During the month, all nuts, except walnuts in Russia fell in price – market review for March 2020


During the month, all nuts, except walnuts in Russia fell in price – market review for March 2020

04/04/2020

In the EastFruit monitoring region, all kinds of nut crops have become cheaper

With the onset of spring 2020, activity in the market of nut crops decreased significantly and EastFruit project analysts noted a gradual reduction in the price of all analyzed nut crops in both the western and eastern countries of the monitoring region.

Since the second half of last month, the rapid spread of COVID-19 in the world has had a significant impact on the nut crop trade. To prevent an aggravation of the pandemic, restrictive measures were introduced everywhere, which negatively affected the volume of nuts traded between countries. But, as project experts noted, due to a seasonal decrease in consumption, nuts continued to gradually become cheaper in all the countries analyzed.

Walnuts prices as of Apr 03, 2020

If during the last winter month of the current year prices for walnut kernels were observed in most countries of the region, the situation has changed dramatically since the first decade of March. Only in the Russian Federation did stably high demand strengthen upward price trends, and by the end of the current reporting period, walnut kernel prices in Russia had become the highest in the region, with an average of $ 8.46 / kg. In the rest of the analyzed countries, previously established trends in price growth were gradually replaced by the opposite.

According to market operators, the traditional seasonal reduction in the consumption of nut crops led to a slight decrease in previously established prices in the eastern countries of the region, where traditionally this product is the most affordable among all the countries analyzed. In parallel with this, a more significant price decline in the walnut kernel segment, $ 0.90 / kg and $ 1.67 / kg, according to the results of the reporting period, was recorded in Ukraine and Belarus. According to sellers, only such drastic measures made it possible to maintain the previous sales pace of existing production batches.

Hazelnuts prices as of Apr 03, 2020

Without special exceptions, another month passed in the market for inshell hazelnuts in all analyzed countries. During March 2020, hazelnut prices were not recorded in any country in the monitoring region, and the prices for these products remained unchanged only in Uzbekistan. In other countries of the region, inshell hazelnuts were gradually getting cheaper due to seasonal reduction in demand, while prices in this segment were steadily dropping, both in countries where the most expensive nut was offered, and in those countries where these nuts were previously the most affordable .

According to analysts, negative price trends in the segment of inshell hazelnuts and other nut crops may continue in the coming months. But, at the same time, current restrictions on trade can lead to interruptions in the supply of new batches of products to the market, and in countries where supply will be insufficient, even with low demand, walnut crops will increase in value.

Almonds prices as of Apr 03, 2020

Unlike all other types of walnut crops analyzed over the past month, the almond kernel has fallen in price in all countries of the EastFruit project monitoring region without exception. And it was in this segment of nut crops that the project specialists noted the most significant changes in the previously established prices according to the results of the reporting period, since according to the market operators, it was almonds that demand for the last month decreased most significantly.

Also, project experts noted a characteristic feature on the almond kernel market. So, after a dramatic reduction in prices for almonds from $ 12.24 / kg to $ 10.25 / kg in Russia and from $ 10.73 / kg to $ 8.47 / kg in Belarus, the prices for these products throughout the region have leveled off, and the average range values ​​narrowed to $ 8.18-10.25 / kg, where the first value relates to Moldova, and the highest price was noted on the Ukrainian market.

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