Foreword
Dear readers,
Welcome to this weekly market review. Global shifts and uncertainties continue to dominate the headlines. This can cause businesses to adopt a wait-and-see approach, but such times are also important for businesses to reposition themselves to take advantage of opportunities that may arise.
The MSM platform represents such an opportunity in the global macadamia market now. However, traders can sometimes feel apprehensive about listing product or making an offer on listed product. For example, does committing stock to listings lock the seller into the platform? Can a buyer be locked into contract just by making a bid? The platform is designed to facilitate and broaden trade in a risk-reduced way. Sellers are free to list or remove product listings. Their stock is not “trapped” on the platform, but rather the platform provides a further, more visible way for sellers to declare what product they have available to a wider audience. Furthermore, the platform offers sellers the opportunity to see what buyers think of their product and price. Bids for product can be retracted. Newly concluded contracts have a window for due diligence during which any party can withdraw, with good reason. The platform aims to provide important signals to the market at large.
The market signalling that comes from listing and bidding is of greater benefit to the entire international industry. It enables buyers and sellers to manage their risks and respond in an informed way. Ultimately, the platform improves opportunity for buyers and sellers to get the trade that they want—and all this at lower cost and less risk than traditional buying and selling.
Log in now to the platform to see and participate in the action! If you need any assistance, call or WhatsApp message us on +2667 331 2720, or send us an email on newsletters@macsm.org
Macadamia Price Trends
The graphs below compare prices in observed transactions in the most recent five-week period of 2025 (Weeks 11 to 15) with the previous five-week period (Weeks 6 to 10). Average prices over the most recent five-week period were higher than in the previous period for Styles 0, 4L and 6, and marginally lower for Styles 1 and 2. Trends were affected by a drop in the number of observed transactions in the most recent period.
Observed in-shell prices in the last five weeks averaged $3.44/kg CIF for NIS22+ and $3.02/kg CIF for NIS20-22 (for all origins, all destinations). These prices were steady against previous periods.
Muted trade has affected the estimated kernel/NIS price spread. The growth of the 20-day moving average of the price spread has slowed since mid-March as handlers have opted to supply kernel at the expense of NIS. This has stabilised the price for shelled macadamias while pushing the price for in-shell macadamias up slightly.
Market Sentiment
All macadamia suppliers to the United States currently face ten percent tariffs. This comes after the 90-day pause on reciprocal import taxes levied against various countries with which the US suffers a trade deficit. Uncertainty around the future of global trade continues, causing many US buyers to pause orders. The “global Trump trade chill”, as Bloomberg refers to it, is leading to a more careful approach by buyers who want to assess how they are affected and to what extent. Major macadamia origins rely on the US market. When taking the first two months of the year, South Africa, Kenya, Vietnam, Australia, Guatemala, and Brazil have all seen an uptick in macadamia trade with the US when compared against the same period last year. However, this past week has been quieter in terms of observed transactions. A European nut trader described US buyers as being “extra cautious” now, holding off on big decisions.
Exchange Rate Watch
The strengthening of the Euro against the dollar should make macadamias more affordable to European buyers. The dollar has weakened in currency markets over the recent period, while the Euro has been buoyed by European countries’ commitments to increased infrastructure and military spending. As international macadamia trade is dollar-based, European traders may get more nuts for their buck if the trend remains in place.
Freight Cost Watch
The Freightos Baltic Index (FBX) is a benchmark container cost index, tracking 40ft container prices across 13 lanes around the globe. Container prices typically decline after the Lunar New Year. However, the Middle East conflict is starting to affect container prices through forcing shipping rerouting away from the Suez Canal; containers are being kept at sea for longer as a result. The CME Group reports that container price volatility is also being exacerbated by shipping disruptions in the South China Sea. Two of the most price-volatile routes are North Asia to Europe and North Asia to the US West Coast. The threat of trade tariffs by the United States is expected to cause further container price volatility and port congestion. US importers have been building inventories ahead of an expected cost escalation, causing a rise in demand for containers. However, if the trade war proceeds and strangles demand for imported goods, there may be a slump in container demand in the period ahead.
Available NOW on the MSM Trading Platform
The MSM trading platform has South African and Kenyan kernel offers available. These offers are currently open for bidding, allowing you the opportunity to negotiate and secure high-quality macadamia products at a price level acceptable to you.
We will eagerly assist you in brokering any transaction listed on the platform that might be of interest to you.
Prices Open for Negotiation
| Single Style Offers Available | |||
| Style | Quantity (kg) | Containers | Avg Opening Price per kg (USD EXW) |
| Style 1 | 199 584 | 11 | 15.14 EXW |
| Style 1S | 85 050 | 5 | 13.77 EXW |
| Style 4L | 588 546 | 36 | 11.50 EXW |
| Style 4S | 162 162 | 10 | 10.47 EXW |
| Style 5 | 39 599 | 3 | 9.18 EXW |
| Style 6 | 28 169 | 3 | 6.70 EXW |
| Total | 1 103 110 | 68 | 11.13 EXW |
| Mixed Style Offers Available | ||
| Style | Quantity (kg) | Avg Opening Price per kg (USD EXW) |
| 10.1% Style 0, 50.6% Style 4S, 10.1% Style 5, 10.1% Style 6, 10.1% Style 7, 9.2% Style 8 | 16 839.90 | 9.10 EXW |
| 2.9% Style 0, 97.1% Style 1S | 3 485.58 | 13.05 EXW |
| 39% Style 1, 61% Style 1S | 3 980.34 | 14.20 EXW |
| 51.5% Style 0, 48.5% Style 1S | 5 375.16 | 15.03 EXW |
| 7.1% Style 1S, 92.9% Style 4S | 5 465.88 | 10.64 EXW |
| 76.8% Style 5, 23.2% Style 6 | 9 514.26 | 8.66 EXW |
| Total | 44 661.12 | 11.78 EXW |
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In The News…
April 2025: [South Africa] ABSA Agri-Trends 2025: Autumn Edition.
14 April 2025: [Australia] New research reveals why the future of food includes more macadamias.
14 April 2025: [South Africa] Horticultural exports show resilience despite 2024 challenges.
13 April 2025: [Australia] Consistent wet weather has farmers worried about harvests, crops and production.
11 April 2025: [Zimbabwe] EDITORIAL COMMENT: Ray of hope for macadamia farmers.
11 April 2025: [Zimbabwe] Golden ticket for avocado, macadamia farmers.
9 April 2025: [United States] New tariffs may soon hit your favorite foods—here’s what’s at risk.
4 April 2025: [United States] “A tariff has a big impact on liquidity and may price certain products off the shelves”.
3 April 2025: [United States] Will tariffs drive food prices up even more?
What does MSM Offer You?
MSM not only provides market information through these updates, we offer solutions. We’re continuously growing and improving the tools available for every stakeholder in the industry to better position themselves in this ever-changing landscape. Click the link below to read more.
Stratamarkets
In the past we’ve shared Stratamarkets Weekly Reports in this report to increase market transparency and encourage industry players to participate in the sharing of market information. Since the beginning of July 2024 this information is only available behind a Stratamarkets paywall.
Stratamarkets offer price reports for macadamias and other nuts. Please visit their website, and we encourage you to subscribe as a member. Stratamarkets offer a variety of subscription plans and incentives for access to valuable market information.
Disclaimer:
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.