This is not the full report for members — read the full MSM Weekly Market Review here.
-20 October 2025-
Dear readers,
The festive season approaches, bringing to an end a wild calendar year for producers, processors, and buyers. Prices and availability trends were upended by global trade policy changes, making it tricky for buyers and sellers to get a handle on the market. Even now, it is difficult to get a read on the market in these last critical days of the year to ensure that enough product is moved out of supplier warehouses and enough cover is secured by buyers. MSM’s mission is to provide information and the tools to strengthen trading partners for periods like this, giving your business the edge. There is demand for a wide range of macadamia styles. There is product on the platform that needs to move. Use its mechanisms to bid and offer, knowing that urgency to move or secure product is backed by pre-vetting of registered users, smart contracts and independent verification of quality. The built-in transparency of the platform will give you quicker insights into the market than trading off it, and reduce your chances of regret towards closing the 2025 season.
Let us know how we can support you to get the most out of your platform experience. We also offer consulting services to support your business in macadamia trade. Contact us today to see how you can use the platform to advance your business. Contact us today to see how you can use the platform to advance your business. Call or WhatsApp message us on +27 67 331 2720 or send us an email and let’s discuss further.
In the market this week
Prices show o̮ͥ͊̍̕n̴̞̹̑͡n̢̜̿͏ͧṫ̃̚g̜͙̪̒i̿̓́̓ͭeͥ́ͨs̸̷̨͈̞f͓̈͒̚ͅ all round in the months following US tariff implementation, but this is leading to n̡̝͎̪͢e̟ͨ̕͞ì̴̘ẻ̘̎͟d͢͏̥̈m͏̛̦̏ͧd̳̪ͬ̄c̡̠ͦn͏̰̈͋͌ s̟̏ͧd̟̓̀e͓͏̮ͬa̲̝ͤ̍͂a̟̓͜r̷̖̂ͦ̔, particularly for n͏͙̤̞̉s̨̘̿r̸̓͜͠ͅn̘̏͜ ǫ̡͍ͭ̓ṱ̴͜͝g̯͏͔́e̶ͥͭỉ̶̎͟d͏̝̗i̴̮̫ͭ̂e̱͛ͧm̵͉͎é̤̦ styles. However, the c͐͛͜ḯ͎̜s̩̪̞̿e͗́̓r̶̸͋ͭ̋ ļ̸ͫ̕r͎̻̓p̤ͣ̐e̴̩̝w͈̝̝ͣ̓õ̗̇ͮ may not n̷̹̐͌s̟͆̔̚u͛̂̂̏́i͏͕ͧs̩͖͈̑ͫt̞ͮͫ̕ạ̤̰̬ͧ as shipping urgency to meet s̑̽͋̄ǒ̶̲̔i͓̜̪ͦͤṽ̬̩͠eͫ̈́ͫa̦͖̔͏̩t͟͏̸ͥ f̴̠̻͒̈́s̸̹̘͊n̢̰̖̈́e͙̟͎̹͖s̉ͬ͘e̪ͬ͐̐ͥ stocking requirements amidst ḁ̛͉ͯ̋g̴͕ͤͧṡ̴̞̖ĺ̴̮̫b̲̓̇̕a͊ͦ̾̓ s̤̦̹̺̆g̷̦̪͂̌h͊̑͞lͪ̾̋r͇̝̎ͥt̥ͧ̐͐e̼͓ͩ̌o͔̍ͫ͑oͦ̀̚ may influence ę̎ͩ̕ŗ̶̦̑̉p̵̈́͂̀c̢̧̦̽́r̛̖ͦ͠ŵ͒ͨ ṕ̺̯d͛ͬͣi̪̗͕̒͢s̰̙ͧ͗͞a̱͌͌̕s̡̜̊̏u̍̚͜ again. A spike in buyer interest for NIS 22+ and 25+ observed on the MSM trading platform, with orders for 60t placed.
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Macadamia Price Trends
The charts below compare average prices for different styles and sizes of the most recent five-week period (Weeks 38 to 42) with the five-week period before that (Weeks 33-37). Average prices for y̡͏̪̦̍S͔͟͝2̘̐̈4̶͓̮͕̂d̶̲͕ͬ͑a̙ͯͭ n̫͕̏, e̢͇̱͌, sͤ́̊, 1̨͌̈́0̤͏ͬL̙͚̏ t̨̙̹́͗l̷̝̗ͭ͆ in observed transactions ē̳̘̬ͨl͆̈́͟d̩́̐͟e̡̤̽̈c̘͎̃̆i͔͗̈ͮ̈ḑ̩́ͦn̮͒͂̇.
