20 July, 2007
The start of the new almond season harvest is two months away and the news continues to support earlier forecasts that the Californian harvest is looking good. The forecast at the end of June was 603,000 tonnes.
Current almond crop availability appears to match the steady demand and prospects of such a big new crop must limit any major price increases into 2008.With China and Eastern Europe now finished for the walnut season, the only stocks available are Indian walnutsAlthough it is too early to forecast new season production in China, with its domestic consumption increasing the need for a much improved crop supply is essential and anything less would be bad news for walnut pricing into 2008.For cashews, prices remain quiet. Although prices continue to benefit from further weakness of the dollar, raw material supply overall is meeting demand.Demand for pecans in Europe will pick up from late summer until Nov-Dec, so we can expect to see the current general inactivity kick started within the next couple of months. The extent to which either increased demand or poor weather will impact on the remaining pecan inventory remains to be seen. What seems clear is that price reductions over the rest of the crop seem unlikely at best.Pistachio prices remain relatively stable into the last quarter of 2007.RM Curtis' trading director Mark Setterfield in Edible Nuts & Dried Fruit Market, May-June 2007