In follow up to our last report, the June shipment figures from California were published on the 12th of July, indicating a total inshell equivalent of 41.791 tons. This is a new record for June shipments from California, confirming the strong demand and directly adding fuel to fire when it comes to pricing. On top of the proven demand, are the continuous issues in terms of sea freight a driving factor behind pricing as well. Looking at the increased transit time for containers from California, the new crop is expected to arrive later than usual at the main destinations in Europe, Asia and the Middle-East. As a result, we see increasing pressure on the spot market for any positions between spot and December pick up. Given the current market outlook, plus the fact that also Chile seems to running out on their last volumes of halves, can coverage till the end of the year be advised.
