Brits are facing a surge in Brazil nut prices after climate change hit harvests in Bolivia.
Bolivia, which exports about half of the world’s supply of Brazil nuts, has warned its 2017 harvest, set to finish in April, is looking poor. Exports from Bolivia could drop by 40%-50% on last year, which was already relatively low at 21,400 tonnes of shelled nuts, suppliers warn.
Total production across Bolivia, Brazil and Peru could drop by as much as 50%-70%, according to forecasts.
Spot prices for Brazil nuts reached $4.20/lb FOB (free on board) this week, with some suppliers trading organic nuts at prices 20% higher than last year due to tight supplies.
Bolivia’s Brazil nuts yields have been hit by adverse weather as a result of climate change, according to Liberation Foods, which imports Fairtrade Brazil nuts to the UK.
Local gatherers have predicted a poor Brazil nut crop since January 2016, when they noticed flowers had dropped from trees before their usual pollination time. The situation was compounded by a lack of rainfall in November, which is a “critical time” for the crop.
The 2018 harvest is also “looking bleak” because unusually high winds in the region have blown flowers from trees, the supplier warns.
A Bolivia government representative has committed to develop solutions to the climate change problems affecting the sector, Liberation says. “We are in everyday contact with our partner co-operatives both to secure volume to sustain sales and to better understand and help to manage the challenges,” says MD Kate Gaskell.
The shortages come amid strong demand for Brazil nuts in the UK. “Our sales of Fairtrade nuts increased by around 20% last year - with Brazil nuts increasingly recognised for their great nutrient content,” Gaskell adds. Brits are facing a surge in Brazil nut prices after climate change hit harvests in Bolivia.
Bolivia, which exports about half of the world’s supply of Brazil nuts, has warned its 2017 harvest, set to finish in April, is looking poor. Exports from Bolivia could drop by 40%-50% on last year, which was already relatively low at 21,400 tonnes of shelled nuts, suppliers warn.
Total production across Bolivia, Brazil and Peru could drop by as much as 50%-70%, according to forecasts.
Spot prices for Brazil nuts reached $4.20/lb FOB (free on board) this week, with some suppliers trading organic nuts at prices 20% higher than last year due to tight supplies.
Bolivia’s Brazil nuts yields have been hit by adverse weather as a result of climate change, according to Liberation Foods, which imports Fairtrade Brazil nuts to the UK.
Local gatherers have predicted a poor Brazil nut crop since January 2016, when they noticed flowers had dropped from trees before their usual pollination time. The situation was compounded by a lack of rainfall in November, which is a “critical time” for the crop.
The 2018 harvest is also “looking bleak” because unusually high winds in the region have blown flowers from trees, the supplier warns.
A Bolivia government representative has committed to develop solutions to the climate change problems affecting the sector, Liberation says. “We are in everyday contact with our partner co-operatives both to secure volume to sustain sales and to better understand and help to manage the challenges,” says MD Kate Gaskell.
The shortages come amid strong demand for Brazil nuts in the UK. “Our sales of Fairtrade nuts increased by around 20% last year - with Brazil nuts increasingly recognised for their great nutrient content,” Gaskell adds.
No comments yet