India starts the harvest year with shipments totaling 27.9 million pounds
pounds, which corresponds to an increase of 24 % compared to the previous year. After a sluggish July, the market has
market activity slowed over the course of the month due to dwindling local inventories and prolonged
transit times. As a result, prices have risen. It is expected that demand
October and into November will remain robust as the market prepares to meet post-Diwali demand.
Shipments to the region amounted to a total of 5.5 million pounds, which represents a
a decrease of 35 % compared to the previous year. Chinese buyers have increasingly favored Vietnam due to its customs advantage.
3.8 million pounds, which corresponds to an increase of 71 % compared to the previous year.
compared to the previous year. Buyers have returned to the market and have gained confidence that prices will remain stable.
that prices will not fall in the near future. The Mid-Autumn Festival, which is being celebrated this week
(September 15-17) will be closely monitored in order to gain insights into consumer demand. This
This holiday, a precursor to the Chinese New Year, will boost purchasing activity in the
weeks before the festival.
Shipments to the region reached 38.7 million pounds, a decrease of 40 % compared to the previous year.
year. Buying activity has slowed in Europe, resulting in a more cautious market. The buyers
Buyers are currently only making minimal purchases and are hoping for signs of prices calming down before they
before placing larger orders. This hesitation prevents larger purchases that go beyond the immediate
Demand. As prices remain stable with no signs of a decline, purchasing activity is expected to remain stable.
the region is preparing for the upcoming vacation demand.
Shipments to the region amounted to a modest 10.2 million pounds, a decrease of 41 %
decrease compared to last year. This decline was due to the limited activity of buyers.
in anticipation of lower prices at the end of the last harvest year. As local supply has decreased,
activity has increased recently, with buyers requesting prompt deliveries. The demand
Demand is likely to remain strong in the coming weeks, as Ramadan in the year
Ramadan 2025 and the need for shoppers to stock up well in advance due to longer transit times
Times.
In August, shipments totaled 62 million pounds, a modest increase of 1 % over the previous year. After a turbulent year for monthly shipments, it is promising to see the domestic market off to a positive start despite limited stocks of in-demand products. New sales for the month were 9.1 million pounds, with total commitments down 26.8 % year-on-year. However, on a positive note, there has been an increase in sales in recent weeks as buyers adjust to the prices of objective estimates. With significant demand still to be met for the current crop year, buyer activity is expected to continue.
Total commitments for the year start at £607.6m, a decrease of £2 % on the previous year. However, uncommitted stock has fallen significantly to £11.1m, a decrease of £68 % on the previous year. New sales have also fallen sharply, down 62 % to 159.3 million pounds, as buyers postpone purchases in anticipation of lower prices. With an expected harvest of 2.8 billion pounds, current supplies and commitments account for 24 % of total supply. of total supply, down from 26 % last year.
Although industry commitments have fallen by 2 %, available stocks are below last season's levels. Given the recent increase in demand for immediate deliveries, the industry is expected to close this gap and regain lost ground.
Crop receipts for the year start at 290.1 million pounds, an increase of 314 % compared to the previous year when harvest was delayed by 2-3 weeks. Recently, concerns have arisen about lower yields in the southern region of the Valley. Valley have surfaced, causing many in the industry to question the feasibility of a 3.0 billion pound crop. Some even speculate that the final yield could fall below 2.8 billion pounds. As a result, California packers are taking a cautious stance and limiting their offers until there is more clarity on the potential of the new crop.
The 2024 harvest year begins with mixed results. Shipments fell short of expectations due to weaker demand at the end of the 2023 harvest year. Buyers entered the new season with caution, anticipating possible price pressure at the start of the harvest. Unlike last year, when the industry was faced with considerable carry-in pressure, this year there is no longer any such pressure. Despite subdued demand, prices have remained stable and show no signs of falling. With demand to be met and stocks to be replenished, prices are likely to remain supported, especially as regions prepare for the vacation season.
As the harvest progresses, the industry will continue to assess the quality of the crop and the supply potential. The outlook for overall supply remains uncertain until more clarity is gained on initial stocks.
Senior Sales Director Nut Ingredients
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