– We have seen Brazil nut prices stabilising in recent weeks. The massive demand for Bazils from South Korea continues at around 30% of Brazil, Bolivia’s and Peru’s combined production, but we are now seeing early signs of a recovery in demand from Western Europe and the US.
– Since our last report, some of Turkey’s exporters have reduced their new crop estimates, with some of the lower numbers now at just 210,000mts. If correct, these figures would indicate an approximate 30% decrease in sultana production.
– The long, hot summer has had a positive effect on the Bulgarian crop. Consequentially, new season opening prices are a little lower than at the end of last season.
Mark Setterfield – October 2018