Show marktreports:
15.03.2012 Pecans
Processors are quite well sold on bigger Halves as Junior MM Halves. Pieces and Large/Extra Large Halves are easier to find and therefore the gap between those 2 is widening. While it is usually between Usd 0,15-0,25 per lbs, it is now between Usd 0,45-0,65 per lbs. If you still need to cover Jr MM Halves, we strongly advise to cover your requirements. For pieces or Large Halves covering hand-to-mouth seems to be a good a strategy for the moment.
8.12.2011 Pecans
Prices for inshell pecans slowly came down and kernels followed this trend. Reason for inshell pecans (mainly exported to China) to come down is that Chinese demand is out of the market. The Chinese importers need the pecan inshell for Chinese New Year and therefore all had to be shipped before end of November.
As written in our previous reports, processors in USA are still reluctant to cover their needs as they are waiting for the real bottom in price. We doubt whether that is the best approach as you will only know that you have reached the lowest price when it moves up. On the other hand we understand this approach as prices are still very firm. Fact is that part of the crop is damaged because of drought. Moreover, 2012 season will be an off-season and therefore it might be recommendable to take some positions and cover between 30-40% of your annual need.
27.10.2011 Pecans
There is not much to be reported in addition to our last report. Prices are stable. Processors and packers are very busy to prepare the inshell pecan shipments to China which have to leave before the end of November as well as with the deliveries for Thanksgiving in US and Christmas. Our recommendation is to be covered for 2011 and January 2012 and to be patient for later positions.
30.09.2011 Pecans
Current availability of Pecannutkernels is limited. Due to strong interest from China, also first new crop (and probably also later shipments) will be priced accordingly and not expected to discount. Our recommendation is to cover first new crop shipments, probably upto February/March 2012 shipments and be patient for later positions. It would be a great pleasure to serve you with a customized offer and we look forward to hearing from you.
26.08.2011 Pecans
New crop harvest will start in October and first new crop export shipments are expected to leave US from 2nd half November onwards. 2011 crop was supposed to be an on-year and prices were expected to ease. Unfortunately, due to the drought in south western part of the US, the first crop indications are down. Current crop prices are firm. Halves are priced around Usd 7,50 per lbs while pieces are between Usd 6,95-7,20 per lbs (depending on the size). Chinese buyers are already very active procuring new crop inshell pecans. They are coming to US and in contact directly with the growers to cover their needs. Because of this, in combination with downsized supply, prices for first new crop will be firm and not expected to come down much later on.
11.08.2011 Pecans
The market is more or less stable for the moment. It is difficult to find offers for the bigger sized halves as stocks in origin are very limited. New crop is not looking very good and the drought in Louisiana and Texas might have even a bigger impact than expected earlier. Sellers are reluctant to speculate on new crop for the moment.
14.07.2011 Pecans
The Louisiana Growers Association announced the first crop estimation for the 2011/2012 season. This should be an on-year but the forecast given is only 246 million pounds!! Due to droughts, the first indications on the new crop are not good and therefore growers and shellers are not optimistic. The Texas growers released two estimates on the US pecan crop, 261,000,000 and 252,000,000 pounds in shell basis. Keep in mind that these are grower estimates and tend to be conservative. We will keep you updated when more information becomes available. Fact is that China is still highly interested in inshell pecans from all over the world. They are coming to Southern Africa now to pick up all nuts becoming available there and paying high prices. We presume that soonest first new crop will become available in USA they will push prices up again. Our recommendation is to be covered until end of the year. The availability of Halves remains a remark and to be kept in mind for the 2nd half of 2011 while new crop only will be available for December shipment onwards.
19.05.2011 Pecans
The market for pecannutkernels is a steady market. Availability in USA for Halves might become an issue after summer upto new crop in October/November. For this reason we would recommend to cover. South African crop is becoming available in May/June. There is a lot of demand for inshell (as we experienced in the USA as well) from China. They are paying higher prices than they paid for the USA inshell Pecans and pushing exporters and growers for volume.
8.04.2011 Pecans
The market is more or less stable. Prices stay in the same price range for a couple of weeks now. Supply and demand are in balance. The remark to make is that a lot of the crop is committed already and that shortages might occur towards the end of the year, just before new crop is available. Our recommendation would be to be covered until new crop as we do not foresee any reason for prices to ease until indications on new crop (out of an on-year) will become available.
10.02.2011 Pecans
Continuous demand from domestic market is keeping prices firm. As quite some volume is sold already, shortages might occur later in the year on mainly halves. It is our recommendation to cover upto 60-70% of your requirements until new crop 2011 expected November/December.
22.12.2010 Pecans
The USDA reduced their estimate of the 2010 U.S. Pecan Crop to 258,300,000 from 271,300,000 pounds on an in-shell basis. This revised number was not a surprise to most in the industry, as reports of lower orchard productions have been coming in from many growing areas. Import figures thus far from Mexico are also well below last season’s to date numbers, with the total only 61% of the 2009 volumes. Although the estimated total supply for this season seems quite low, given consumption was 457,607,000 pounds last season, we do expect to have a reduction of 40 to 50 million pounds of in-shell shipments to China. Fourth quarter shipments of pecans have been very strong, as consumers have not yet felt the full sting of today’s prices. We would expect the higher prices to impact consumption in our traditional kernel markets going forward. Pecan processors are busy accumulating raw material for 2011 contracts and appear to be reluctant to offer forward sales until their costs can be established. Buyers and Sellers will need to proceed with caution this season as we are all in unchartered waters.
17.11.2010 Pecans
There is still a lot of pressure in the market from the gift packers who can (have to) afford higher prices than the other buyers. We expect this to remain for another 1-2 weeks and hopefully volatility will be out of the market by then. New crop starts to arrive at the factories and will be processed shortly. Prices are very firm for the moment and our recommendation is to buy hand to mouth for December/1st half January shipment and be patient a little bit for the later positions.
20.10.2010 Pecans
As the new crop is around the corner and coming in from now on, prices seem to ease a little bit. Due to limited carry over, there is a lot of demand for the first new crop. Because of this we recommend to be covered until January shipment for the moment. We are following this market closely and will keep you posted on further developments.
24.08.2010 Pecans
As reported in our previous report as well, the off-year 2011-2012 will be better than anticipated. Opposite to this is the expected lower than anticipated Mexican crop. The total availability will be less than the current season and prices expected to stay firm (probably just slight discounts on today’s prices). Question is what prices the Chinese are able to pay and will the higher prices have an impact on their demand. They are becoming a very important factor in this market and crucial for the price development of the nuts inshell. The new crop from USA will become available from December onwards. Other origins are supplying some quantities but those are not really having a big impact on prices.
South African new crop is available for shipment now.
11.08.2010 Pecans
The USDA released the final crop figure for the 2009 crop in July. Based on data submitted by shellers and growers, the USDA estimated the 2009 crop to be 291,830 million pounds (on inshell basis). This is a slight increase over their January estimate and as such will probably have little impact on current prices. Supplies are still very limited and prices remain firm. Based on current estimates for the 2010 USA and Mexican crop, the industry appears to be about 60 million pounds short of what will be needed to handle current consumption. As this is an ‘off-year’ we recommend our buyers to have a close eye on the market and book their requirements at least until end of this year and probably also partly into next year.
29.07.2010 Pecans
Another market that is far from easy. In the past weeks continuous demand on the spot as well as for prompt shipments have pushed prices up. Availability in origin seems to be very limited and therefore coverage until new crop is recommended. New crop offers are not around yet and this could take a little longer as the market is heading for an off year crop and therefore no relief in prices is expected in the near future.
8.07.2010 Pecans
The prices for USA Pecannutkernels are going up. Availability of Halves is becoming limited and therefore prices are very firm. It remains our strong recommendation to be covered until new crop (becoming available for December shipment). The next season will be an off-year. So far the off-year looks good for an off-year but we have another couple of months to go in which a lot can happen as the hurricane season just starts.
11.06.2010 Pecans
The availability of large Halves like Junior Mammoth Halves and larger is drying up while we have another 4-5 months to go before new crop will become available. Sellers are reluctant to offer as they know that some of their existing customers still need to book for 2010 deliveries. Because of the limited availability out of 2009 crop together with the knowledge that 2010 crop will be an off-year crop, we recommend our buyers, despite the strong Usd and expensive prices, to cover their requirements until December shipments from origin.
14.04.2010 Pecans
Market is stable. Interest is slow and buyers are slowly covering their positions until end of the year. It is our recommendation to be covered at least until new crop (i.e. October shipments) and partly for 2010 crop as an off-year is anticipated. Offers are available on request.
31.03.2010 Pecans
The market is steady going. Demand is very limited and prices are stable around Usd 5,00-5,05 per lbs for USA Pecannutkernels Jr. MM Halves.
4.03.2010 Pecans
The current ‘high’ prices of pecannutkernels slowed down demand. Buyers are just awaiting further information before making their calls. Halves will become an issue this season and the availability of pieces is very limited.
It is a little bit depending on the news from China about consumption during the past Chinese New Year but if this is okay we might see further price increases. Our recommendation is not to gamble and cover your requirements until new crop (further is not possible yet) also because we have to keep in mind that the 2010-2011 season will be a short crop.
16.02.2010 Pecans
Prices of Pecannutkernels went up again. Short supply in combination with the increased demand from China at the end of 2009 caused a limited availability for the rest of the season. With the 2010 crop being a short crop, we do not expect prices to ease on the short term. The big question mark is to what level the buyers will accept the prices and when will they stop buying as they cannot afford the prices any longer. Our strong recommendation is to be covered for the rest of the year. Prices are available on request.
