Cracking on regardless
The world political canvas has changed beyond belief over recent months. For a start, we have the UK gradually making moves towards its eventual exit from the EU, and in the US we have the bizarre situation of a business entrepreneur/former reality TV star with no previous political experience now firmly ensconced in the White House. I refer of course to US president (and Twitter maestro) Donald Trump.
Okay, so what does all this have to do with the dried fruit and nut sectors, you might ask? Well, the obvious response to this is that both developments, to some degree, have implications for commodity trade flows.
For example, if we draw focus on specifics, then Trump’s tightened controls on immigration have definite ramifications for Iran, a key supplier of various dried fruits and tree nuts, of which pistachios is a key item (see pages 22-25). It now looks inevitable that trade sanctions against Iran, if anything, will become even tighter.
On a more general level it has been suggested that political risk will impact dried fruit and nut businesses through the foreign exchanges as these forward political risks play their part in the price today (see pages 30-31).
As for Brexit specifically, there is a view that this should be beneficial for UK dried fruit and nut traders as the return to a global free trade policy should present an opportunity to remove tariffs and duty on products from different countries including South and North America, China and Australia (see pages 32-33).
Of course, no industry sector is without its challenges and dried fruit and nut markets have frequently had to prove adept and adaptable.
Read the full analysis in the Dried Fruit and Nuts Report, brought to you by the experts at Foodnews.