OCT 31, 2009
In week 44, cashew market moved up a few cents on W320s. There was a reasonable amount of activity with USA but other markets were quiet. General prices levels were W240 between 2.85 and 2.90, W320 around 2,70 and W450 around 2.40 FOB.
In Tanzania, RCN has started moving to the warehouses and it is expected that first auctions may take place next week. Indicative prices are above US$ 1000 but it is to be seen at what prices business is actually done.
For the last few weeks, cashew market has been moving in a narrow range and there has been steady activity with some market or the other. But there is a general reluctance amongst most sellers & buyers to take any big positions. We feel that the pattern we have seen in the last several months – buying for nearbys – will continue and this will provide a floor to the market. As we said before, the fact that forward contracting has been lower than normal can make the market volatile – any pressure to buy or sell or any change on supply side can move market suddenly & significantly.
Consumption in USA & EU in 2009 has not been as bad as initially expected. Most of the decline was because of lack of product on the shelves rather than an actual move away from nuts. We strongly feel better supply means better consumption because for a snack product a missed sale is a lost sale because very rarely is a snack purchase postponed – the customer buys something else. The decline in USA & EU consumption has been more than compensated by the strong growth in Asia. As affected areas come out from the crisis and roasters & retailers put more product on the shelves, we can reasonably expect better consumption in 2010.
Sales in the current quarter will give buyers an idea of how much they need to buy for FH 2010. If the nearby buying trend continues into first half of 2010 then we may not see any major move in prices for quite some time. If demand in first quarter 2010 is strong, we can expect slightly higher prices through 2010 because RCN demand prices in second quarter will be strong & firm. If demand is weak in first quarter, processors may not be in hurry to buy RCN at beginnng of second quarter which could mean lower RCN prices and consequently, kernel prices may settle few notches lower than current range.
To sum up, we expect a steady market for next 2-3 months and activities in first quarter to determine the broad market range and trend for 2010.
What do you think about market ? Would appreciate your comments on current situation and views on trends for the coming months + any interesting news / info
Regards,
Pankaj N. Sampat
Monday, November 02, 2009
Monday, October 26, 2009
Weekly Cashews Update
OCT 24, 2009 There is nothing new to report about the Cashew market. Prices are unchanged i.e. W240 around 2.90, W320 around 2.65, W450 around 2.40 FOB. Reasonbale business being done to various markets but there is no strong demand from any market. At the same there is no strong selling pressure from any origin. Market seems to have settled in a “comfortable” mode.
RCN market is quiet with no movement from Tanzania so far (although we are at the end of Oct). There are unconfirmed reports that shipments from Mozambique may start earlier than usual. Limited quantities of good quality RCN in India being traded at reasonable prices but there is fair amount of low quality RCN which has no takers. Due to the delayed Brazil crop, there is a wide variety of estimates and the continuing strength of the currency is another concern.
Although there is a steady flow of enquiries from small buyers for prompt shipment, we have not seen any big buying interest from large buyers. This means that they will be drawing down on inventories at the end of the year and depending on strength of physical offtake in the fourth quarter, they will need to buy small or big quantity for first quarter shipments.
There will be a reasonable quantity of RCN in the first quarter (esp because of the delay in Brazil crop) but that might be compensated by demand from all markets for first quarter shipments (as the volume of forward business has been much lower than normal). If the demand is steady, prices will remain in the current range with a possibility of slight softening to the lower in the second quarter. IF demand in first quarter is strong, prices will remain close to (or even cross) the high end of the current range and this will keep prices steady when we move into the big harvesting period of second and third quarters. A big decline in prices is possible only if demand in first half is weak COUPLED with good crops in Northern Hemisphere.
To sum up, unless something dramatic happens, we can expect range bound market for next few months with a small chance of big increase or big decline but with good chance of increased volatility within current range,
What do you think about the market situation ?? Would appreciate your views on demand trends, forecast of market movement, news from origins and any other news / info
Regards,Pankaj N.
RCN market is quiet with no movement from Tanzania so far (although we are at the end of Oct). There are unconfirmed reports that shipments from Mozambique may start earlier than usual. Limited quantities of good quality RCN in India being traded at reasonable prices but there is fair amount of low quality RCN which has no takers. Due to the delayed Brazil crop, there is a wide variety of estimates and the continuing strength of the currency is another concern.
