Almond harvesting operations started a few weeks ago in Italy. Quotations for in-shell almonds are up by 15-20% compared to 2023, thus rising from 4500-4800 €/t a year ago to 5200- 5500 €/t (yield basis).
Apulian entrepreneur Pasquale Campobasso, owner of Aziende Campobasso, a well-known company in southern Italy that has been operating in the almond sector for over a century, commented that "traders and operators are suddenly hoarding almonds. The situation in the fields was calm up until July despite the awareness of a reduction in yields of close to 25%, but the trend has now reversed and the tempers of local producers have heated up. The reasons are purely international and are strongly affecting the markets: just think that forecasts for California, an area producing around 85% of the world's production, were optimistic at first due to the record volumes (over 3 billion pounds) generated by the excellent flowering recorded in the spring. Following some technical evaluations, these volumes were later disproved, bringing the forecast down to levels just above those of 2023.
This soon translated into a major trade confusion also on the European continent. "There is a lot of speculation going on in California. The reality is that overseas operators have decided to raise almond prices, as they have become aware of the sharp increase in running costs for farmers, related mainly to pesticides, fertilizers and the increase in energy needed for irrigation, thus pushing up the prices which have risen from $1.70-1.80 per pound (prices referring to the Californian dockside) to the current $2.20 per pound. Of course we are concerned: there is an increase, though with fear of a potential collapse."
In Puglia, harvesting operations started around mid-August with the early varieties (Tuono). All other cultivars (such as Filippo Cea, Genco, etc) are currently being harvested. Harvesting should end in early October at the latest.
For more information:
Aziende Campobasso Srl
Via Casamassima, 58
70010 Valenzano (Bari)
+39 080 467 36 72
[email protected]
aziendecampobasso.it