Mar 13, 2024Meridian Growers’ report indicates challenges and opportunities for nut producers
Meridian Growers released its latest crop report on March 13, 2024, revealing notable trends across various nut markets.
Notably, the pistachio market continues to strengthen, driven by robust demand and apprehension regarding the size of the 2024 crop. Concerns over supply have led most processors to withdraw from the market, contributing to the firming of prices, the report indicated.
According to the report, almond prices for CY ’23 have seen a decline, attributed to favorable bloom conditions and anticipation of a substantial crop in CY ’24.
“We expect prices to bottom out over the next couple of weeks as there will be a push to offload CY ’23 to have minimal carryover,” Meridian Growers noted in the report.
In contrast, the pecan market remains relatively stable, showing little deviation from the previous week’s figures.
Overall, the latest crop report indicates a mix of challenges and opportunities for nut producers.
