JANUARY SHIPMENTS: The January 2022 Walnut shipments were +53,516 tons in 2022 versus 63,004 tons in January 2021 on an inshell equivalent, for a decrease of -15.1 per cent
SEASON TO DATE SHIPMENTS: The industry has shipped a total of 311,552 tons for the 2021 crop, compared to 394,919 tons at this point for the 2020 crop. This is a decrease of -21.12%.
CROP: Final crop receipts for 2021/2022 crop is 720,163 tons, which is an 8.3% reduction from the 2020/2021 crop of 785,000 tons. The NASS estimate for the 2021 walnut crop was 680,000 tons, which ended up being off by over 5%.
DOMESTIC/ USA: January 2022 shipments versus 2021 shipments on an inshell equivalent were down -6%
EXPORT: January 2022 shipments versus 20201 shipments on an inshell equivalent were down -19.1%
Key Markets-January 2022 vs January 2021
Turkey: inshell down -41.28%
UAE: inshell down -55.79%
Japan: kernels up 7.69%
Middle East/Africa: inshell down -46.14%
Germany: kernels up 27.02%
Europe: kernels up 4.02%
Total: Export Inshell down -44.22%, Export kernels down -7.78%
MARKET/ PRICING: The January shipment report was a mixture of good and bad for California suppliers. January shipments were slightly improved from December. However, the crop size was over 5% larger than the NASS estimate. The European kernel market was especially strong, and inshell shipments continue to lag. We can only speak for what we see at Summit, but the lower prices caused a significant increase in demand for the second half of January, especially for inshell to Middle East markets. Smart buyers recognise that prices were getting close to last year, and Chile will surely open with significantly higher levels. As a result, buying good quality from premium brands is an easy decision. Sales continue to be strong into February. It is also important to note that a good portion of the chandler crop is damaged from the late October storm; premium light quality will become harder to find as the year progresses. Most of the remaining 408,611 unshipped lbs. will be non-chandler light and combo material. If you have demand for premium light material, we suggest not waiting much longer before covering your needs.
Shipping continues to be a challenge. There are currently over 70 vessels waiting offshore in Southern California. Please plan your shipments are rolling at least once, most likely two times before shipping.
Source: www.SummitTreeNuts.com
Contact: Dale Darling
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