Brazil Nuts Market Update January 2022 Week 4

With the brazil nut harvest underway in the rainforests in Bolivia, Peru, and Brazil, the International Nut and Dried Fruit Council (INC) believe that the new crop's shelling will start in March. 

It is expected that the production for this year will be much, much better than the 2021 season, where in-shell production declined by 40% in Brazil and 20% in Bolivia.

However, this was due to the weather conditions. There is an emphasis on the importance of the weather, especially since heavy rains have been reported in both countries. 

The good news is that there have been no flood alerts, so transportation has not been impacted so far.

Nominal prices decline as trading is relatively subdued at this time of the year. Most of the attention is on the new crop. Suppliers aren't interested in setting any hard reference price from the latest harvest until they have more information.

As the new crop will arrive in the following few months, spot market prices have declined in Europe, with large Brazil nuts from Peru trading at USD 11.38/kg FCA Spain (EUR 10.09/kg).