Almonds: Although the December 2011 shipments from California were 2% lower than 2012, prices continue to firm, due mainly to strong ongoing demand, resulting from its attractive pricing compared to other nut products.

Hazels: Prices from Turkey are still extremely firm and look set to remain so for the remainder of this season. In the short term, this current crop is and will remain short, with much of the major industry still uncovered up to September/October.

Walnuts: There are increasing differentials between the various origins. Reports from California suggest their new crop is already at least 80% forward-sold. Indian prices are a lot cheaper, thanks to a better crop, whereas China’s are somewhere in-between.

Cashews: As a result of poor supply and strong demand, prices at their peak in 2011 were trading at roughly double the price of their historical average. Having peaked in October, prices have subsequently started a downward correction which appears to reveal that buyers might have significantly switched away from cashews for now at least.

Pecans: Current prices are still at levels almost twice their normal historical average, and it is hard to see how demand can be sustained at present levels.

l Based on information provided by RM Curtis