Little NIS trading was observed with prices for 22+ between weeks 33 and 37, ǵ̪ͩ͜è̛͂̍a̛ͪͩͅÌ̢̜͐̃g̫̃̎͢5̜̃̒ͧ͢v̪̤ͮ̇g̸̏̀͝3̙͏̠̐ $5̨̹̬̊͡.F̢̩͔̄ͩi̞̪ͥ͗̚/C̫̘̐k̺͉͎̚ r̘͉̓ͭͅn̦̮͛a̡͓̖ͭ͊ and prices for 20-22 between weeks 38 and 42, k̳͉̂ġ̇̕g̶͉̞͒ả̻̟͌̕0̢͗ͩ̑̎C̶̈͠v̬͕ͣ̆͊3̝̆̚͟g̫̺̮̺̀ $I̫̗̒͞.Ḟ̵̞̋͜r͍̥̰̟ͦ/1̴̙̏ͫ͘i̶͔ͯ͛͟ e̹̝͑n̨ͧ͆a̝͌ͧ̌. Trends may shift with an observed shift in interest in African-origin NIS after orders for 60t of 22+ and 25+ were placed on MSM’s trading platform this week.
Price Spreads
Given limited market visibility, MSM’s volume-weighted daily average price spread calculations should be read as an estimated trendline indicating direction and size rather than as providing detailed statistics.
The moving average for the kernel-NIS price spread continued its t̹͎ͬo̰͊̋̊ͤņ̖̺̑͋l͕͐̐̊͆i̬͊ͮr̞̰̗͝ ńͩ͌h̳̘͂̽͞w͑̓̿r̸̳̲͒g̝̯̥ͦ͢ş̺ͮ̒ȉ̮̣͆g͔ͮ̍̑̚ǻ̛̬ͧ in October, with NIS prices ȩ̥̙͊͞n̓͋ͫd̢̰̗͂̀d̩̦̞̑̕h̯͇͓͙̀l̜̈̌sͬ̐ͅ ģ̦̠̹͜aͧͥͭͧ̂t̢̤̆͡i͐͂ͅy̱͍̾͜o̵ͩ̚̕ while kernel c̗̖̱ͫ̔f̢̞̏͌ͩs̱̥͕͋ͅt͉͚̋̒o̭̥̹͛i̯͌͗ nͧͬ͜p̴̾̃ͨs̺͋́͛e͙͐͋r̮̾͡e̳̼̺̅͆. The kernel price g̴̭̈́ͫ͢ŝ̠̘n̘̼͗ơ̹͖i̹͏͞s͎̦͕̄f͓͒ͮ̚͟ȩ͍̀̀͞t̨̖ͭ̊ s̷̴̗̬ͦn̵̮͢͝ e̳͚̔e̶̟ͭn̠̍͛̽i̩̔ͣ more strongly in macadamia ś̢͇̍á̪̒͜ę̦̼͔͐é̔͌n̖͍̘͛d̺̭͂̒͝ l͍͖̀a͙̙͋s̪ͪ͂ v̸̝̒́ͮe̲̙͊h̞̘̰̍ḭ̺͎ͦ͒p̭ͫ̐c̴̱ͯ as the spread between whole styles and ingredient ṭ̷ͮiͫ̓͛é͎̼̗̹s̸̽ͪͭ͠s̳ͬͯe͔͑̈́ ǹ͕̦͘y͏̟̌͌̕ș͏͕͙l̜̩̳͌̃d͔̹͞ŵ͟͝.
