News About the Nut Business
October 12, 2011
Chances are you’re aware of the benefits of eating nuts. Cashews, for example, are a good source of magnesium, selenium, zinc, iron and potassium. Almonds, eaten regularly, are known to lower total and Low Density Lipoprotein (LDL, the “bad” cholesterol), respectively, by four and five percent. Along with the fact nuts are a good source of protein, scientific evidence suggests that eating 1.5 ounces of nuts each day as part of a diet low in saturated fat and cholesterol may reduce the risk of heart disease.
Whether the widespread appeal stems from the taste or nutritional value -- or both - in our experience nuts as a corporate gift are always well received. This year we introduced Mediterranean Spiced Almonds to our line. We thought they were unusual and tasted great when we sampled them. Equally important? The price of cashews and mixed nuts have increased significantly this year, so we wanted to offer a price-conscious solution to nut-loving buyers.
If your clients have their taste buds set on cashews, here is some cashew industry news they may find helpful.
- Cashews are grown on trees. It takes 3-7 years before the trees begin to produce nuts. Given climate requirements, they can only grow in certain regions of the world. The supply, therefore, is relatively fixed. One year of lousy weather and a poor harvest and prices rise.
- In May, according to www.FreshPlaza.com, an independent news source for companies operating in the global fruit and vegetable sector, raw cashew prices had been on the rise more than 18 months, and hit an all-time high of $1,800 per ton in the international market. By itself that number is meaningless. But it represents a growth of 100 percent since 2009-2010.
- The per ton increase was primarily due to a 25 percent drop in the crop globally. Other factors include competition from Brazil and Vietnam for import of raw nuts, and political turmoil in the Ivory Coast, which crippled supplies. (About 400,000 tons were held up by the Ivory Coast.)
In a nutshell (pun intended!), availability of good quality raw cashew nuts is limited this year. Much of the Ivory Coast will have lower kernel yields and a higher percentage of lower-quality grades because of inadequate post-collection handling and delayed shipments.
Whether the widespread appeal stems from the taste or nutritional value -- or both - in our experience nuts as a corporate gift are always well received. This year we introduced Mediterranean Spiced Almonds to our line. We thought they were unusual and tasted great when we sampled them. Equally important? The price of cashews and mixed nuts have increased significantly this year, so we wanted to offer a price-conscious solution to nut-loving buyers.
If your clients have their taste buds set on cashews, here is some cashew industry news they may find helpful.
- Cashews are grown on trees. It takes 3-7 years before the trees begin to produce nuts. Given climate requirements, they can only grow in certain regions of the world. The supply, therefore, is relatively fixed. One year of lousy weather and a poor harvest and prices rise.
- In May, according to www.FreshPlaza.com, an independent news source for companies operating in the global fruit and vegetable sector, raw cashew prices had been on the rise more than 18 months, and hit an all-time high of $1,800 per ton in the international market. By itself that number is meaningless. But it represents a growth of 100 percent since 2009-2010.
- The per ton increase was primarily due to a 25 percent drop in the crop globally. Other factors include competition from Brazil and Vietnam for import of raw nuts, and political turmoil in the Ivory Coast, which crippled supplies. (About 400,000 tons were held up by the Ivory Coast.)
In a nutshell (pun intended!), availability of good quality raw cashew nuts is limited this year. Much of the Ivory Coast will have lower kernel yields and a higher percentage of lower-quality grades because of inadequate post-collection handling and delayed shipments.
