| The season is well under way in South Africa and Australia after some slight delays due to wet weather conditions in certain areas (Northern Rivers, Australia and KZN, South Africa). The quality is looking rather good again and the first shipments are shortly on the water to the various destinations. Demand overall has been very good with prices especially for snacking styles, like style 0, 1 and 2, remaining firm. The main concern in the market and particularly for South Africa is the uncertainty regarding the tariffs from the US. Will they remain at 10% or is there a risk that they will be higher. Yesterday (May 21) there was the visit of President Ramaphosa of South Africa to the Oval Office of President Trump to discuss the tariffs and mutual economic opportunities and investments. It was not a very smooth meeting so let’s hope the discussion behind the screens went a bit more smooth. On the NIS side we see that demand continues to be around and that there is quite some pressure to get the shipments out in time. This is good news and also the slight increase in prices makes NIS a better alternative again to mitigate the risk. Our recommendation remains the same to make sure that you are covered for most of your snacking styles. On ingredients there are still attractive offers around that would hopefully also fuel some more product development of this beautiful and healthy product. In case you are looking for some offers please don’t hesitate to contact our office! |
