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Bulgarian walnuts: shortage of supplies

February 7, 2017 at 9:33 PM , Starry Night Ltd.
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Take a deep breath: the price could rise fast

Walnuts: bad year in memories, better hopes for the future

SOFIA. Harvest 2016-17 was a disaster. Too heavy rainfalls in the blossoming period of the trees and unexpected frosts damaged uncompromisingly the crop. The carry-over could not support domestic demand for long, and as a result farmers turned to imports. Farmers’ hopes are for a better harvest this season.

The market as it is

After the marketable season started, big local farmers were quickly importing from Romania, Ukraine and later Poland. They re-export to maintain their international positions. Domestically, imported walnuts have been present on the market for a few months. There is obvious pressure on supply, but prices’ advance is slow, instead of shooting up. Currently, conventional light kernels, halves are traded for 7,90 EUR/kg EXW while their organic counterparts are sold for 8,80 EUR/kg EXW.

Price expectations

International buyers, as if expecting supply to grow, place smaller orders. Whether their expectations for the upcoming Chilean walnut harvest keeps them reserved will soon become apparent. Anyhow, according to local farmers good quality walnuts are more difficult to find. Buyers long-term strategies should not rest on expectations, but on real reserved and quantities supplied. Because of the lower supply, local sellers expect the prices to rise soon, by as much as 1,00 EUR from today’s prices. In the upcoming weeks, market participants expect a clearer picture of the short-term unfolding future.    

Organic walnuts, Bulgaria

Type

EUR/kg

light kernels (mix)

8,15

light halves

8,80

light quarters

7,70

light brokens

6,70

amber kernels (mix)

7,18

amber halves

7,80

amber quarters

6,70

amber brokens

6,00

walnut paste

12,45

in shell

3,80-4,30

EXW Bulgaria
   

Walnuts, Bulgaria

Type

EUR/kg

light kernels (mix)

7,33

light halves

7,90

light quarters

6,90

light brokens

6,20

amber kernels (mix)

4,90

amber halves

4,90

amber quarters

4,90

amber brokens

4,90

walnut paste

11,80

in shell

1,95-2,20

EXW Bulgaria
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