Although there is a steady flow of enquiries from small buyers for prompt shipment, we have not seen any big buying interest from large buyers. This means that they will be drawing down on inventories at the end of the year and depending on strength of physical offtake in the fourth quarter, they will need to buy small or big quantity for first quarter shipments.
There will be a reasonable quantity of RCN in the first quarter (esp because of the delay in Brazil crop) but that might be compensated by demand from all markets for first quarter shipments (as the volume of forward business has been much lower than normal). If the demand is steady, prices will remain in the current range with a possibility of slight softening to the lower in the second quarter. IF demand in first quarter is strong, prices will remain close to (or even cross) the high end of the current range and this will keep prices steady when we move into the big harvesting period of second and third quarters. A big decline in prices is possible only if demand in first half is weak COUPLED with good crops in Northern Hemisphere.
To sum up, unless something dramatic happens, we can expect range bound market for next few months with a small chance of big increase or big decline but with good chance of increased volatility within current range,
What do you think about the market situation ?? Would appreciate your views on demand trends, forecast of market movement, news from origins and any other news / info
Regards,Pankaj N.
Monday, October 19, 2009
AU: Almond industry celebrates success
The Australian almond industry has recorded its most successful almond blossom season to date with record almond sales and festivities held across the almond growing regions.
This year’s almond blossom season extended from late July through till late August.
Throughout this year’s almond blossom season, the Almond Board of Australia (ABA) ran a public relations campaign, advertising as well as in-store promotion in both Coles and Woolworths. The in-store promotion included point-of-sale materials such as posters, shelf wobblers and free almond blossom tins attached to 750 gram bags of natural Australian almonds.
Marketing director at Select Harvest, Matthew Graham, said the almond blossom promotion had been a great success.
“The almond blossom in-store promotion exceeded all expectations with record shipments of almonds delivered to both Coles and Woolworths. It is great to see the sale of almonds is on the rise with results of this almond blossom campaign going above and beyond the results of previous almond promotions,” said Graham.
According to Julie Haslett, CEO of the ABA, domestic consumption of almonds has increased in the last year.
“Australians are eating more almonds than ever before, with domestic consumption having increased by over 10 per cent in the last 12 months,” Haslett said.
Australia currently produces around 3 per cent of the world’s almonds. Over the next three years, as existing plantings reach full maturity, it is forecast that Australia will surpass Spain (8 per cent) to become the world’s second largest almond producer, behind California (82 per cent).
The key almond growing areas around Australia include Sunraysia in Victoria, the Riverland and Adelaide in South Australia and the Riverina region in NSW.
The Almond Board of Australia (ABA) is a non-profit, membership-based organisation representing the interests of Australian almond growers, processors and marketers.
This year’s almond blossom season extended from late July through till late August.
Throughout this year’s almond blossom season, the Almond Board of Australia (ABA) ran a public relations campaign, advertising as well as in-store promotion in both Coles and Woolworths. The in-store promotion included point-of-sale materials such as posters, shelf wobblers and free almond blossom tins attached to 750 gram bags of natural Australian almonds.
Marketing director at Select Harvest, Matthew Graham, said the almond blossom promotion had been a great success.
“The almond blossom in-store promotion exceeded all expectations with record shipments of almonds delivered to both Coles and Woolworths. It is great to see the sale of almonds is on the rise with results of this almond blossom campaign going above and beyond the results of previous almond promotions,” said Graham.
According to Julie Haslett, CEO of the ABA, domestic consumption of almonds has increased in the last year.
“Australians are eating more almonds than ever before, with domestic consumption having increased by over 10 per cent in the last 12 months,” Haslett said.
Australia currently produces around 3 per cent of the world’s almonds. Over the next three years, as existing plantings reach full maturity, it is forecast that Australia will surpass Spain (8 per cent) to become the world’s second largest almond producer, behind California (82 per cent).
The key almond growing areas around Australia include Sunraysia in Victoria, the Riverland and Adelaide in South Australia and the Riverina region in NSW.
The Almond Board of Australia (ABA) is a non-profit, membership-based organisation representing the interests of Australian almond growers, processors and marketers.
