Monthly Archives January 2018

South African Vine Fruit; Thompson’s & Currants

The crop in Vredendal will be severely affected by drought as some producers are running out of water before harvest time.

This is really unfortunate as the crop would have been better than last year if water supply was not a limiting factor.

The currants crop may be down by 25-40% vs last year and the Thompsons in that region down by  20-30% vs last year.

Producers are starting to harvest and they are using the last available water to irrigate the vineyards producing the highest yields.

Final crop numbers will be available within the next 6 weeks.

date:  Jan 17, 2018 comments:  Comments Off on South African Vine Fruit; Thompson’s & Currants
by:  Chris Wilding category:  Latest News Read More

Walnut crop December 2017 shipment report & market update

The December 2017 shipments versus the December 2016 shipments on an in-shell equivalent were very similar.  67, 363 In-shell tons versus 67, 701 last year.  

The current receipts for the Walnut crop are at 614,979 tons.   The crop will be slightly higher than what the market had been expecting and lower than the Crop Estimate of 650,000 tons, and  significantly less than last year’s 680,000 tons.

Many markets are receiving both their in-shell and kernel loads shipped out in October/November.  The quality of the crop continues to impress with great colour and High Yields.  The quality has taken some people by surprise due to all of the high heat days we had this summer.  Many industry experts state this is the best quality California has had in many years.

Turkey has been active the past few weeks since the import taxes were reduced from over 40% to 15%.  All major Turkish buyers have been active with hundreds of loads being purchased in the past few weeks.

The Chinese crop is selling at cheaper prices than the California crop at this time resulting in some market rot claims in the market. We will have to watch whether China will come back in to buy for this year’s Walnut crop.

The jury is out on India right now coming back in to buy in any real volume.  Time will tell , but there is some industry experts that believe India will not come back to buy in any significant volume for the rest of the Walnut Crop Year and they will switch to purchase Chilean walnuts in the next two months.

There are numerous economic challenges and market dynamics impacting various markets during the beginning of 2018. We will continue to keep up updated on any market changes.

date:  Jan 17, 2018 comments:  Comments Off on Walnut crop December 2017 shipment report & market update
by:  Chris Wilding category:  Latest News Read More

Pecan Market Update – January 2018

The North American Pecan supply is currently projected as follows:

Projected US crop: 280 million lbs (in shell)

Projected Mexican crop imports: 90 milion lbs (in shell)

Projected 2016 / 2017 crop carry in: 129 million lbs (in shell)

The crop quality appears to be predominately good despite earlier concerns with weather issues and storm damage. A smaller crop helped overcome adverse weather and storm conditions. Certain growing regions have experienced some quality issues, Central Texas, Southern Georgia, parts of Northern Mexico, generally however these are an exception to the Western growing regions which are reporting high volume of excellent quality, this is mostly New Mexico area.

Exported in-shell volumes have remained stable for the 2017 season, despite some sluggish retail sales in Asia. There remains limited export quality sized pecans left in the US, likely to be purchased come the Chinese new year.

Pecans prices have generally lowered due to decreased costs and slower consumption, however, market sentiment appears to suggest we have reached the lower levels and that prices now will look to strengthen as the season progresses. Price are expected to trade lower than the highs of 2017.

date:  Jan 16, 2018 comments:  Comments Off on Pecan Market Update – January 2018
by:  Chris Wilding category:  Latest News Read More

December 2017 Almond Position Report Summary

The Almond Board of California has released the December shipment report with shipments of + 204.5 million pounds compared to last year at  156.2 million pounds for an increase of  +30.9 percent.  The industry had been expecting a record shipment number for December.

  • Domestic     + 7.7%
  • Exports         +41.6%

YEAR TO DATE SHIPMENTS:  + 1.038 billion pounds compared to  950.8 million pounds last year for an increase of +9.23  percent

The crop receipts are now at +2.207  billion pounds.  It appears the crop will reach 2.25- 2.30 billion pounds this year.

All markets were active in buying and taking shipments.  Prices on many key items firmed up by 5 cents per lbs.  New sales during December were at  +165.9 million pounds.  The Industry is now sold at  64.8% percent for total supply and 76.7% percent on the new crop.

