CATZINFO – DRIED FRUITS AND WALNUTS
As usual in our last CatZinfo of the year we have a short review of the year and some thoughts for the coming year.
Actually there were no records broken for big or small crops, nor other product related issues were real topics.
The turmoil came from the political sources, for which Brexit and the tariff war started by Mr. Trump were the main ingredients.
These were also partly the reasons for a very cautious approach of most buyers, not willing to take long term positions due to these geopolitical uncertainties.
The rate of the dollar against the euro was actually very flat this year: with a high of 1,155 in January and reaching it lowest point Oct 1 at just below 1,09.
For the coming year, we can only hope the increased interest for healthy dried fruits and nuts will continue.
Also the growing awareness for sustainability and the more and more popular trend for a (sometimes part time) vegetarian lifestyle, is positive for our products
We therefor are optimistic for 2020 and will be happy to assist also next year with your buying decisions.
We wish you a nice Christmas time and a healthy and prosperous 2020!
Below just some short lines about the current situation for some of our products:
First shipments did arrive in Europe of Chinese dried apple products, but cannot yet fulfill all requirements yet. Furthermore still offered quantities limited. We expect some easier pricing first weeks of 2020, although after Chinese new year prices “traditionally” increase and will have to see what will happen this time.
The tight situation in the Philippines with regard to the supply of the green bananas has been worsened by the typhoons beating the country in the last weeks
As reported above, there has been a severe typhoon in main coconut origin The Philippines last week.
Crop output in the affected area is expected to be 30-40% lower for 2020.
Due to this, prices on desiccated coconut are continuously moving upwards
Market firming due to smaller crop. Spot material is getting scarce.
In spite of larger demand in this seasonal period, prices remain stable as supply situation has improved compared to last season.
It is expected also the South African crop will be much better than last year’s disaster crop with only 1500 tons.
With canneries still running low, the availability of the core pineapple is still way below the needed volume to fulfill the requirements for the dehydrated product.
Most packers still completely withdrawn or maximizing quantity to 100 cartons per load.
Papaya is getting a little better, but it will still take a couple of months before the backlog in production and shipments will be gone.
In transition to the new crop in Chile market is slow. Some odd containers are still for sale from Chile.
Prices more or less unchanged with a discount for the leftovers.
New crop may be a little disappointing due to the drought and for this reason shippers are reluctant yet to offer already crop 2020, as first wish to see what the final crop will be in their hands.
No further news from the development of the new crop 2020 from the Southern Hemisphere. SA is developing well and heading for a larger crop.
Chile is anxious to see to what extend the drought will have affected the coming crop and holding back on offering already.
Turkey has shipped about one third of its crop of about 310K tons at steady prices.
California still struggling to lift prices, but so far in vain.
The November shipments from California resulted in an almost equal tonnage shipped compared to last year.
With a smaller crop (-6%) this encourages the Californian walnut industry to maintain their higher price levels.
For Chile it is too early to make an educated guess on the new crop and prices are not yet offered.