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
