Shipments
The November 2022 Walnut shipments were +79,607 tons in 2022 versus 82,992 tons in November 2021 on an inshell equivalent, for a decrease of -4.1 percent
The industry has shipped a total of 184,873 tons for the 2022 crop, compared to 192,7004 tons at this point for the 2021 crop. This is a decrease of -4%.
Crop
Crop receipts as of November 30, 2022 are 727,539 tons. We will typically receive another 5%, so the potential crop will be approximately 750,000 to 760,000 tons. The NASS estimate for the 2022 walnut crop is 720,000 tons.
DOMESTIC/ USA: November 2022 shipments versus 2021 shipments on an inshell equivalent are down -6.9%
EXPORT: November 2022 shipments versus 2021 shipments on an inshell equivalent were down -3%.
Key Markets-November 2022 vs. November 2021
Turkey: inshell down -25.40%
UAE: inshell up 177.50%
Germany: kernels up 3%
Italy: inshell down -45%
Middle East/Africa: inshell up 26.67%
Europe: kernels down -6.47%
Total: Export Inshell up 1.87%, Export kernels down 6.2%
Market pricing
November shipments were a step in the right direction, especially following poor shipments for October. Inshell to the Middle East/Africa was a pleasant surprise. Algeria is up over 2,000%, shipping 4.67 million lbs in November alone. Morocco, UAE, and India are all up massively. A conclusion can be made that all-time low inshell prices caused California Walnuts to gain the market share they lost last year to Chinese Walnuts. This is welcome news in California. Expect similar inshell shipments in the month of December as Middle East customers continue to take advantage of the low prices to fill their Ramadan demand.
Major concern QUALITY
Quality continues to be a major concern of suppliers and buyers alike. Expectations will have to be managed by buyers this coming season. For suppliers, the sale of the lower quality will be a liability as the season goes and demand for this product decreases. Summit continues to stress the importance of brands this season over price. Reputable, brand-oriented suppliers will be willing to communicate the quality of individual shipments. As more inshell is shipped, along with it a good majority of the light material this season, what will be left over is darker and less desirable. If you have light requirements, it is best to book now rather than wait for lower prices. Prices for light materials will increase as the season goes on, while prices for darker materials will go down.
Import/Export Statistics
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