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Market update 4/5/21

April 6, 2021

Almonds:
Drought conditions are similar to 2014 and persist into early April. Price-wise, NP varieties seem to be firming, while pollinators seem stable.
While Easter week kept some off the market, many are waiting to see the April 9th shipping report &ndash; which appears to be a strong one. Pricing is very low for almonds - low compared to the other nuts used for similar applications.
Port issues are adding difficulty to this market and COVID continues to squeeze labor. Crop size was huge this year and a seemingly large number is expected for next year as well. This will also affect market pricing.

NPS $1.90-$2.60
ABC&rsquo;s $2.40-$2.70
Cal/Carmel $1.85-$2.15

Pecans:
The market was flat to weak last month, with a small amount of spot business getting done. However, many contracts continue to be shipped.
There are still a lot of pecans to be sold and with the weather warming up, we may see a slight dip in in-shell pricing.

Halves have held their price and pieces have increased a bit, especially over last year.

FJMH $4.85-$5.15
Fancy Pieces $2.85-43.35

Walnuts:
With drought conditions in California, Walnuts are suffering the same plight as Almonds and Pistachios. Shipments have been good and supply has been adequate. Prices have been stable for the 1st quarter and the industry is looking for good shipments to continue this month.
Chandlers are tight, causing a slight price increase. There are handlers looking to close down their facilities for the season, so there are some good offers out there this month on Light as well as combo product.
75%-80% shipped and committed is the consensus.

LHP $1.95-$2.10
CHP $1.85-$2.00

Cashews:
Pricing is stable with good demand. Ports are an issue for each category. Vietnamese WW 180-240 are becoming a little sparse and prices will likely increase as a result. India reports similar - stable to bullish.

WW $2.40-$3.40
WW $3.20-$3.00

Pistachios:
Drought conditions are plaguing California. Shipments remain good and pricing is slightly bullish. Iran has shipped the majority of their crop due to lower prices. California packers are well committed and looking forward to seeing how the bloom progresses this week. The high end of speculation for this year&rsquo;s crop is 1 billion pounds - strong for an off crop year.

18-20 X number 1 $3.90
21-25 X number 1 $3.80
Kernels 80 percent whole $7.80



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