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 2nd
and 3rd QTR a few cents cheaper from good packers. We advise you
cover at least thru 2nd QTR and maybe even some of your 3rd
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