Monday, October 12, 2009
Cashew market Oct.3
Cashew market OCT 3, 2009
continued to be steady with a firm undertone.. There was a fair amount of business in W320 in 2.60-2.70 FOB range. Most of the sales were to USA & some to off markets. Europe was quiet. Other grades were also steady i.e. W240 between 2.85-2.90, W450 between 2.35-2.40 FOB - stray sales reported. Only a few processors in India & Vietnam have participated in recent activity. Most of the large processors in both origins are waiting to see how things develop. Brazil continues to be quiet due to crop delay & currency situation but we expect some activity from them in Oct/Nov.
RCN prices moved up a bit due to Vietnam buying of IVC in the 725-750 range plus possible delays in movement from Tanzania. Initial reports indicate that Govt may fix farmgate price equivalent to approx US$ 1000 which is about 10-12% higher than current kernel prices (depending on outturn). Official announcement is expected next week.
European enquiries for next year contracts began early and some contracts have been made. Some more contracts are expected to be finalised in coming weeks. Limited selling interest from origin, wide price range, currency fluctuation seem to be delaying decisions. Given the fact that current prices are lower & economic situation outlook is much better than last year, one would expect that roasters & retailers would take larger positions but the uncertainty of price (and currency) trend might result in only part volumes being contracted now.
Asian consumption growth is strong. Many other markets are also showing signs of growth in consumption but a proper trend will be known only after 2-3 quarters of growth. Some buyers are showing interest to cover forward requirements at current levels but processors do not seem to be inclined to sell unless they can get a premium.
If the current standoff due to wide difference in selling & buying ideas continues, we might enter 2010 with lower than normal volumes covered for forwards and this will increase volatility in the first quarter which will make things difficult for all stakeholders.
We expect market to move in a narrow range in the next few weeks with steady activity for nearbys around current levels and slightly higher levels for forwards (in case buyers decide to cover more volume for FH 2010).
Please advise your views on market + news of recent activity / offers + your forecast of demand & price trend + any other info / news
Pankaj N. Sampat
continued to be steady with a firm undertone.. There was a fair amount of business in W320 in 2.60-2.70 FOB range. Most of the sales were to USA & some to off markets. Europe was quiet. Other grades were also steady i.e. W240 between 2.85-2.90, W450 between 2.35-2.40 FOB - stray sales reported. Only a few processors in India & Vietnam have participated in recent activity. Most of the large processors in both origins are waiting to see how things develop. Brazil continues to be quiet due to crop delay & currency situation but we expect some activity from them in Oct/Nov.
RCN prices moved up a bit due to Vietnam buying of IVC in the 725-750 range plus possible delays in movement from Tanzania. Initial reports indicate that Govt may fix farmgate price equivalent to approx US$ 1000 which is about 10-12% higher than current kernel prices (depending on outturn). Official announcement is expected next week.
European enquiries for next year contracts began early and some contracts have been made. Some more contracts are expected to be finalised in coming weeks. Limited selling interest from origin, wide price range, currency fluctuation seem to be delaying decisions. Given the fact that current prices are lower & economic situation outlook is much better than last year, one would expect that roasters & retailers would take larger positions but the uncertainty of price (and currency) trend might result in only part volumes being contracted now.
Asian consumption growth is strong. Many other markets are also showing signs of growth in consumption but a proper trend will be known only after 2-3 quarters of growth. Some buyers are showing interest to cover forward requirements at current levels but processors do not seem to be inclined to sell unless they can get a premium.
If the current standoff due to wide difference in selling & buying ideas continues, we might enter 2010 with lower than normal volumes covered for forwards and this will increase volatility in the first quarter which will make things difficult for all stakeholders.
We expect market to move in a narrow range in the next few weeks with steady activity for nearbys around current levels and slightly higher levels for forwards (in case buyers decide to cover more volume for FH 2010).
Please advise your views on market + news of recent activity / offers + your forecast of demand & price trend + any other info / news
Pankaj N. Sampat
Thursday, September 17, 2009
R.L. “Pete” Turner September 17, 2009
WALNUT MARKET/CROP REPORT
CROP:
The National Agriculture Statistics Service has announced the California 2009 walnut crop at 415,000 tons, down 5 percent from 2008 production. The crop survey was conducted between August 1 and August 22, 2009. NASS “objective” estimate is 16,000 tons more than the Handlers July “subjective” estimate (399,000 tons); and as of now, most of the walnut industry believe the crop will come in somewhere between these two numbers.