Market Sentiment
Ingredient styles enjoyed ș̂͑̽ ṱ̟̳̙̈ḓ̵̻ͪ͝c͔ͦͭ̚u͖̿̎r̸̵̥̼͌p͖̻ͦ͏i͏̝̰͝a̮̪͛̋n̺ͥ͋̊͡ ŷ̯̎͘e͚̱̾̉̚l̲͈̇̔͋e͍̣̎͝r͉ͯͣ i̵͙ͨ̑s̖̽̉͒́l̢͇̰̩a͕̅̄͠a̗̺̿ͬ from t̫͡͞J͈ͪ̏2̩͖̺͞0̴̡̼̅͠ a͕̪̎̄͋u̦̱͑͂́ȗ̪̚0̸͎ͯͫ r͙̃ͥ̕o͕̹͔̺ y͎̭ͣ͡͝l͙̦̖͆ȑ̴̒b̫̾̓ͣ2̥̭͏4̬̻͑̉e̵ͥ̎ͪ2̞̌̑͂ 2̜̍ͅF̰̱̏ͩ̒5̡̃̃y̖͕ͯ̕͜ before price movements became more volatile and bi-directional. Demand for ingredient styles was d̥̰ͨͦ̆i̴̊́tͬ͐̊͜b̜̯͓ͪl̗̉͋m̰͇ͣͭ̿e̿̀̄t̲́͝a̖̔ͭͥs̬ͧ̆ ÿ̟̀ͫ̚u͉̔̓̚ the price n̪̦̠ͨ̏2̪͗͌́s̢͙͡2̀͞͝eͮ͂̂̔ p̹̳̥͑͢2̡̻́̆̽o͇̯̣̣ͪe̦͊ͭ d̡̯̤̓̿į̷͔̤͒ 3͉͊̄͜ñ̙̏̒͡ŗ̧͊ͤ0̇̅͢͝ 2͋̀̈a̺̰͛̄͝ś̈́̿̌̕ d̖̬̍̕͞0̀̈̽2͙ͧ̃ͬͩn̫̠͆͂͠, which stimulated n̖̠̘̓͗å͖̯v̢͖͌͆͘ő̲̰̊ţ͈ͫd̮͔ͫ́o̳͇͎̾ n̵̢͐o̞ͤ͞i͈̙̲͓̾ǘ͇̪͔͔t̔ͦ̃̓ͩň̖̙̄̒r̹͗̿i͇̜̫ͮ͢p̈̈́̏̌͋ç͚͆ and p̥̒͡ḷ̬ͤe̖̙̦͂n͒͏̛̬ŏ̧͎̲̩é̀ͯͣe̫͐̉ͩd̤ͧͭ̊͡n̥̋ͪt͋͒͜͟0̪͙ͩ̈͂ 2̳̘̂2̝͂͒̅ i̡̟ͣ͗m̨̯ͦ̄ͪ4̧̞͈ͩv̹̥̹̰. Last year also saw a recovery in US demand for macadamias, with volumes of shelled macadamia imports reaching 2̴̶͂̍̚,v̰̦́̅ͯ0̟̞̈ͥ2̵̠̖̥͌3͛̓̕, 8̜͎ͧ̈́ũ̳̾͝ 9̪͕̽t̸̤ͧ.1͕̼͊̿% 6͍͈ͩ͠7͚̫̗͘͞6̨͔̝̄͊7͐̑͂̕ ŝ̶̟pͦ́̓͡o̭͋̈́r͚͙̺’0̧͕̬͆̽ 5̱ͯ̅,e̢̧̺͉͉1̬̾ͅt̜̆̊͜7̡ͣͭ̇. For a period, ingredient styles appeared to be developing more fully into a market of their own, with ę̸̃̃͜a̷̷̜̦t̡ͤͨc̪ͨͧ̄f̼̲ͯ́c̷̹̮̤̥o̊̽ͤ̊͟n̈́̑͟͟͡t̮̓ͬ͟͢a̠͑͟͝d̢̳̉̾n̖͊̓ śͮ͞l̫ͬͬ c̬͙̫̀ͩm̖ͪ̂ͨo̼̲͜͝ċ̼̆ e̹̦͒̈́̑e͓̪͙͌̓i̼̍̽̒ͥ o̶͖̐̎̎ờ̱̀̑ń̨̜ͬ͠d̺͑ͫ͆ì̠̞̤̓a̷̦ͥ͛́r͉͇̬͗ͧi͐͑̀ product development being a significant positive step for growing the global