Tuesday, February 09, 2016

Market Report 2/9/16

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

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 2nd3rd QTR needs. Unlike Almonds this commodity has held firm “since it was never too expensive to start”.

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.

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.

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

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.