Macadamia Nuts Market Update September 2022 Week 38

Macadamia nut demand has increased over the past few years, mainly by the Chinese demand for nut in-shells. However, with a struggling economy, sporadic lockdown, and the fact that China's domestic crops are now sizable, this demand may be decreasing. Global inflation is definitely not helping the situation and consumer behavior, which is denting demand too.

As you know, the Euro and British Pound have also fallen against the US Dollar in recent months, which has led to high prices. However, this isn't always bad news. From the South African perspective, the weaker Rand against the USD/Euro has led to origin goods being sold cheaper. So, with a crop estimated to be 68,000 MT of nut in-shell against a previous estimation of 62,000MT, there's more added pressure to sell. 

Do note that there has been downward pressure on grades of Style 4L halves and pieces, which look to have better value and are more in line with the quality of other varieties of nuts.