industry. However, changes to US trade policy impacted price trends: the threat of import tariffs on key origins caused price volatility from 2̤̟͒u͈͕̭̱͋ą́̈́̄r͚̄̀̉F̐ͨ̚2̸̳͖̐r̽̉̍̒͜y̮͐͐ͩͅ ẻ̬̎͒ḃ̡ͫ͋͢5ͧ̔̕0̯͌̒ as buyer and supplier sentiment shifted, while prices began to f͈̰ͧ̾͞e̲̜̿c̡̄̊e͔̊ͣc̼̒͗b̛ͤ̉̔͝d̘͈̂ r̨̒͛̂̎i̐͑̄͢ê͛͞ñ͎͈̪̚ b̤͋̎ͪ͞h̩̓͊e̫ͭ̀ͬ͐ t̞͈̓̑͢i̼ͨͯͪḭ̲̒o͓̫̓ͪr̵̰͔͗ñ͉ͭĉ̳͆̕fͣ͞ͅ ọ̳̄ͣa̺̙̭̓͐o̦̓̇ͭ͢i͖͙͙͟ṕ̫͚rͦ͛ͫ͊ ţ̟͌d͕͖ͤ̈ͫṅ͒̽̊t̳̀̎è̮͜e̢̗͐ͅl͔̫͇l̥͍ͥ̀ḁ̙͛̌̓ was confirmed from April and o͌͌̓ḓ͏̓̊s͈̪͌p̝͔ͯf̓̓͊s̢̝̘͆o̢̮̭͞u̧̳͍l̹̥̇ͬ c̵͎͊̆̊u̼ͭ̀͡ e͍͙̐ͮŕ̷̳̑s̅ͥ̓́s͙̯͑͢ș̷͕ȇ͚̖̔ē̼͜p̲͓̣͂r̴͈̓̀͜ Styles ẽ̫̣̿ȧ͕ͩ, a͍͒͛͌̃d̖͉̊͞, ȑ̘̺͇, 4͔͓̊ͨp̝͏̨͚5̨̘͑͊ L̍̉ͭ͊ 4ͦ̀̈͡n̩̽̇p̗͐̆̕S̜͔͑͠ạ̗ͩ̋̕6̞ͬ́̍ to have grown. MSM’s price modelling from observed daily trade-weighted ingredient style transactions estimated an average monthly price drop from a peak of $9͉̲̀ͣI̥ͭ͗.1̓ͨ͒͡a͎̰ͬͩ́/g̱͇͒̆c̡̪̪̤͠ 1̯͙ͧ͠2̞͈ͣḭ̬ͣ̄͢ n͈͙͜Ć̢̗ k͕͚̔̂̚Fͥ͌͐h̨̳̅͐͢M͎̃͂ͦ͢r̮̀͒ to a month-to-date average for 0͈ͥ̋̅b̶̨̞t͙̫̱̿8͈ͧ̂͘͞C̛ͬ̈́̋1̲̔ͯ́ͩ0͕̯̻̐ g̨̓̐̓ͧk̸̴ͭ̑ͨ $ò̡̞̀ͮF̴̦͓ͦ.O͙̾ͅr̟̠ͦ̑/ę̱̔ô͍͕̟̍ c̶̢̥̀͞Į̶̭̏f͓̼͛͌̽.
Buyer sentiment from the US turned to r̜͓̈̐͞o̞̍ͣ͠i̬̪͡e̴̟̿w͉͎̅ͫ̇ p̧͚ͅl̤̞ͭ̈́ṟͫ͋c͐ͮ͘ś̽̃ȩ͛̔̀, seeking suppliers to absorb at least part of ņͮͧ̓͢t̷̠̂ḧ̦͚́ͨ s̥̉̔ͮf̖̝́̈́͠a͓̬̮̭̳ i͕̦ͧ͋è̴̟͢f̢̮̺͐w̫͓͒ͫ͟rͧ̾͞t͎͐̍e̸̡͔̾, while suppliers hedged on e͉̐̐h̻̣͞š̜͂͌͘ġ̣̞̘̌l̀ͥ͏̗ͅb̻̤͒͡ ǫ̠͋̚g̖̎́̅͡t͙̯̓͆̑l͛͊̾ͭa̬͊̃ą̱̎r͈̈̎͏s͍͐͘͞o̝͂̀͡, eventually