NUTS Average year 'at best' seen for SA's nut industry

High stock levels of most nut varieties around the world led to subdued prices in 2022, and with high carry-over stock, prices are not expected to recover in 2023.

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While some nuts saw a decline of up to 25% in prices, pecans and pistachios were the only two varieties that traded higher in 2022 than in 2021.

This year, however, pecans are expected to join macadamias at the lower end of the price scale as high global inflation and the fallout from the COVID-19 pandemic constrain consumers’ buying power.

Andreas Snyman, GWK’s head of nuts and international marketing, noted that traders, wholesalers and customers were “nervous about a possible recession all over the world”.