The big surprise this month was the January Californian almond shipment report which came in at 194m for the month (v 220m lbs in Jan 2020).
This was the first time since May 2020 that there was a decrease year on year, and which has been explained by the “container crisis” that is affecting many of the products that are shipped internationally – including many of the commodities in this report.
Prices over the past month have seen stronger demand for pecan Halves and good availability of pecan Pieces, which has consolidated the big differential in price between these two generic grades.
Demand is regular and seems to be building if and as Pieces offer good value for money (especially with the weaker USO of late) and Halves look likely to firm further.
The coconut market is still having a torrid time of it.
Quarantine restrictions in the Philippines have continued to impact on staffing and factory output, at the very time that we need a lot more volume shipping.
With reduced capacity in origin and with the backlog from last year still not cleared through, it means that the key factories in both the Philippines and Indonesia are effectively sold out for most of Hl.
Mark Setterfield – February 2021