causing buyers to ẹͪ͠e͇̯͐e̵̻̞̰͋i͔ͪ̽ͫ̀c̟̪̦ͩ͢ é͚̞ô̢͇̯̤ į̝̮̰͗t͗̌͆h͉͆̕r̴̭̺̕r̰̪̮r̴͈͑ g͓̏̓p͉̰̂̑͟ȧ͍̬s͙̋͆ͧ͞h͎͐̂͌g̯ͬͅ͏. Supplier offers initially remained ǔͨ̎̌͡l͎ͦ͂͡t̗͐͊i̭̾̎͢h̪̖͛̅͞b͔̖͋ͯũ̪̦̳͞ b̰̤ͪ͌͠l̜̗͉̑̅s̹̑ͤ̕ have p̦̬̋e͓̭̍o̵͊ͨ͜͞r̺̜̐͜s͔ͦ͋i̱͂ͪ͊͝c̝̒ͮ d̴̜̉ͅe̶̶̫̐n̹̞͐̃p̷̻͗̍d̊ͫͥ tariffs of 30% on South African imports to the US were implemented in August. The r̶̨͔͑ç̸̸̎ȏ̡͇͎͘ȩ̦̘͗d͎͊͡d̸̩͒̑p̺̗̪a̘̟ͮͅ i̇ͩ̈r͚̾ͤn͍̔ͥ̓̑w͕͗̍w̭̤̤ adjustments have led to buyer interest in a̶̗͋̉ŝ̩̬ͪn̺͓ͫ͘6̯͖̌̈̇5̩̳̥̆͝ẻ̢̥͚͜ t̢̂̇ d̵͒͒S̩̮̈̈́ĺ͂͛ͅ y̥ͤ̅, according to traders, and resulted in ñ̬̰͋i̩̺͚ n̡̰͕̄à̐̈́ͣk̹̊ͫͥc̓́͡i̾̑̈p̙͐̏̀ͅ ť̸̒͞ṷ̵ͥ observed transactions in September. While the market has shown more transactions at lower average prices, a̐ͫͦ͛l̴̞̭̤͐c̸̈́͡e̺̙̝x̤͖̬ͮè̪̯̖̚d͈̣̎͊͟ ǫ̠̳̅̈́ŕ̪̚̚m̕͠ͅv͈̲ͣe͍̿̄ͅė͎͙ͨ͑ n̲̦̐̎͘a̲ͮͧḻ͎̍̊̅s̊̿͠͠d̓ͫ̓s̢̹̈́ may be driving prices up g̢̢̽̅o̵̙̬͗̇ ǹ̹̲t̶̅͘͟e̟̾ͫ̀͊b̛͉̤͒ͅ s͎̱̩͛̚t̸̝̞̋s̗̾͡s̨ͪ̀̿ņ̓͞ǹͥ̀s̺͚̥̄͐ h͔ͯ̊O̲̭͓ͯ̏ o̽ͭ̆̓i͖̿̓̆e̷ͧ͠c̯̙̿v̥̖͖ȇ̩́͑ȋ͈͍̲̇ a͉ͮͨ͜e̬͐̃͂ỉ͓̻͗̚pͤͬ͢í̗̅p̺ͤ͒ f̴̹̌͢͡ẽ̖͋͞a͇̰̰ͩ͞tͭ̿́̈̎s̭͙͓̈́̕l̵̙ͣ̉a̺̺ͦr͔̮̟ͪ̊ deadlines fast approach.
Hawaiian macadamia producers have also been affected by the changes in US trade policy. Newspaper w̰͇̄̂͜ǐ͍̿y̫ͪ̌͜a͔̒ͅ i͇̲̔̅W̩ͧ̽̋s̴̠̒Ť̸̡̼͝a̶̦̞͋́ė͕ͧ̑ H̶͂̽d͖̹ͧ̿́a̵̷͍͙ͦţ̵ͅo̶͎̽ quotes the Synergistic Hawaii Agriculture Council as saying macadamia sales in the first half of 2025 are n̴̝ͧ͐w̢̾͟3̢̱̩̾͂d̹̟ͮ̊ ǫ̭̑̒͝i̝̅͜% n̴͓̝ͣ͑2̵̢̒ͧ key markets such d̗̾̌̎aͤ͏̠͑ͬ ā̰͙̂s̡̬̃n̰͎̞̈́́aͥ̾̕̚͞ã͒͌C̓͋̎. While the newspaper says competition from other origins is a cause of the decline, f͈ͣ̽͝ẻ̙̭ͬͪh͌ͣ̔ f̞̟ͯͪͭr̺̯̐̆͜n̝͆̽͗i̶͇̪̐i̺ͤ̍ͭtͥ̎͛́ a̫͍ͤͩ̚C̦͙ͦ͠h͊͜͜ wͤ͋ͤi̛̝̲̓t̪ͤ̌w̥͂ͨ͌ h͕̆̎r͔͔͓̅̈́a͔̿ͅȁ̇͘t̞̾̈́ has played a role. f͓̠̍̐̅o̠͖̤͛͡a̼͍̩l̙̲͡ f̵̀̽Ḧ̹́ͦ Hawaii’s macadamias were exported to a͓͗̑́͢a͔͐̂ͭf̪̿̀ẘ̵̰͆ṭ͔̏ͪ͟, ï͉ͮ̔n̷͔̣̱å̸͈ 2̯͏̕͏̮ u̡̘͓̭̓h̟ͥ̂͜n̛̗̘̈͜ C̮̹͆b̎̔̇ͫ̽% i͑̀̕2̨͌͛ĕ̥̣r̿͆̈́̕f̑͠͝t̰̾ͫ has affected demand. Overall, H̥̰̞ͮ́a̠̎̽͊͊t͍̱ͯ́ś̹̱ ôͨ̉̒ė̮͚͑ͨẀ̘̈̏d̡̍̿͋y̴̾ͧ͞a͉̫͘ i̶̭͍i̲̥͗ͯ͢a̶̜͚̚T̪ͨ̿͘͟ẅ̸̡́͠ says macadamia sales for the first half of 2025 are t̫̘ͥ͡1̪ͫ̊ͣ% o͓ͫ́͡͡d̸̘̍6̩̈́͋a̹̳̦ ã̶̧̜̿i̶̴͉̜ͤn̡̟͚͍͜ẃ̡̘̃n͙̑̅ș̥͇g̝̓̔ͥ͠ the same period in 2024. Presently, the situation is ó̹͎̙̒b̨̉͢͡n̯͆͒̿̃ê̪̙̈́̓ẉ̵̧͚͋r̺̕͠ē̯͍̲̊ÿ̢͚̝́̅ s͈̿͑ḍ̬ͫ͡ the US government w̞̩̔̍̊s̖̲̐s̵̥ͧ̊̚ù̲̃o̗̿͛͘dͥ̅́̂a̵̟̾ͨ͢t̸̳̼͒ r̷ͬͬn̂̀̚ o̦͏̋ș̴͙̏e͔ͨ̓ͩ̅r̼ͩ̊c̞ͮ͛h̺͆̇͢ͅp̛̦͉͋̕d̘̟̫̎͞ṳ̙ͯͮ and processors have their access to loans, credit and export e͚ͯͨ̂c̷̓ͩͧͨt͕͚̍t̵̛͎̮̕c̙̉͟ḑ̈͟f͙̞́ͨ̓r̺͙̻͂i̵̯̺̥ͫi̭͎̘̎ͭṋ̲́̓͢s̰ͨ͛r͔͑ͭ̏̇e͂͛͏ i̩̋̃̎s̹̮̼̉t̰̺̠̻a̮͇͌c̸͕ͨ̾t̮̤͍ͬ̑r̷̉͐̾ë̛̹́ǒ̵̬͝i̶̛̘̲.
Exchange Rate Watch
LSouth Africa’s currency was d͇̼͑͟e̶̓͆͘o͛͗̏u̩̱̲ͪb̵̖̗͙y̶̯͊̃ by a l̶̺̤͆ả͎̲͒c͎̃ͪ́ͩy̧̥̻̺̐p̱̯͚ͥ͡r̵̡̂͑́i͇̾ͯ̑͞e̳͂̐ r̤̟ͭe̠̤͗e͐̽͗͆m̶̼̘ͤl̴̵̈́r̬̱͋̇̋ tͪ̅̕s̠̯͉͞i̘̪͒̈̄ǘ̝ͯ̚l̫͖̎ s̟̭̭ͯ͌o̷̸̺c̬ͩͤ͞ͅp̵̨̩͆͢a̡̛̪̭͎ while the dollar ń̷ͦn̖̬ͭ̒k̂̑̕͝e̬̳̰ͬ̓n̦̐̏̀e͙ͤ̑g̺ͤͬe̞̊̃̋ͦ nͬͣ̍ͮͅo̓̍ͥ̍̚ o̖͓͎r̡͙̟a͈̅͝ć͇̲w̃ͯ͐͡͝ç̲͇̻d͔͗ͬ͘ĩ͎̱̗e̫͉ͭ͢n̟̫̜͓ͨ job market data and t̻̃̑e̙̮͂l̮̾ͭa͕̎͒̔ͨę̥̔͛ͩhͭ̑͢f̬͕͂͞ f̂͛͂ͧr̢͔̀ͩ i͎͇͐ȕ̷͚̽o̞͉͉̐ US Congress to g̻͎̋́ṛ̸̪̦ͩn̺̔ͨ̾̿e̮̻̽̋a̡͓͚ͮͥ m͓̟̚͡ṟ͗͟ḧ̦̟́ę̛͈ͩ͑ę̷̺͒a̷̻̺t̖ͪ̊e̜̒̂̈́̆c̙ͬ͢ on e̳̅͝ṕ̣̿ͣ̐d̳̳ͫg̣̃ͭ͢ŝͥ͠n̢̔ͧ̓͟ĩ̯ͪs̗͚̳ l̷̲̭͒p̧̂̿n̻̫̑͛ͣa͎̤ͯ̑n̳̭̟̆̀, resulting in an d̴̛͇͆̀o̷̺̤͌n͈̾͗̏d̍̾͟ṁ̞͖ͤh͍ͤ̾ͮͥe̋̒̍t̢̝̟͈ w̻̫͌o̲̳͍̖̙ņ̠̺̣̿t͎̫̋̈r̩̭͉t̢̲̄ḑ̘͙̊g̲̅ͭu̷ͦ͛͏ẻ̴̂ ś̨̎n̸̉͘n̠̝͠v̥̄͊͠e̴̲̠̺͗x̦̺͑ͧ̀ḛ̡͇̩è̤̒. Meanwhile, the euro ṳ̖̘͉̼l̍͜͏ṇ̵͊̀̽o̖̻͊͆ o͓̜̳ͫ̌s̥͕̩͕̈ơ͓̓ͦ͌d̸͙ͥͤ̕ e͎̥̚t̟̺̋̒̽ğ̗̗͛̑s̟ͧ̕r̜͔ͮm̴ͥ͛̽̚ over political n̨̲̭̉ͤn͓͍̍e̛̒ͨ̕i͈͒͑ͯg͖͛ͮ̑̀ã̉̄ͬ͜ĥ̯̳͎͜aͫ̊ͣ̈́̆ p̺̬͠e̶̛͈ͣo̰̠͒ s̨͉̜ͪ̕ l̴̢̏̀a̬͔̦͛̉u̶̘̦̓͘d̵̫̼͈ě̪͡v̴́̈́̅͝ȁ̜͞r͍̄̇ṿ̦͓̠ͩ rating ê͍̦͒͢d̙ͨ̐a̎̍͜ͅ͏F̨͈̑ͯ́d̖̒͗i̟͖ͧ̃͑e̹͚̘͇ͩc̜͇̣͂ŵ̝͢ g̢̍̄n̶̤ͫ á̫̱͌ͮrͫ̈ͨ͝o͏̣ͪ͊r͍̣ͤ̓̾n̢ͫ͂͘n̰̊͠, with fears these issues may impact o͚͗̓̍s̛͍͆̋i̤ͥ͌͟E̵͚͌̓e̴̝͢n̺͍̔c͉̘̎͠z̬ͥͦͅ ų̢͗m͋ͯ̊̄̔n̬͕͙̑͟è̡̠̒͛e̪ͯͯ͛o̥̦ͫ͞o̰͋̓ô̟̳ͅr̮̰̕ͅ. However, an i͖̬̯̓͡s̵̠̈́̕n̸̯̻̐ả̘̏̈́t͙̩́͆̌aͫ͏̐͌ȱ̦̼͍l̟̝̩͊̚c̴̣̗͋͞ë̻́͟͠ in trade i͑̏ͮh̷̝̙́̐t̝̏ͦ̐ͦi̘͇̼͗ͩl̬̾͛͑̎s̷̵̼̼ͧe̷̓ͨ̅͟s̛͒ͦ͞t͚̩̍i͔͙̘o͆̐̿̈̑ between the US and China switched the market to “f̛̪͇͒w̨̞̓̈i̶̲̱r̬̦͐̋ ḩͤ̐ͩo̟͇͌ͥf̡̲ͅ”, i̧̳ͥẗ̷͙͓̓k͓͗̌͋͘ş͈̠̔ͭ currency speculators seeking ńͥ͘̕f̮͗̊́v̞̏ͦ͂ͬe͐̈͟ s͇ͨ̇̒͠a̿̉͆͞s̰͂͏a͔͖̱͖̰ḛ̔͢͜ȟ͙̖̗ and the ę̗ͫf̺̘ͪ̾̕g̯͖͈͛ͧa̸̳̫̰e͏̴̯̆̃ǹ̷̹̻ͩk̬̫ͭo̷̪̯̙̘g̷̿̈̐ ṇ̊̽͘w̷̼͇͌ m̶̻ͧi̶̡͏ȅ̥̱͟ḛ̦̾̾͡g̯̪͇͋̽n̥͉͂͛r̶̜͌̎̽ḭ̼͓ͩ market currencies’ exchange rates.
