Author Archives Jena Dickson

Pecan Market Update

The pecan market has remained soft in the beginning of 2019. A significant amount of contracting took place in the first half of January, but many buyers are still waiting on market development. The US harvest of pecans is still projected to be reduced from crop estimates due to weather issues in the eastern and central growing regions. A larger Mexican crop balances the reduced supply in the US.

Chinese buying of Mexican inshell has strengthened market prices of late. In addition to this, off-quality in the pecan crop has already created a shortage of pecan halves. The main market forces are: a weakened tree nut commodity price, minimal Chinese participation, and delayed demand. These three factors continue to dictate current price levels.

Putting additional pressure on US/China trade talks is weak Chinese economic data, and US agricultural goods remain a key part of any future trade deal. A recent increase of Chinese inshell purchases have led to a subtle strengthening of the market. Shortages of high quality halves and a surplus of pieces continue to be the most likely result of this season, and our early season projections remain the same. A shortage of better pecan halves will lead to increased prices throughout the season for these sizes. Current market levels will most likely keep the price of pecan pieces stable.

date:  Feb 11, 2019 comments:  Comments Off on Pecan Market Update
by:  Jena Dickson category:  Latest News Read More

Almonds Report

The Almond Board of California has released the position report with shipments of 199.6 million pounds compared to 204.5 million pounds last year for a decrease of 2.4 percent.

DOMESTIC: 53.38 million pounds +0.8%

EXPORT: 146.22 million pounds -3.5%

The December report displays about 97% of Almond receipts, and brings perspective to the size of the crop. This year it reflects a crop size of 2.202 billion lbs, -0.25% down over the previous year. It is affirmed that this year’s crop will be approximately the same as last year: 2.28 up to 2.30 billion lbs.

The Californian weather has been enjoying some constant rain this month, which brings them closer to their normal averages for this time of year. The snow had been below average a couple of weeks ago, but winter storms over the Sierra Mountains have brought some good quantities of snow. It is anticipated to have more rain and snow in the coming weeks.

Over the past few weeks, sales have been solid. Due to producers realizing that the crop will come in below what had been originally estimated, costs have started to increase. All markets hold a strong demand as almonds are competitively priced. Indian prices have recently recovered, and are closer to the Californian spot prices again. Indian buyers have now been more active as a result of this.

California sold 179.6 mm lbs during December, which was an unanticipated new record. This achievement will bolster the confidence that, although some prices have approached a high, demand is still strong.

date:  Jan 16, 2019 comments:  Comments Off on Almonds Report
by:  Jena Dickson category:  Latest News Read More

Desiccated coconut market

First of all we wish you a happy, prosperous and above all healthy 2019! Let’s hope this will be a great year for all of us.

Although we are barely in to the new year, we have already begun to collate information from these origins with regard to the DC market and its prospects throughout 2019.

The second half of 2018 in particular would be best described as “cautious”, with most buyers only covering ‘hand to mouth’. Buyers weren’t rushing to buy at depressed market prices, despite a lot of requests for coverage out to the 3Q and even the 4Q of 2019 being there. Of course, buyers see this as an opportunity to cover their long term needs at today’s prices. But producers are not willing to offer forward positions at the same as today’s rates.

Sri Lanka: DC production is almost at a standstill. Some mills are planning to renew production next week while others will recommence production afterward, when demand picks up. The weather conditions that Sri Lanka experienced over 2018 were very favorable. As a result coconut production is expected to return to normal this year, particularly after the 2nd quarter of 2019. On the demand side, with the early Ramadan this year (the Holy month of Ramadan commences from 1st week in May in 2019) overseas demand for coconut of Sri Lankan origin, particularly from the Middle-East countries, will increase in the upcoming months. Sri Lanka producers foresee this will have an upward effect on the prices.

Indonesia: the supply of nuts will be fine until Q2 of 2019. Coconut oil prices stay on the lower side, which will keep the prices low for the next two months at least. The present coconut oil price has already driven the price of raw nuts in Indonesia down to the bottom. If reduced any further, the farmers will no longer have any interest in the planting of coconut trees. Indonesian packers are concerned that if this happens it will disrupt the supply and rates of coconut long term.

The Philippines: nut supplies remain bountiful, and prices seem to have moved sideways for a few months now which suggests a bottom. Although we constantly see a small price blip in the early new year, as the mills start up at the same time and the farmers take a while to start harvesting again after Christmas. There is no medium term nut supply issues, and prices could increase slightly in this period.

date:  Jan 07, 2019 comments:  Comments Off on Desiccated coconut market
by:  Jena Dickson category:  Latest News Read More

Merry Christmas!

From all the team at Chelmer Foods, we would like to wish everyone
Merry Christmas!!!

Thanks for all your support over the last year. May 2019 be equally “fruitful” for all.

This is the time of year best spent with family, friends and loved ones. Therefore, we at Chelmer Foods are giving some attention to those who don’t have a home. We have made a donation to Crisis at Christmas, so that people who need support to get back on their feet can do so.

Supporting this good cause is something we can do to allow more people to enjoy the holidays with their loved ones.

Wishing you once again a Merry Christmas and Happy New Year!

date:  Dec 24, 2018 comments:  Comments Off on Merry Christmas!
by:  Jena Dickson category:  Latest News Read More