Good afternoon

Hope all is well. 

Not too much to report this week so let’s summarize in a few short sentences.

Cashews:

Many buyers have made peace with the new situation and are booking product at these crazy levels while others are still holding off and claiming that these prices are not justified and do not reflect real market price. We have seen a slowdown in trading throughout he USA and Europe but I wouldn’t call it quiet at all. It’s very hard to tell if we’ll see the market come down in the close future. All I can say is that if trading will stay on the slow side- it’ll force the processors to lower pricing a little but not by much. Do keep in mind that domestic inventories are tight or better if we say almost depleted!  and I think it’ll still take a while for this to change, so even if we see this market starting to come down soon it’ll take a while till we’ll start feeling it here.  Time will tell…. 

Pecans:

While we’re heading into the holiday season pecans are almost nowhere to be found anymore… most processors are fully sold out until new crop. Prices have spiked once again and will very likely stay up there throughout the year. If you still need any additional coverage for 2016 I’d recommend on buying ASAP. 

Almonds:

Buyers seem to be comfortable with the current levels and are buying as needed. Europe was active over the past 2 weeks with some light activity from the USA as well. New crop tends to be trading at about 5-10 cents below current crop with most buyers predicting the crop to be larger than estimated. We are not foreseeing any major changes at this point.

Raisins:

California has an excellent crop this year and prices are competitive right now. We are also hoping that the imported raisins will come in just as competitive. Booking some might be a smart move- with very little risk. 

Cranberries:

No major changes to report on this crop however we have some good position available that we can offer at very competitive levels. Feel free to call for any inquiries. 

Pineapple & Mango:

Tropicals like papaya & ginger should be plenty available with stable prices. Pineapple & Mango have become very tight with not much product available to ship from origin until new crop. We expect this to have a strong effect on pricing and it’ll probably not be before Nov-Dec that we’ll see prices soften up again.

We look forward to answering any questions you may have and hope to be able to quote you some business very soon. 

Thanks,

Pinny

Market Report 2/9/16

Not too much to report since last time, but here goes.

Cashews

Nothing much has changed in the last few weeks. Very little offers since most of the Vietnam packers are shut for the Tet Holidays. India adjusted their prices as well but they are still higher the Vietnam since they have a thriving domestic market with little pressure to export. Very little 240’s out there and any being offered will be end of crop and not of the highest quality. We will have new crop next month for shelling so around 2 months till we start seeing shipments. Should be a good decent crop, we advise to book some your 2^nd3^rd QTR needs. Unlike Almonds this commodity has held firm “since it was never too expensive to start”.

Almonds

We are heading into the bloom season, we have had good rain, snow packs. Even with the mantra of El-Nino effects yields we have to take in all the new acreage added, we can expect a huge crop. If you need brown skin because of the pasteurization pipeline, there is a 6 week wait time. So if you need product asap please give us a heads up.

Pecans

Market is very strong, but this could be the ceiling, it’s a strange one, with all other nuts dropping pecans is holding strong at these high prices. China is buying as is Europe even at these high prices.

Pistachios

Very few offers but very little merchandise being offered out there.

Walnuts

This may be the floor, there have been a glut of buying from overseas, saying that we are anticipating a huge crop.

Brazil nuts

With new crop around the corner we have seen the market ease a little bit, so far not much is being offered out from origin, especially not from the better packers, we feel that once the small packers are depleted prices should stabilize. We have lowered our pricing and are offering good deals for both spot as well as forward contracting.

I hope you all had a wonderful holiday and a happy new year.

We look forward to a great 2016 and strengthening our business relationships with you.

Please find a quick market overview.

Cashews.

Unlike a lot of other commodities the Cashew market has been pretty stable in terms of pricing, there have been small adjustments here and there but no epic spikes or dips like Almonds and Pecans. We believe this will continue, only thing we anticipate is a good early crop out of Vietnam, so new crop should come in early March. We are seeing good quotes for 2^nd and 3^rd QTR a few cents cheaper from good packers. We advise you cover at least thru 2^nd  QTR and maybe even some of your 3^rd qtr needs not to run into any surprises that might come up….

Almonds.

Shipment report is out and shipments are down again! commitments are also down, while crop receipts are set to be high and the weather has been finally kind, with rainfall and snow packs forming. G-D has decided after years of favoring the farmers to look kindly now on the buyers, we advise to buy SPOT only and we look forward quoting you on all your needs!

Pecans.

Short crop, damage and disaster has contributed to these high prices along with buying from China (they are only buying pecans). Small pecan growers have been swallowed up by large national companies in desperation to get hold of product. Keep in mind before the crop damage this was meant to be an ON year, so the next year will be an OFF year which will only contribute to keeping pricing high and going higher. It seems like most growers will be chopping up halves to fill their pieces needs and in shell is also trading at record numbers. We expect to see prices stay sky high all the way thru the crop year.

Pistachios.

Not seeing any deals out there when at this time of year you normally do, few packers are even offering. Market is high and seems very stable.

Walnuts.

Market is soft, product is cheap, packers say this is the floor and point to record shipments, while we counter “huge new anticipated crop expected”.

Pine Nuts

Pricing has gone slightly down due to the currency exchange with a super strong dollar against the Chinese currency.

Bentzy Klein