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Market Update 3/2/23

March 3, 2023

It is hard to believe it is already March, time is flying by.


Crop still points to a 2.6 billion number and even though less than last year, it is a lot to ship. The strong US dollar is wreaking havoc on other world currencies, making it difficult for some to trade with the US. Buyers are patient, as in other categories, not wanting to leave money on the table. Bloom has had some very cold and wet weather accompany it this year. This has fueled some selling insecurity and a bit of a price bump. We will just have to wait and see how effective the bee flight time was.

NPS $1.75-2.05
ABCs $2.25-45
Cal/Carmel $1.65-1.95


China did buy a good bit out of inshell Georgia in the last couple of weeks/month, some say 30 million pounds. Mexico seems to like the exchange rate and is paying higher prices for inshell, it is up 20 cents per point. The gap between halves and pieces has narrowed. Some shellers are pushing down on the market while others are trying to keep it propped up. Makes for an interesting marketplace.

FJMH $4.80-5.25
Fancy Pieces $4.75-5.20


At the price levels currently in this market the growers are losing money. Rumors indicate older trees are being pulled out. This should help alleviate the seeming oversupply situation.
Or is It is possible that the low prices are actually due more to economic insecurity on a global scale and the manipulation of the major markets (strength of the dollar vs all other currencies)?

LHP 20 $1.40-1.60
CHP 20 $1.25-35


Sales are down similar to most other nuts. Buyers are afraid of more downside. Pricing is attractive. Prices look to stay steady for the foreseeable future. New crop volume looks great in the Ivory Coast and Cambodia.

WW 240 $3.30
WW 320 $2.70
LP $1.90


Most major processors are reportedly in a comfortable sold position. Price is holding fairly firm at current levels. With a crop size of about 865 million lbs (smaller than last year&rsquo;s 1.16B) it makes sense that the market is holding the price given the lackluster shipping last month.

18-22 X number 1 $3.90
21-27 X number 1 $3.65
80 percent whole $7.60

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