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Nuts & Dried Fruit
Peanuts, Almonds, Hazelnuts & Cashew nuts
33
The Argentinian peanut MBP (40/50 CIF Rotterdam) fell by 1% m-o-m in May, to USD 1,440/MT. The market
has been relatively steady since mid-March, dipping only temporarily for a couple of weeks in mid-May, by USD 20
to USD 1,430/MT, before returning to USD 1,450/MT in the last week of May. For the upcoming US crop, dry
weather conditions in parts of the southern US have been hindering US peanut plantings.
The US almond MBP fell on average by 1% m-o-m in May and was down by 7% y-o-y to USD 1.84/lb. Prices
were heavily influenced by the latest USDA subjective almond forecast published on 12th May, estimating a
production growth in California (2021/22) of 3% y-o-y to 3.2 billion pounds, against most market expectations. On
an annual basis, the benchmark continues to be pressured by excessive global supply.
The MBP for Turkish hazelnuts fell 3% m-o-m in May, and was down by 11% y-o-y, to USD 635/100kg. The
hazelnut industry shares an optimistic outlook for the upcoming Turkish hazelnut crop, with only localised damage
expected from the earlier spring frosts. The International Nut and Dried Fruit Council (INC) recently projected the
2021/22 Turkish hazelnut output at 790,000 tonnes, which is 60,000 tonnes more than last year. In addition, the
depreciating Turkish lira continues to convert to lower prices in USD-denominated export markets.
The MBP for Vietnamese cashews has been boosted by solid demand in rising prices of raw cashew nuts of West
African origin. The benchmark was up by 3% m-o-m and 10% y-o-y in May, at USD 3.18/lb. Prices have been
also supported by the anticipated production declines in key growing origins (Vietnam and West Africa), where
crops have been adversely affected by erratic weather conditions.
Peanuts 40/50 (AR) CIF Rdam (MBP)- USD/MT
Jan 19 May 19 Sep 19 Jan 20 May 20 Sep 20 Jan 21 May 21
1,000
1,100
1,200
1,300
1,400
1,500
1,600
1,700
1S01 - Peanut 40/50 (AR) cif Rdam (MBP)
Almonds standard 5% FAS US (MBP) - USD/lbs
Jan 19 May 19 Sep 19 Jan 20 May 20 Sep 20 Jan 21 May 21
0
0.5
1
1.5
2
2.5
3
3.5
NAL1 - Almond std 5% FAS US (MBP)
Hazelnuts 11/13 (TR) cfr EU (MBP) - USD/100kg
Jan 19 May 19 Sep 19 Jan 20 May 20 Sep 20 Jan 21 May 21
400
450
500
550
600
650
700
750
800
4P01 - Hazelnut 11/13 (TR) cfr EU (MBP)
Cashew nuts W320 fob VN (MBP) - USD/lbs
Jan 19 May 19 Sep 19 Jan 20 May 20 Sep 20 Jan 21 May 21
2
2.2
2.4
2.6
2.8
3
3.2
3.4
3.6
3.8
1Y11 - Cashew nut W320 fob VN (MBP)