Sep 27, 2023Nut market report issued by Meridian Growers
Meridian Growers has released its latest nut market update on Sept. 26, which indicates a second shake of pistachios may not be needed. A slight lowering of pecan prices is expected while almond harvest is dragging. The report covers pistachios, pecans and almonds.
For pistachios, the Madera, California, company reports this:
“It appears we are past the peak of harvest and it is looking more likely that the crop will not reach the 1.5 billion pounds stated recently by the largest processor,” Meridian Growers wrote. “Many growers are foregoing a second shake as they had good removal on first shake. With the lower grower base price given this year, a second shake is not economical for some growers due to cost versus lower revenue. With the much anticipated opening price to be announced next week, most buyers and sellers are taking a pause until next week on additional business.”
On pecans, Meridian Growers reported this: “A slight dip in pricing as processors try and clean up their remaining inventory in advance of the expected harvest of Mexican pecans,” Meridian Growers wrote. “This slight dip has pushed buyers to purchase product in anticipation of a price increase later one due to a smaller crop.”
For almonds, Meridian Growers reported this: “Harvest continues to drag on with some shipments being pushed into October forward,” Meridian Growers wrote. “There has been plenty of interest from Europe and Asia, but limited sales due to not having enough information about the crop. Prices have slightly firmed and will continue until there are constant offers being made.”
Meridian Growers is a grower-based sales and marketing company representing a group of California and Arizona growers of pistachios, almonds, pecans and walnuts.
Read more about Meridian Growers here.