The shipments for January look to be a new record as well.  Many expect shipments up another 20-25% over last year.  Cheap prices are definitely increasing consumption!   January is full for all packers.  Many packers are now full for their February production schedules as well.

California received some welcomed rain storms the past 7 days!  In Sacramento there are now 7.13 inches compared to a normal year of 8.11 inches, so 88% of normal for rains.

date:  Jan 12, 2018 comments:  Comments Off on December 2017 Almond Position Report Summary
by:  Chris Wilding category:  Latest News Read More

Sultanas & Raisins Market Report

The end of 2017 saw a very stable market in Turkey for Sultanas and a slowly but surely increasing market for Raisins. Pricing at the end of the December for STD 9 Sultanas was around the $1400 to $1475 per metric ton FOB Izmir with Thompson Select Raisins trading at anywhere from $2100 up to $2400 pmt FOB Izmir.

Since the start of 2018 prices have increased significantly upon high demand from the European markets and increased competition amongst packers to buy material locally to meet contracts already in place, Sultanas are now trading at $1650 to $1750 and Thompson Raisins at $2600 to $2800 FOB Izmir. The demand coming from European countries has been to see companies through until new crop in August/September and this increased demand has meant that packers are increasing their buying which has of course led to farmers pushing prices up locally. Thompson Raisin demand has also increased as buyers look for cheaper alternatives compared to Californian Raisins ($3150 – $3350 pmt C&F Felixstowe) where pricing continues to run away due to a decreased and damaged 2017 crop. Offers from California are now few and far between but those holding out for relief from Chilean or South Africa will be disappointed as both origins have increased their cost citing poor crops and increased demand due to California’s struggles. Chilean & South African new crop won’t hit the UK market until some point during April at it’s earliest.

With prices in Turkey increasing day by day and seemingly unlikely to stop any time soon, our advice to customers is to only buy on a hand to mouth basis in the coming months. The next key period to determine where pricing will go over Q2 to Q4 will be March & April as the risk of frost during this period can either damage the vines or it doesn’t and we get another good crop come August, either pushing prices up even further or reigning them back as farmers look to clear inventory before new crop.

date:  Jan 09, 2018 comments:  Comments Off on Sultanas & Raisins Market Report
by:  Chris Wilding category:  Latest News Read More

Chinese Pumpkin & Sunflower

We would like to share the market report as follow:

Chinese pumpkin shineskin, remains predominately at a similar and stable level.

Chinese new year will coming soon, and roasters still mostly demand GWS, the price of shineskin may come down slightly, but because shine skin price is competitive, and GWS price follows, generally it’s still higher than Shineskin.

At the same level grade sunflower kernels, price has increase slightly, because of reduce the planting area, and export lack remains, some price has adjusted upwards, because the rate of RMB and USD, RMB has devalued somewhat at the moment, from 6.65 it has come down to 6.46.

Market offers can be seen in the region of:

CFR EMP $ per mt

GWS A       2385-2425

GWS AA     2685-2725

shine skin A  (30-35% green kernels) 2180-2225

shine skin AA  2780-2825

 

date:  Jan 05, 2018 comments:  Comments Off on Chinese Pumpkin & Sunflower
by:  Chris Wilding category:  Latest News Read More

California Walnuts update

The walnut crop has come in around 45,000-50,000 tons short of the estimate of 650,000 tons. The crop had a higher percentage of dark kernel most likely come in around 620,000 tons, totalling about 9.6% down from last year’s crop of 686,000 tons. The crop was late by about 2 weeks this year causing a slow down in shipments for the first couple of reports. As of right now the industry is behind last year’s shipments 30 percent on in shell and 12 percent on kernels. As a reaction to the crop being shorter than the estimate prices jumped about 50 cents per lbs. Combo material has been s compared to what we’ve seen the past few years. The light material that was produced was good quality with higher than average half counts. The overall crop will very difficult to find and prices for combo have stayed firm over the course of the marketing year since Harvest started. There seems to be some continued pressure on chandler kernels and high half count products. This coupled with the mounting pressure to perform this month on shipments we will learn a lot about the industry in about a week once the shipment report is released. Until then most buyers are waiting to see what California shipped in December before making their nearby purchases.

 

 

date:  Jan 03, 2018 comments:  Comments Off on California Walnuts update
by:  Chris Wilding category:  Latest News Read More