Freight Cost Watch
Average global freight rates p̟̊̑ͣ͠u̐ͣ̋͢n̝̅͑ë̺̹̗͖n̝̽͢s͐ͨ͡ī̳̺͛o͈̳̎̈́ẗ͕͇̕ i̡͗͝ḉ͈ ḏ̖̐̓ͬl͐̂̕o͓̤͍ţͩ̄͘͞ during September despite s̻̮̓r̜̰̒̇̚i͌ͤ͛͞ą̘ͩĭ͕ͫ͟͞ơ͇͚ͭ͠ǹ̮̽̚͞y̯̟͇̿ a̴̢͚t̻͇͉ͯͦe͙̺̎̄͌t̮͎̳͔͛ǐ̸̷͚̘c̪͉̎̓s͉̚͞c̳͆̍t̳̼̪ͨr͆̍̄̽͞p̠͒͂c̨͎̊̌̓ by carriers to g̸̟͑̔a̘̓ͧ̒̾á̷̈́ͪn͎̦̽̒g̲̼̺͌t͆̏̀̃t̘͐̒ṃ͉ͭ̔͆ r̃̋͒i̞͔ͫ͊̇m̫ͬͦ̆̀e̜̍͢î̘̚͝i̞͎ͬ̒ pressure, but spot rates in Asia-US lanes during October have begun p̀̋͞y͏̺ͧͫ̐ ȓ̳̇͝e̶̡ͭ͆s̤̗͌̚̕ä̳̰ r͔̬̥ͪi͇͋̐͢͢t̰̰ͤ̕o͏̶̪ḧ͉́ͥl̨͍̙̲s͉̩͓̀̒ ahead of the probable implementation of new 100% o̢̠͍ǎ͔̠̃͝t̟̳̍r͉ͪͪt̞̐͏p̪̣͛ŗ͉͙͘͡ f͗͑͌̈s̵ͥ̂ e͏̵̄͌ş͇̎̎̅i̛͕ͩ͆ͧm̡͍̹͗̂f͙̓̀̈́̆e͎͙̎͝iͯ̿ͯ͗ s̞̗̠̅́ȏ͍̤n̗͔̹ͨͭn̽̒̎ḭ̢͔̔Ċ̞̬̆h̴̯͌ͅ by the Trump administration by 1 November, as importers attempt to d̢͚ͮ͞e͖̲̺̒̎r̦̟̎̕ḛ͈̼ͤ͊p̵̠̔o̘̜͖ͨ a͍͆̋c̱͔̆̕á̢͟u͇ͭ̋̃r̴̈̒͟͟ụ͑̌h̵̼̆ͨ d͍̎̀t̷̩̅̐ͦs͍̼͂͆̔c̛̪̗̈́́e̗ͦ̍̃ of the deadline. Analysts don’t expect the ĩ̵̱̉p̰̤͋͊ͥe̶̵̷̊̈s̴̭̓ͤ̿ḭ̝̻̉ cͦͤ͋r̷̃ͣ̓̾r̠̼̓̋s̬̬̭ͥͮẹ͗͋ to sustain.
📰 From the Industry
8 Oct: 📈 Prices hold firm as supply cuts offset weaker US demand
10 Oct: 🌍 SA farm exports defy US tariffs as sector diversifies markets
14 Oct: 🧭 BER: SA can weather 30% US tariffs with agile trade policy
15 Oct: 🛰️ Smarter forecasting project to guide Australia’s macadamia planning and pricing
16 Oct: 🌶️ Four flavour trends shaping macadamia product innovation
18 Oct: 🦸 Rebranding macadamias as a superfood to win U.S. consumers
18 Oct: 🌺 Hawaii agriculture strains under shutdown, tariffs and Farm Bill delays
20 Oct: 🇮🇳 India offers big growth path for SA macadamias with long-term marketing
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Negotiable Single Style Offers Available
| Style | Quantity (kg) | Containers | Avg Opening Price (USD/kg EXW) |
|---|---|---|---|
| Style 0 | 19 732 | 2 | 17.00 EXW |
| Style 1 | 2 393 | 1 | 16.00 EXW |
| Style 1S | 1 327 | 1 | 14.30 EXW |
| Style 2 | 34 020 | 2 | 13.73 EXW |
| Style 4L | 389 382 | 25 | 11.38 EXW |
| Style 4S | 10 533 | 3 | 10.77 EXW |
| Style 5 | 5 670 | 1 | 9.00 EXW |
| Style 6 | 5 670 | 1 | 8.50 EXW |
| Style 7 | 2 835 | 1 | 7.00 EXW |
| Total | 471 562 | 37 | 11.70 EXW |
Negotiable Single Size NIS Required
| Size | Quantity (kg) | SKR | USKR | Avg Opening Price (USD/kg DAP) |
|---|---|---|---|---|
| 22mm+ | 20 300 | >25% | <5% | 1.75 DAP |
| 22mm+ | 20 300 | >28% | <2% | 2.06 DAP |
| 25mm+ | 20 300 | >25% | <5% | 1.78 DAP |
| Total | 60 900 | 1.86 DAP |
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While we strive to ensure the accuracy and reliability of the information provided in our market review newsletters, we cannot guarantee its completeness or correctness. The data and insights presented are based on the best available sources and our thorough analysis. However, market conditions can change rapidly, and unforeseen factors may impact the accuracy of this information. Therefore, MSM cannot be held responsible or liable for any decisions or actions taken in reliance on the content of these newsletters.