Macadamia Market Overview April
release time:
2024-05-09
Observed transactions in macadamia trade for April show an arrest in the price declines of the previous three years and confirm expectations that 2024 will see a price recovery for both kernel and NIS categories.
March and April are typically quiet months for macadamia trade as Chinese demand drops off after that country’s new year’s celebrations at the end of January or early February. China is the key driver of annual demand for NIS products, with shipping peaking from September to January.
This year, March and April have been defined by bargain hunting as Chinese buyers seek lower NIS prices for the high demand period ahead. Early 2024 season prices have also been influenced downwards by a greater volume of NIS products being available from Kenya after its government temporarily lifted a ban on the export of unprocessed macadamia nuts late last year.
However, as Chinese buyers purchased virtually all rollover stock from grower countries in late 2023, there is currently limited product on the market leading to supplier expectations that they can return to more sustainable prices, last seen in 2022 and before.
With Kenya and Malawi’s 2024 harvests hitting the market in the first quarter of the year, a price gap between whole kernel styles and ingredient styles (especially Style 4 and Style 4L) has been observed. European demand for whole kernels is showing signs of recovery, leading to improved prices for Styles 0,1, and 2. Shipping of kernel products to Europe usually peaks in the third quarter of each year.
Market observers remain concerned that price increases don’t deter demand recovery after four tough years for producers. The industry also has an eye on innovation by food and cosmetics manufacturers key to creating demand for macadamia products, which has accelerated under last year’s low prices but may reduce with upward price movements.
Source:Internet
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