashew supply from Vietnam and we hope it remains that way....


Cashew Market Update - April 15, 2020 

Many cashew producing countries continue to be under lockdown or are sheltering in place. This has resulted in restricted movement of inshells from the farms to trade centers and lower availability of inshells to trade...


Cashew Market Update - April 7, 2020 

As COVID-19 affects more cashew growing countries, we have seen Africa going ahead with more restrictions, limiting in-shell trading. India continues to be locked down and trade and domestic demand has collapsed...


Cashew Market Update - March 24, 2020 

A lot has happened in the past week in terms of critical events that will influence the course of the markets. Inshell trades have almost come to a standstill as everyone grapples with the COVID-19 response from various governments. Yesterday we heard of India shutting down for 21 days, we have had first signs of restrictions in IVC with the nightly curfew and travel restrictions to upcountry locations. We are also hearing restrictions in Ho Chi Minh City...


Cashew Market Update - March 17, 2020 

The raw cashew season is progressing normally. While harvest is nearing its peak, there are still serious stumbling blocks to smooth trade flow. Côte d'Ivoire’s (IVC) minimum price is still holding strong and we are hearing unconfirmed reports of some cross-border flow. The majority of the IVC crop is still held in-country, with limited takers in India or Vietnam...


Cashew Market Update - March 10, 2020 

As this is the inshell harvest season, we start with the biggest producer of inshells in the world, Côte d'Ivoire (IVC).  As we explained in the previous report, the IVC government has set a minimum price for cashew inshells to protect small cashew farmers.

Unfortunately, kernel trades have happened lower than this price level due to various factors including...


Cashew Market Update - March 3, 2020 

Cashew kernel market has been soft due to lack of significant buying support for over ten months now. However, despite the lack of buying support, the market was showing resistance to trade below a certain threshold until January 2020. The resistance to further fall in prices was due to lack of availability of cheaper inshells...

Market Update - June 2020 

After a fairly long period, we witnessed sizeable trades in local Turkish and European markets. Hazelnut prices have corrected from the highs in May, which has prompted some European buyers to cover at these levels.

Offers have declined from the high levels of 48-50 TL now to 42-43 TL. No large stocks are available at these levels, but we have seen some speculators now keen to offload their position. With a stable TL, equivalent USD prices have fallen from above $7/kg now to $6.40/kg in the span of 2 weeks...


Market Update - May 14, 2020 

Open market liquidity continues to be extremely limited. After the TMO declaration of 24 TL inshells, we witnessed a couple of days when we had offers below 50 TL, but as the news of substantial over-subscription of the TMO allocation hit coupled with currency depreciation by another 2-3%, liquidity has again been constrained. We have last heard of some trades being concluded at 51 TL kernels...


Market Update - April 22, 2020 

Hazelnut market liquidity continues to be extremely limited. Turkish prices have been moving up daily with very low traded volumes.

The frost during the end of March and cold weather we encountered in early April did not affect the crop in a significant way. The sentiment locally in Turkey, however, has changed...


Market Update - April 8, 2020 

The 2019 crop expectation is 800K in shells – which is a record crop for the last 10 years. Prices dropped in the earlier part of the season, but the Turkish Grain Board (TMO) intervened in early October to give a floor price of 16 TL in-shell – around 32 TL kernel equivalent. TMO ended up purchasing around 80K in-shells and supported the market. Post-December, the liquidity suddenly dried up, possibly due to 2 reasons...

Sesame Market Update - August 24, 2020

As we enter the late stages of the sowing season for Indian, West African, and Chinese Sesame, there are an abundance of factors worth commenting on that go beyond the effects of the current COVID crisis...


Quinoa & Chia Market Update - May 2020

With the upcoming harvest set to commence in May for Quinoa, the market is taking note of a variety of factors on the supply and demand side that may be impacted due COVID-19. April we did see spot demands and enquiries from several buyers, but overall demand seems to have slowed down.  Usually April is a month for contracting volume or genuine pricing discussion, which was missing...


Sesame Market Update - April 2, 2020 

The Sesame Market is seeing a number of COVID-related S&D disruptions. Port closures in India and Africa will affect global availability over the coming months, as these are some of the leading exporters of Sesame.

In China, things are returning to normal. With restaurants now operating as they were before the onset of COVID, Sesame consumption will normalize. There is a significant amount of stocks in Chinese ports, which could affect their demand for imports in the short term, but ultimately will expect this to balance out as these stocks dwindle and the supply tightness due to port closures increases....


Quinoa Market Update - March 25, 2020 

With the upcoming harvest set to commence in May, we are taking note of a variety of factors on the supply and demand side that will impact pricing. The global COVID crisis will play a part in the short-term market leading up to harvest and possibly beyond.

Demand for Quinoa exports has remained steady over the past several years and we have not been anticipating a demand surge in 2020. Up until last week, sentiment has been production should closely match demand. However, with the recent trend of stockpiling groceries, we are seeing an increase in spot sales for short coverage and this could squeeze the annual supply a little tighter than originally expected...

Monthly updates on global market activities for almonds, cashews, pistachios, walnuts, hazelnuts, macadamias, quinoa, and chia.


