| Make foodmate.com your Homepage | Wap | Archiver
Advanced Top
Search Promotion
Search Promotion
Post New Products
Post New Products
Business Center
Business Center
 
Current Position:Home » News » Agri & Animal Products » Topic

South Africa: Ample supply and cost-of-living crisis affect macadamia prices

Zoom in font  Zoom out font Published: 2022-12-20  Origin: mintecglobal.com
Core Tip: The Mintec Benchmark Prices for macadamia nuts of South African origin (style 1, premium wholes), delivered on a CFR basis Northwest Europe, plummeted by 21% in the four weeks to 15th December, to USD 14.1/kg.
The Mintec Benchmark Prices for macadamia nuts of South African origin (style 1, premium wholes), delivered on a CFR basis Northwest Europe, plummeted by 21% in the four weeks to 15th December, to USD 14.1/kg. The benchmark is also down 28% year-on-year (y-o-y), weighed by ample global supply and the cost-of-living crisis.

“Prices are all over the place, there is big oversupply in the market,” a European trader stated. “Sellers want to move the stock and have been discounting material."

Another trader added: “Demand for whole style has slipped significantly. Macadamias are viewed as a premium tree nut, and with consumer budgets tightening amid rising inflation, sales on macadamia products have taken a hit.”

South African farmers are estimated to produce approximately 70,139 tonnes of macadamias in 2022, 12,400 tonnes more than forecast, and an increase of 32% compared to the previous 2021 campaign, according to Macadamias South Africa.

Production in China, the largest buyer of South Africa’s in-shell macadamias, is also expected to rise significantly in 2022.

 
 
keywords: macadamia
 
[ News search ]  [ ]  [ Notify friends ]  [ Print ]  [ Close ]

 
 
0 in all [view all]  Related Comments

 
Hot Graphics
Hot News
Hot Topics
 
 
Processed in 0.104 second(s), 16 queries, Memory 0.86 M
Powered by Global FoodMate
Message Center(0)