Just over a week ago, the Spanish Ministry of Agriculture, Fisheries and Food published an analysis of the 2021/22 nut campaign and the first forecasts for the 2022/23 campaign that is now starting.

Last season, the almond production reached 370,727 tons; 20% above the average of the last 5 campaigns, but 12% below the volume harvested in the 2020/21 campaign, when it amounted to 420,892 tons. This was due to the impact of the frosts of April 2021.

Besides being the most produced nut in the country, almonds are also the most imported and the most exported. Between September 2021 and August 2022, they accounted for 62% of the total volume of nuts imported by Spain, with a volume that came close to 120,000 tons, and which entailed an increase of 14% over the previous season and of 17% over the average.

The supply from the United States, which is Spain's largest supplier of nuts (mainly almonds, pistachios and walnuts), stood out the most. In the 2021/22 season, Spain imported 580 million Euro worth of nuts from the United States (76% of the total); an increase of 27% compared to last season and of 9% compared to the average.

As for exports, shipments of Spanish almonds exceeded 110,300 tons; an increase of 4% over the previous season and of 16% over the average of the last 5 seasons. These accounted for 92% of the country's total nut exports.

Almond prices last season were higher than in the previous one, although in the case of the Comuna and Guara varieties, they stood below the average of the last 5 years, as evidenced by the prices recorded in the markets of Reus, Murcia and Albacete. Organic almonds were, in all cases, the ones reaching the highest prices, with values exceeding 8 €/kg.

Production forecast for the 2022/23 season
The first provisional estimates from the Ministry suggest that as a result of the spring frosts in 2022 and the dry weather recorded in irrigated areas of the Guadalquivir Valley, the almond production will fall by 44% this season and reach 209,000 tons (-40% compared to the average of the last 5 campaigns). The sharpest declines will occur in Andalusia, where the production is expected to fall by 57% compared to the previous year, as well as in the Region of Valencia, with -55%; Castile-La Mancha, with -40%; Murcia, with -34% and Aragon, with -28%.

The first data on prices for this season reveal upward trends compared to the previous campaign for Marcona and Largueta almonds and, for now, declines in the prices of organic almonds.

Source - https://www.freshplaza.com