| Crops in the main producing origins are downsized. Australia revised their crop forecast from 55.960 mton to 37.300-41.970 mton NIS. A decrease of approx. 25-30%. South Africa was expecting a crop over 90.000 mton but downsized it to approx. 85.000 mton now, a decrease 8-10%. Some varieties are even hit harder and downsized by 15%. The main reason for the lower crop are the weather conditions. So total availability is significantly down which will have an impact on prices as a lot of commitments made already and higher crop expectations. The US is still awaiting what the import tariffs will be for product from the producing countries and hopefully this will be clear somewhere next week. Quite some business into US still to be finalized but buyers hesitant to cover without knowing costs of imports. Due to the downsized crops, availability will be limited, especially for wholes and Style 2. Ingredient Styles as St 5 and St 6 still available as US did not buy yet. |
