Brazilian Pecan Prices Find Support After Testing 2022's Lows

Brazilian pecan prices have increased by 4% MoM, recovering from a low of USD 2.83/kg. Despite normal seasonality putting downward pressure on prices during the pecan harvest, export parity pricing is proving to be a floor for prices. Price could move sideways over the short term, as surplus production needs to be exported, but prices are already at very competitive levels for exports.
During the week starting April 3, 2023, salmon prices in Turkiye fell 19% week-over-week and 38% month-over-month to a 20-week low of TRY 65/kg. Year-over-year, prices declined for the first time since at least a year, down 10% compared to the same week in 2022. The decline is more noteworthy considering that the Turkish lira has continued to weaken against the US dollar, making food imports in Turkey more expensive. This effect also boosted exports of this product, reported to have risen 72% YoY in volume during Q1 2023. Nonetheless, it seems that there was a decline in demand after Ramadan started, as consumers preferred other protein alternatives, particularly meat. Moving forward, prices could see a small boost in the upcoming weeks as a fishing ban started in April 15, set to end until September 1st. After the small increase, they are expected to move relatively flatly until autumn.