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Pandemic-Related Trends Depress Nut Prices In Midst Of Bumper Crop

August 25, 2020: 12:00 AM EST
Nut prices have slumped in the past several months the coronavirus pandemic battered air travel, shuttered pubs, and nearly eliminated on-the-go snacking. A food retail consultancy found that cashew prices sank to their lowest level since Mintec's records began in 2011. In India, religious canceled festivities and weddings curbed demand for nuts used in curries.  There was less demand in Europe for almonds, hazelnuts, cashews, and Brazil nuts as fewer workers commuted to offices. Meanwhile, favorable weather led the USDA to forecast another record crop of almonds which, combined with limited demand, depressed almond prices by 41 percent. [Image Credit: © PublicDomainPictures from Pixabay]
Lizzy Burden, "Nut glut sends prices plunging", telegraph.co.uk, August 25, 2020, © Telegraph Media Group Limited
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