The official survey has the “nut set” for Hartley’s at 2001, up 34 percent and the Chandlers “nut set” at 1,346, down 6 percent. However, as he does every year, Vic Tolomeo, Director of NASS’s informed the industry that the “net set” carries very little weight in determining the overall tonnage of a variety.
As an example, Hartley’s, one of the industries oldest varieties has had no significant new plantings over the past 15 years; and are down to less than 40,000 acres. The production of Hartley’s is also declining and if we use the past four year average (1.5 tons/acre) we will have about the same tonnage as last year (60,000 tons). My projection for Hartley’s is 62,000 tons (up 2,000 tons) and Chandlers at 159,000 tons (down 18,000 tons).
Packers are now receiving the early varieties (Serr’s, Ashley’s, and Payne’s) and so far, they look OK. However, it will be another week before we can determine a trend for color, insect/mold and sunburn damage and oil-less nuts.
The August shipments of 31,000 tons (inshell eqv.) is another record shipping month; up 145 percent over last August (10,800 tons). Both export and domestic markets contributed to the record numbers.
California Walnut Shipment Recap
Month (August) 2007/08 Year to Date 2008/09 Year to Date Diff. (YTD)
Inshell Pounds (000) 63 118,768 378 173,549 54,781 (46%)
-
Shelled Pounds (000) 10,812 237,992 26,665 283,882 45,890 (19%)
-
Total (Inshell eqv. tons) 12,662 337,413 31,051 415,342 77,929 (23%)
The August shipments puts my final 2008 crop walnut supply and utilization carry-over (based on 43.2% “shell out rate”) at 54,000 tons. However, the “shell out rate” will most likely be adjusted once the final inventories have been tallied late this month by the California Walnut Board. My guess is the adjusted rate will be close to 44.0 percent, making the carry-over around 65,000 tons.
Market:
Although the 2009 crop is projected to be down from last years record crop, most of the industry believes that strong export demand and favorable exchange rates will continue to drive the market. Early trades seem to support this assumption and current booking activities have increase since the export opening prices were set last Friday.
The opening for Jumbo Hartley’s is $1.20, and Chandler Light Halves and Pieces 20% is $2.45. Most recent trading activities on both packs have been close to these numbers.
Jumbo Inshell Chandler’s are trading at $1.35 and I believe this will be short lived, especially if the Chandler crop comes in at the projected levels. Also, the USDA School Lunch Program will help keep the domestic shelled market and shipping levels up, at least through December when the program ends.
Please let me know if you have any questions or comments.
Regards,
Pete
This is a great salad and works for your diet!
APPLE - CABBAGE - WALNUT SALAD
tsp. red wine vinegar
1 tsp. Dijon mustard
3/4 tsp. salt
1/4 tsp. freshly ground pepper
2 tbsp. olive oil
4 c. thinly sliced red cabbage
1 Granny Smith apple, julienned
1/4 c. chopped walnuts
Whisk first 4 ingredients in bowl. Gradually whisk in oil. Add cabbage and apple; sprinkle with walnuts.
WALNUT MARKET/CROP REPORT
CROP:
The National Agriculture Statistics Service has announced the California 2009 walnut crop at 415,000 tons, down 5 percent from 2008 production. The crop survey was conducted between August 1 and August 22, 2009. NASS “objective” estimate is 16,000 tons more than the Handlers July “subjective” estimate (399,000 tons); and as of now, most of the walnut industry believe the crop will come in somewhere between these two numbers.
The official survey has the “nut set” for Hartley’s at 2001, up 34 percent and the Chandlers “nut set” at 1,346, down 6 percent. However, as he does every year, Vic Tolomeo, Director of NASS’s informed the industry that the “net set” carries very little weight in determining the overall tonnage of a variety.
