DECEMBER SHIPMENTS: The December 2021 Walnut shipments were +64,782 tons in 2021 versus 85,726 tons in December 2020 on an inshell equivalent, for a decrease of -24.5 percent
SEASON TO DATE SHIPMENTS: The industry has shipped a total 257,532 tons for 2021 crop, compared to 331,916 tons at this point for 2020 crop. This is a decrease of -22.5%.
CROP: Receipts recorded as of December 31, 2021 are +691,146 tons which is a 12% reduction from 2020 crop of 785,000 tons. The NASS estimate for the 2021 walnut crop is 680,000 tons. At the very least, the crop will be larger than the NASS estimate.
DOMESTIC/ USA: December 2021 shipments versus 2020 shipments on an inshell equivalent were down -11.5%
EXPORT: December 2021 shipments versus 2020 shipments on an inshell equivalent were down -28.01%
Key Markets – November 2021 vs. November2020
Turkey: inshell down -55.9%
UAE: inshell down -21.58%
Japan: kernels up 43.77%
Middle East/Africa: inshell down -55.96%
Europe: kernels up 8.69%
Total: Export Inshell down -55.59%, Export kernels down -9.71%
MARKET/ PRICING: California walnut shippers continue to see the effects of unrealistic high prices of September and October, allowing primarily inshell buyers to purchase alternative origin walnuts at much cheaper levels. Prices have recently decreased to levels that are generating more demand to all markets. The global shipping challenges will continue with 25-50% of all containers being rolled on a monthly basis, it will surely be an uphill climb for the next couple of months. Keeping competitive prices will be imperative, as Chile should begin offering next month. However, as we experienced over last summer, Chile had even more difficulty then California dealing with shortage of equipment and vessel delays. Early shipments from Chile will be severely impacted, giving California an opportunity to sell the necessary quantities. California Walnuts are wonderful value for aggressive buyers! At these new price levels we have seen a tremendous uptick in demand this past week from India and Middle East markets.
Source: www.SummitTreeNuts.com
Contact: Dale Darling
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