8.01.2010 Pecans
As the arrivals of the new crop are disappointing and the Chinese demand has been tremendous, current supply of the new crop to the processors is limited. Prices for kernels went up significantly over the past weeks and prices are quite high. As processors are not sure about the quantities they will be able to buy, they are reluctant to sell forward even with the current ‘high’ prices.
27.11.2009 Pecans
Prices of pecannutkernels are going up as,
1) The Chinese are buying huge quantities of inshell pecans at relatively high prices compared to current kernel prices
2) Increasing demand from packers and industries.
The questionmark is at what price the Chinese will stop buying. At the moment US market is close because of Thanksgiving of yesterday. We will keep you posted on the further developments.
11.11.2009 Pecans
Due to heavy demand, prices for –mainly- halves, are still quiet firm and did not come down yet to more attractive levels. Main interest in the past weeks was coming from the Far East market for inshell but also kernel buyers became more active for the December/January shipments.
30.10.2009 Pecans
The prices of pecannutkernels are firming slightly. The most important reasons for those are the rains in the growing areas what might have an impact on the total crop. The other reason is the continuous and heavy interest of Chinese buyers for the inshell pecans. Current price indications are around Usd 3,65 per lbs for Jr. MM Halves.
16.10.2009 Pecans
We have received the following report from our exclusive supplier Navarro Pecan Company.
The USDA has announced their first estimate of the 2009 US Pecan crop at 309.200.000 pounds on an inshell basis. This estimate is lower than most expected and well below the last on-crop volume in 2007 of 387.305.000 pounds. The harvest in the South East is two weeks late and heavy rains might cause additional delays. Wet conditions in these growing areas have affected the quality of many varieties. Large crops sets on West Texas, New Mexico and Mexico will mean smaller nuts and a smaller percentage of large size halves. Based on the estimate Navarro makes the following assumption about the total supply for the 09/10 season
2009 2008
Carry in Sept 30 80.000.000 (est) 184.424.000
US Crop estimate 309.200.000 193.890.000
Import Mexico 120.000.000 110.000.000
509.200.000 493.731.000
Demand in China for inshell pecans is increasing as the harvest approaches. Jumbo, Jr. MM and MM Halves are actually short and the late harvest will only exasperate this. Buyers needing large halves prior to Thanksgiving should take coverage as prices will likely increase. There is an adequate supply of other sizes and grades to provide a smooth transition to new crop.
Navarro will be exhibiting at the FIE in Frankfurt from Nov 17-19, 2009. We would be very happy to welcome you there and speak about market development and business opportunities.
1.10.2009 Pecans
The new crop for Pecannutkernels will be available in 2 months from now. Interest is picking up although most buyers are hoping for/awaiting for better prices. Probably prices might come down a couple of percent but due to increasing interest (again) from China for Inshell Pecannuts, we do not expect a big decline. Our recommendation would be to take a partly coverage for the 1st half of next year (and avoid the risk) and keep a very close eye on the remaining positions in the weeks ahead.
18.09.2009 Pecans
The first estimates of the new crop of pecans came out this week. The US industry expects a crop of 347 million pounds, which is a reasonable crop for an on-year. The carry-out is expected to be around 80 million. Usual imports from Mexico are around 100 million pounds. This results in a total availability of about 400 million pounds, when a needed carry-out of about 120-150 million pounds is taken into account. This means that supply and demand are expected to be nicely in balance. Prices are expected to stay firm until January as current supply is short especially on large halves. After the holiday season prices are expected to decrease a bit. For the moment the main influence on where the market is going is caused by the activity of the Chinese buyers. Therefore it is recommendable to be well covered for the first shipments and have a look at your later positions to see what can be done.
21.08.2009 Pecans
The 2008 crop was an off-year crop causing with only limited supply. Demand from China for especially the bigger inshell nuts have currently caused a shortage of larger halves. Prices for Junior Mammoth Halves have increased to levels in around USD 3.80/lbs and could continue to rise to USD 4.00/lbs as there is hardly any product to be found. This vacuum will only hold till new crop will arrive as an on-year crop is expected.
29.06.2009 Pecans
Prices for Pecannutkernels are stable although availability of Junior MM Halves and bigger might become an issue during the 3rd and 4th quarter. Therefore prices for those halves might go up a little bit. Our recommendation is to cover for current crop and await the development of prices on new crop. new crop is looking promising and prices are expected to become more attractive.
3.06.2009 Pecans
The prices for pecannutkernels are stable and a little bit better than a couple of weeks ago. Demand is normal for the time being but due to heavy sales to China and a smaller crop, availability towards the new crop might become an issue and prices might go up a little bit before they will come down when new crop will arrive in the market. As the next crop is an on-year, availability should be good (although there are some rumors about some damage in the South East of USA) and prices should come down.