Market Report - October 2020

After a few slow months, the last few weeks have seen a good amount of activity across the markets. Celebrating “Golden Week,” China saw good consumption with Alibaba’s Tmall reporting a 79% increase in online sales compared to last year. Most of South East Asia’s countries have been operating cautiously and are able to control the situation. The first week of October reported the highest amount of COVID-19 cases across the globe with additional safeguards and restricted movements being planned as a result, especially in Europe. There have been promotional activities leading to a surge in product demand and overall stabilization of prices as well...


Market Report - September 2020

The last few weeks have seen an increased amount of action across commodity markets as buyers look to cover for their 2021 demand at attractive prices. While the situation due to COVID-19 continues to impact the day to day lives as well as businesses across the globe, more and more countries are opening their economies with safeguards in place. The USA, Brazil and India have been showing worrisome signs in number of cases and hopefully their situations improve soon. According to a report, only 24% of the food and drink businesses expect to return to normal operating levels by the end of 2020, giving ominous signs for next few months...


Market Report - August 2020

Disruption and uncertainty due to COVID-19 continues to impact markets at a global level. A few countries like Australia, Vietnam, and Japan have been able to manage the situation well so far but as of late are facing increases in cases as well as community spread. India, Brazil, and the USA continue to be the worst affected but have no option except to slowly reopen their economies. Q2 2020 saw the worst negative growth in the US economy, causing a ripple effect across other major markets...


Market Report - July 2020

The impact of COVID-19 continues to disrupt global trade as well day-to-day lives across the globe. Situations appear to be worsening in the USA, India, and South America while the rest of the world seems to have reached a stage where normal life can return soon, if it hasn’t already. There has been visible impact across the globe due to job losses, and consumer behavior changes in relation to that are expected. Countries like India and Brazil will see a large amount of demand destruction, especially for higher priced food products like nuts compared to food staples...


Market Report - June 2020

The impact of Covid-19 continues to disrupt global trade as well day-to-day lives around the world. There has been an improvement in situations across China, Asia and Europe while the USA, South America and India are still passing through the peak periods. A few economies have started opening with caution and are slowly returning to normal. The long-term impact of our current situation is yet to be seen but fundamental change in consumer behavior and purchase patterns is expected...


Market Report - April 2020

Disruptions to global trade and supply chain due to Covid-19 continue to cause short-term impact across most geog-raphies. The oil industry saw unprecedented negative prices due to drastic demand reduction. Service industries like HoReCa, tourism, and travel are heavily impacted while grocery and retail have seen spikes in business. The situation seems to be getting under control in China and manufacturing has started again, bringing comfort to the dependent industries. Europe, USA, and Japan are severely impacted while trying to open their economies as well, which might lead to unwarranted situations in due course...


Market Report - March 2020

A lot has happened in the past few weeks in terms of critical events that will influence the course of the markets for the rest of 2020, or perhaps even longer. The dark cloud of COVID-19 has shadowed around the world and people across the globe are all impacted, directly or indirectly. With many countries taking control measures like lockdown, day-to-day lives have come to a standstill. Developed countries with good medical and social systems in place are seeing the stretch on infrastructure...


Market Report - February 2020

The cashew market is going through a very interesting time. West African crops started to flow as expected with the IVC, Burkina, and Benin governments declaring minimum farmer prices similar to last year’s levels. Initial flows in Africa, as well as Vietnam and Cambodia, indicate a good crop and consistent supply. The weather may negatively affect this if it doesn’t rain as expected in April and May...


Market Report - January 2020

Tanzania’s 2019 crop auction closed at an estimated 225,000 MT, against expectations of over 250,000 MT. The exports from Vietnam have been record highs for 2019, leading to low raw material and kernel inventories at origins. The expectation on West Africa (major supplier of RCN) as well as Vietnam / Cambodia is of better crop than the previous year and should ensure a good supply for next few months...


Market Report - December 2019

Tanzania 2019 crop has been auctioned as expected and average auctions have been at $1,600 - $1,650 USD/MT. The last 20% of the crop is still to be auctioned, which is of lower quality and expected to be discounted accordingly...


Market Report - November 2019

With supply of RCN from West Africa coming to an end, Tanzania’s new crop flow started well as expected and government resorted to the earlier system of auctioning. The trading price is at $1,700 - $1,750 USD/MT, around $100 USD/MT higher than expectation and is keeping the markets firm. Mozambique’s new crop also is as expected and trading between $1,350 - $1,400 USD/MT levels...


Market Report - October 2019

Supply of RCN from West Africa continues as expected with a total of 1.85mn MT exports by the end of September. Post-evacuation of the 2018 crop to port, Tanzania’s government has gone back to earlier system of auctions for the 2019 crop. With Tanzania’s 2019 crop expected to be normal and Mozambique crop also expected to be good, RCN supply will continue to support processing...


Market Report - September 2019

RCN supply from West Africa continues as expected with a total of 1.75 million MT exports by the end of September. Tanzania’s government finally started selling the 2018 crop in August and shipments have been slow, leading to firmness in RCN prices. Current price levels are $1,250 USD/MT (for IVC 45 KoR) compared to $1,100 USD/MT a month back. However, the kernel market is stable to silent with no movement in prices...


Market Report - August 2019

RCN supply from West Africa continues to be normal and 1.6 million MT raw material supply is expected to flow by end of August. Tanzania’s situation looks likely to resolve in the next few weeks and supply will keep the prices stable. For the last month RCN prices have been stable at 1,100 USD/MT (for IVC 45 KoR)...

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