USA Walnut Market Harvest Comes With the Best Quality in 10+Years

USA Walnut Market: Harvest Comes With the Best Quality in 10+Years

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Outlook of USA Walnut Market: California is in the middle of Chandler almond harvest, and reports are that quality is the best in 10+ years. Chandler Color is extremely light and white with many 100 count trays in the 96-98% light range! NASS released an amended acreage report that showed additional acreage that was pulled out since the previous report. This caused the crop to drop from 780,000 tons to 760,000 tons. The decrease in acreage is a direct result of record low prices the past 4 years, reports Summit Premium Tree Nuts.

Buyers have gotten used to record low prices the past few years. And strong kernel shipments towards the end of 2022 crop shows that the low prices for poor quality works in Europe and USA markets. Question is will buyers pay slightly higher prices for extremely good quality?

Are prices sustainable?

California suppliers are attempting to keep prices at least at the breakeven point for growers. They may have some early success, especially with the excellent quality of this year’s crop. Time will tell if prices will stick over time with China being aggressive, especially to inshell markets. One thing is for certain, the prices for the last 2 years are not sustainable, they were well under the price of growing, and even at today’s levels prices are still cheap for the growers. The Strong US Dollar is not assisting us either.

September shipments: The September 2023 Walnut shipments were +35,694 tons in 2023 versus 30,906 tons in September 2022 on an inshell equivalent, for an increase of 13.5%

DOMESTIC/ USA EXPORT
September 2023 shipments versus 2022 shipments on an inshell equivalent are up +21.3% September 2023 shipments versus 2022 shipments on an inshell equivalent were down -11.4%. Delayed harvest is a part of the decrease.

Key Markets-Shipments to date

Türkiye: inshell down -47.79%

UAE: inshell- no shipments in September

Mintec Global

Germany: kernels up 131.25%

Middle East/Africa: inshell down 56.66%

Europe: kernels up 86.23%

Crop estimate: The NASS estimate for the 2023 CROP is now 760,000 tons after the decreased in acreage.

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The following reports may be of interest to you:

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Groundnut Crop Set for Growth in Banaskantha (India): What to Expect?
Heatwave in California Accelerates Almond Harvest, Raising Concerns Over Quality
Turkish Hazelnut Market: Price Adjustments, Reluctant Suppliers
Cashew Market Faces Uncertainty: Stable Prices but Potential for Volatility Ahead


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