As an example, Hartley’s, one of the industries oldest varieties has had no significant new plantings over the past 15 years; and are down to less than 40,000 acres. The production of Hartley’s is also declining and if we use the past four year average (1.5 tons/acre) we will have about the same tonnage as last year (60,000 tons). My projection for Hartley’s is 62,000 tons (up 2,000 tons) and Chandlers at 159,000 tons (down 18,000 tons).
Packers are now receiving the early varieties (Serr’s, Ashley’s, and Payne’s) and so far, they look OK. However, it will be another week before we can determine a trend for color, insect/mold and sunburn damage and oil-less nuts.
The August shipments of 31,000 tons (inshell eqv.) is another record shipping month; up 145 percent over last August (10,800 tons). Both export and domestic markets contributed to the record numbers.
California Walnut Shipment Recap
Month (August) 2007/08 Year to Date 2008/09 Year to Date Diff. (YTD)
Inshell Pounds (000) 63 118,768 378 173,549 54,781 (46%)
-
Shelled Pounds (000) 10,812 237,992 26,665 283,882 45,890 (19%)
-
Total (Inshell eqv. tons) 12,662 337,413 31,051 415,342 77,929 (23%)
The August shipments puts my final 2008 crop walnut supply and utilization carry-over (based on 43.2% “shell out rate”) at 54,000 tons. However, the “shell out rate” will most likely be adjusted once the final inventories have been tallied late this month by the California Walnut Board. My guess is the adjusted rate will be close to 44.0 percent, making the carry-over around 65,000 tons.
Market:
Although the 2009 crop is projected to be down from last years record crop, most of the industry believes that strong export demand and favorable exchange rates will continue to drive the market. Early trades seem to support this assumption and current booking activities have increase since the export opening prices were set last Friday.
The opening for Jumbo Hartley’s is $1.20, and Chandler Light Halves and Pieces 20% is $2.45. Most recent trading activities on both packs have been close to these numbers.
Jumbo Inshell Chandler’s are trading at $1.35 and I believe this will be short lived, especially if the Chandler crop comes in at the projected levels. Also, the USDA School Lunch Program will help keep the domestic shelled market and shipping levels up, at least through December when the program ends.
Please let me know if you have any questions or comments.
Regards,
Pete
This is a great salad and works for your diet!
APPLE - CABBAGE - WALNUT SALAD
tsp. red wine vinegar
1 tsp. Dijon mustard
3/4 tsp. salt
1/4 tsp. freshly ground pepper
2 tbsp. olive oil
4 c. thinly sliced red cabbage
1 Granny Smith apple, julienned
1/4 c. chopped walnuts
Whisk first 4 ingredients in bowl. Gradually whisk in oil. Add cabbage and apple; sprinkle with walnuts.
Monday, August 17, 2009
WALNUT MARKET/CROP REPORT
R.L. “Pete” Turner August 16, 2009
CROP:
The California Walnut Handlers have announced their 2009 crop “subjective” estimate at 399,000 tons. The official “objective” crop forecast from CASS will be announced first week of September.
July shipments of 27,502 tons (inshell eqv.) makes seven straight months of record distribution for the walnut industry. Inshell shipments have slowed somewhat but the Shelled material continues to move at record levels.
A small amount of the USDA School Lunch material shipped during this period; however, the bulk of this tonnage (shelled) will be shipped between August and December.
California Walnut Shipment Recap
Month (July) 2007/08 Year to Date 2008/09 Year to Date Difference (YTD)
Inshell Pounds (000) -170 118,706 1,366 173,171 54,465 (49%)
-
Shelled Pounds (000) 13,581 227,180 23,171 257,218 30,038 (13%)
-
Total (Inshell eqv. tons) 15,781 324,750 27,502 384,291 59,541 (18%)
This year’s YTD shipment of 384,291 tons (inshell equivalent) is 18 percent more than last year; and I expect that August will be another record shipping month for the industry.
As noted last month, I anticipate some confusion on the 2008 crop carry-over number. My walnut shipment model shows we will have a 57,000 ton carry in from the 2008 crop. This is based on the official California Walnut Board’s “shell-out rate” of 43.2 percent. However, industry leaders believe the CWB will adjust the “shell-out-rate” to a higher number, possibly adding 15,000 to 20,000 tons to the carry in. I believe the CWB will announce the revised “shell-out rate” in early September.
