Dried Fruit and Nuts Commodity Market Analysis
Key themes affecting the dried fruit and nuts market
For the US, China’s retaliatory import tariffs, introduced in recent years, are a continuing challenge. Despite this, the US succeeds in boosting its overall exports of almonds each successive season, along with pistachios and walnuts. This is due to a very successful marketing programme which has generated strong buying interest, driven in large part by the positive health message behind almonds.
Rising consumption in China and elsewhere in Asia, such as India, is a recurring theme as the population of these countries become increasingly affluent and adopt a more westernised diet. Macadamia nuts also feature prominently in Asian countries and leading producing countries such as Australia and South Africa have been heavily promoting their product to the region.
The global prune industry is suffering a blurred outlook where falling consumption and high carry-over stocks are pushing down prices despite weak crops in large supplying countries such as Argentina. With both Chile and Argentina predicted to have smaller than average 2020 prune crops this should be a good opportunity for US prunes.
The Turkish hazelnut market remains very volatile, being driven not just by supply and demand dynamics but regular speculative activity, farmers and middlemen holding back stocks and fluctuations in the Turkish lira.
The 2020 coronavirus breakout in China is impacting trade flows to and from the region and has potential to hamper its exports of dried apple as an example.
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