Update

The last few weeks have been stop and start for us due to the Jewish Holidays but it’s all done now and back to normal.

Some good changes, some bad, please find attached our reviewed price list and a brief market overview.

Cashews.

The market has softened in price, especially with product out of India. This nice drop in price is due to the slowdown of Indian export, according to the Indian CEPCI last year this time exports numbers were at 61,866, while this year its 55,471, when you have a 10% drop you know you have to do something and that’s exactly what has happened, this will of course have a knock on effect to Vietnam pricing which will have to adjust.

The lack of consumption by China which India didn’t take advantage of has left them in a position where they have to move product even while complaining about the high price of seed. It’s a good time to book, saying that the PIECES market is still strong and that due to the demand still being high with a short supply.

Almonds.

We have seen a tiny adjustment and offers are trickling out. Asia has been serviced with their requirements and now the focus will be squarely on the domestic market and growers are starting to ship. Rain is still a HUGE factor and while most growers live in fear of a continued drought, they do need to move inventory and can’t just do nothing as much they want to sit and stockpile. While I wouldn’t call this a market softening its more “we have wiggle room”. We are strongly advising to cover your QTR needs because if no rain should fall its highly likely that they will take themselves of the market again, but with a contract they will have to supply product no matter what.

Pecans.

Very interesting market, we are seeing cheaper offers for product from growers and we have adjusted our price accordingly. Some growers are offering cheaper in-shell product much the same as last year. Pecans must be seen as “the likeable but not needed for the party cousin in the nuts family” and while the Almonds farmers have confidence the Pecans guys don’t, hence the movement of price is more erratic and it can be a risky commodity to take large positions. The product is not as saturated or imbedded and pricing is not as stable. Now is the time to keep trading and moving in and out as per your needs. It would be risky to forward book at a price to far out because of this inherent mentality which we have seen in the past.

Pistachio.
Still no real offers, and hearing even less. Rumors of a large amount of blanks are still just rumors but the growers coming in and out TWICE would lend credence that it could very well be the case. Iran’s Pistachio is not going to be a factor. We feel this product is going to go up in price over the course of the year.