As noted above, the Packers have set their 2009 crop “subjective” estimate at 399,000 tons, 35,000 tons less than last year. They are also projecting the Chandler crop at 152,000 tons, 25,000 tons less than last year and the Hartley’s at 57,000 tons, about the same as last year. The early varieties tonnage should be down considerably from the 2008 crop.
It is still a little early but so far, most of the growers are anticipating excellent quality and larger than average nut size. They also believe the crop will be a few days earlier than last year and expect to start harvest of the early varieties the first and second weeks of September.
Market:
Everyone in the industry will be watching the Pacific Rim countries (Australia, China, Hong Kong, Japan, Korea and Taiwan) to see if they will continue at record levels they set for the 2008 crop. As an example, so far the industry has shipped 29.9 millions pounds of Inshell compared to 1.6 million last year. They are also ahead of last year for Shelled material with 46.3 million pounds shipped to date, compared to 34.4 million last year.
The Middle East (Egypt, Israel, Turkey, U.A.E.) are also at record pace with Inshell at 37.3 million pounds (18.2 million last year) and Shelled at 15.8 million pounds compared to 7.1 million pounds last year.
Europe is slightly ahead of last year on both Inshell (73.4 million pounds) and Shelled (32.4 million pounds).
It is too early to predict if these market will keep pace with last year, but early enquiries are much more active than in the past, so it’s possible this market will remain strong.
Except for some early 2009 crop bookings, the current markets is quite, but expect heavier activity toward the last half of the month. Early shipments of Inshell (2008 crop) will start hitting the docks and the USDA School Lunch Program will be in full swing. So, I have no doubt that August will be another record shipping month for the industry.
Inshell material is basically gone and except for some Combination inventories, most of the Chandler and Light material have been sold off. The last I heard was Jumbo Hartley’s were still in the $1.20 range and Light Halves and Pieces between $2.40 and $2.55. Also, for what ever it is worth, I believe opening prices will be at or very near these levels.
Please let me know if you have any questions or comment.
Regards,
Pete
Forget your diet and try this one:
APPLE WALNUT CRISP WITH CARAMEL ICE CREAM
3/4 c. old fashioned rolled oats
3/4 c. firmly packed light brown sugar
1 tsp. cinnamon
1/2 tsp. salt
1/2 c. (1 stick) unsalted butter, cut into bits & softened
1 c. walnuts, toasted lightly, cooled & chopped
3 lb. Gravenstein or other tart apples, peeled & sliced
2 tbsp. fresh lemon juice
3 tbsp. sugar
Combine the flour, the oats, brown sugar, cinnamon and salt in a bowl. Add the bits of butter to this mixture and blend until it resembles coarsely ground meal. Stir in the walnut bits.
In another bowl, toss the apple slices with the lemon juice and sugar. Turn the apple mixture into a buttered 10 inch pie pan and cover the fruit evenly with the topping mixture. Bake the crisp in a preheated 375 degree oven for about 25-30 minutes or until the top is golden brown. Let stand for 15 minutes before serving. Serve with a scoop of caramel ice cream.
Serves 8.
CROP:
The California Walnut Handlers have announced their 2009 crop “subjective” estimate at 399,000 tons. The official “objective” crop forecast from CASS will be announced first week of September.
July shipments of 27,502 tons (inshell eqv.) makes seven straight months of record distribution for the walnut industry. Inshell shipments have slowed somewhat but the Shelled material continues to move at record levels.
A small amount of the USDA School Lunch material shipped during this period; however, the bulk of this tonnage (shelled) will be shipped between August and December.
California Walnut Shipment Recap
Month (July) 2007/08 Year to Date 2008/09 Year to Date Difference (YTD)
Inshell Pounds (000) -170 118,706 1,366 173,171 54,465 (49%)
-
Shelled Pounds (000) 13,581 227,180 23,171 257,218 30,038 (13%)
-
Total (Inshell eqv. tons) 15,781 324,750 27,502 384,291 59,541 (18%)
This year’s YTD shipment of 384,291 tons (inshell equivalent) is 18 percent more than last year; and I expect that August will be another record shipping month for the industry.
As noted last month, I anticipate some confusion on the 2008 crop carry-over number. My walnut shipment model shows we will have a 57,000 ton carry in from the 2008 crop. This is based on the official California Walnut Board’s “shell-out rate” of 43.2 percent. However, industry leaders believe the CWB will adjust the “shell-out-rate” to a higher number, possibly adding 15,000 to 20,000 tons to the carry in. I believe the CWB will announce the revised “shell-out rate” in early September.
As noted above, the Packers have set their 2009 crop “subjective” estimate at 399,000 tons, 35,000 tons less than last year. They are also projecting the Chandler crop at 152,000 tons, 25,000 tons less than last year and the Hartley’s at 57,000 tons, about the same as last year. The early varieties tonnage should be down considerably from the 2008 crop.
It is still a little early but so far, most of the growers are anticipating excellent quality and larger than average nut size. They also believe the crop will be a few days earlier than last year and expect to start harvest of the early varieties the first and second weeks of September.
Market:
Everyone in the industry will be watching the Pacific Rim countries (Australia, China, Hong Kong, Japan, Korea and Taiwan) to see if they will continue at record levels they set for the 2008 crop. As an example, so far the industry has shipped 29.9 millions pounds of Inshell compared to 1.6 million last year. They are also ahead of last year for Shelled material with 46.3 million pounds shipped to date, compared to 34.4 million last year.
The Middle East (Egypt, Israel, Turkey, U.A.E.) are also at record pace with Inshell at 37.3 million pounds (18.2 million last year) and Shelled at 15.8 million pounds compared to 7.1 million pounds last year.
Europe is slightly ahead of last year on both Inshell (73.4 million pounds) and Shelled (32.4 million pounds).
It is too early to predict if these market will keep pace with last year, but early enquiries are much more active than in the past, so it’s possible this market will remain strong.
Except for some early 2009 crop bookings, the current markets is quite, but expect heavier activity toward the last half of the month. Early shipments of Inshell (2008 crop) will start hitting the docks and the USDA School Lunch Program will be in full swing. So, I have no doubt that August will be another record shipping month for the industry.
Inshell material is basically gone and except for some Combination inventories, most of the Chandler and Light material have been sold off. The last I heard was Jumbo Hartley’s were still in the $1.20 range and Light Halves and Pieces between $2.40 and $2.55. Also, for what ever it is worth, I believe opening prices will be at or very near these levels.
Please let me know if you have any questions or comment.
Regards,
Pete
Forget your diet and try this one:
APPLE WALNUT CRISP WITH CARAMEL ICE CREAM
3/4 c. old fashioned rolled oats
3/4 c. firmly packed light brown sugar
1 tsp. cinnamon
1/2 tsp. salt
1/2 c. (1 stick) unsalted butter, cut into bits & softened
1 c. walnuts, toasted lightly, cooled & chopped
3 lb. Gravenstein or other tart apples, peeled & sliced
2 tbsp. fresh lemon juice
3 tbsp. sugar
Combine the flour, the oats, brown sugar, cinnamon and salt in a bowl. Add the bits of butter to this mixture and blend until it resembles coarsely ground meal. Stir in the walnut bits.
In another bowl, toss the apple slices with the lemon juice and sugar. Turn the apple mixture into a buttered 10 inch pie pan and cover the fruit evenly with the topping mixture. Bake the crisp in a preheated 375 degree oven for about 25-30 minutes or until the top is golden brown. Let stand for 15 minutes before serving. Serve with a scoop of caramel ice cream.
Serves 8.
Wednesday, July 01, 2009
Turkey: Prices going nuts, hazelnut producers say
Turkey: Prices going nuts, hazelnut producers say
Hazelnut production has become quite troublesome for producers due to government incentives deemed unsuitable by hazelnut producers.
The overstocked inventories have caused prices to remain unstable, according to Hazelnut Promotion Group, or FTG. "The excessive amount of incentives provided by the government has generated overproduction, making hazelnut production one of Turkey’s major problems," said Kamil Yavuz, executive board member of FTG, speaking at a press conference Tuesday.
Turkey’s annual hazelnut exports are worth between $1 billion to $1.5 billion. Meanwhile, the Turkish government spent $1 billion for the production of hazelnuts within the past year, he said. "T that money could have been used to build new schools and industry centers."
Other countries such as Chile, Azerbaijan, and Georgia have also started to produce hazelnuts, Sevinç said. "If we continue to use our natural resources badly other countries will take the leadership of hazelnut production, unless we determine a suitable policy."
Hazelnut production has become quite troublesome for producers due to government incentives deemed unsuitable by hazelnut producers.
The overstocked inventories have caused prices to remain unstable, according to Hazelnut Promotion Group, or FTG. "The excessive amount of incentives provided by the government has generated overproduction, making hazelnut production one of Turkey’s major problems," said Kamil Yavuz, executive board member of FTG, speaking at a press conference Tuesday.
Turkey’s annual hazelnut exports are worth between $1 billion to $1.5 billion. Meanwhile, the Turkish government spent $1 billion for the production of hazelnuts within the past year, he said. "T that money could have been used to build new schools and industry centers."
Other countries such as Chile, Azerbaijan, and Georgia have also started to produce hazelnuts, Sevinç said. "If we continue to use our natural resources badly other countries will take the leadership of hazelnut production, unless we determine a suitable policy."
Almond Crop Likely Not As Big As Thought
June 30, 2009
The June 30 objective almond forecast for the 2009-2010 crop year is 1.35 billion meat pounds, according to the USDA’s National Agricultural Statistics Service – California Field Office (NASS/CFO). This forecast is based on 710,000 bearing acres.
Doug Flohr, statistician for USDA-NASS, California Field Office, said the forecast is down 7% from the May 8 subjective forecast of 1.45 billion pounds. The estimate is also down 16% from last year’s crop of 1.61 billion pounds. The average nut set per tree is 5,589, down 25% from the limb-busting 2008 almond crop. The average nut set of the industry’s flagship variety, Nonpareil, is 5,136, down 27% from last year's set. The average kernel weight for all varieties sampled was 1.58 grams, up 10% from last year.
The 2009 crop is down in part because of a difficult spring, and looks to be about two weeks behind. Bloom progressed slowly due to wet conditions, and wet weather hampered pollination. Cool temperatures did extend the almond bloom in parts of the Sacramento Valley. In addition, freezing temperatures in March caused damage to some almond orchards.
The official announcement was made Tuesday at the Modesto office of the Almond Board of California (ABC), which pays for the forecast. Following the announcement, Richard Waycott, president and CEO of the Almond Board of California, expressed confidence in the industry's ability to continue to market California almonds and grow global demand.
“While the objective estimate has been lowered somewhat from the subjective estimate, the efforts of the ABC to further develop global markets by expanding the demand for California almonds continue undaunted,” he said. “The organization looks forward to a very successful crop year in which millions of additional consumers worldwide begin including California almonds in their daily diets.”
The June 30 objective almond forecast for the 2009-2010 crop year is 1.35 billion meat pounds, according to the USDA’s National Agricultural Statistics Service – California Field Office (NASS/CFO). This forecast is based on 710,000 bearing acres.
Doug Flohr, statistician for USDA-NASS, California Field Office, said the forecast is down 7% from the May 8 subjective forecast of 1.45 billion pounds. The estimate is also down 16% from last year’s crop of 1.61 billion pounds. The average nut set per tree is 5,589, down 25% from the limb-busting 2008 almond crop. The average nut set of the industry’s flagship variety, Nonpareil, is 5,136, down 27% from last year's set. The average kernel weight for all varieties sampled was 1.58 grams, up 10% from last year.
The 2009 crop is down in part because of a difficult spring, and looks to be about two weeks behind. Bloom progressed slowly due to wet conditions, and wet weather hampered pollination. Cool temperatures did extend the almond bloom in parts of the Sacramento Valley. In addition, freezing temperatures in March caused damage to some almond orchards.
The official announcement was made Tuesday at the Modesto office of the Almond Board of California (ABC), which pays for the forecast. Following the announcement, Richard Waycott, president and CEO of the Almond Board of California, expressed confidence in the industry's ability to continue to market California almonds and grow global demand.
“While the objective estimate has been lowered somewhat from the subjective estimate, the efforts of the ABC to further develop global markets by expanding the demand for California almonds continue undaunted,” he said. “The organization looks forward to a very successful crop year in which millions of additional consumers worldwide begin including California almonds in their daily diets.”
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