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Walnuts: exports increase by 38%

July 14, 2020 4:03 PM, Der AUDITOR
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SACRAMENTO. US walnut exports in June increased significantly compared to the same month last year. Meanwhile, the new crop from Chile is available on the European market at attractive prices.

World crop of 2.27 million metric tonnes expected

Although experts in China, Ukraine and Turkey expect a decline in production for the coming crop, according to the INC data, around 2.27 million metric tonnes of in-shell walnuts will be harvested worldwide in the 2020/2021 season. Among other things, the US crop is expected to increase by 10% to almost 650,000 metric tonnes, but market players do not rule out deficiencies in quality. In Romania the production potential amounts to 36,500 metric tonnes and the Chilean crop has already achieved a solid result this year. This should put prices under pressure.

Top 11 walnut growing countries, in mt

Country

2019/20

2020/21

Diff.

China

1,000,000

950,000

-5.0%

USA

590,332

648,637

9.9%

Chile

130,000

140,000

7.7%

Ukraine

117,300

115,000

-2.0%

France

37,000

37,000

0.0%

Romania

34,600

36,500

5.5%

Turkey

35,000

31,000

-11.4%

Iran

25,000

30,000

20.0%

Italy

16,500

19,800

20.0%

Moldova

23,300

18,000

-22.7%

Hungary

11,200

11,700

4.5%

INC Webinar June 2020

Monthly exports increase significantly

Since the start of the season, 302,823 metric tonnes of US walnuts with and without shells have been delivered both domestically and overseas, 9% less than this time last year. While domestic consumption has decreased by 4% to 82,513 metric tonnes, export demand is down 11% to 220,310 metric tonnes. June exports were surprisingly positive at just under 8,500 metric tonnes (+38%) and domestic demand was also 9% higher than last year (June 2020: 7,400 metric tonnes). Germany (+553% to 1,620 mt), Great Britain (+105% to 753 mt) and Turkey (+150% to 557 mt) significantly increased the import volume compared to the same month last year, while shipments to Spain were halved to 381 metric tonnes.

Prices on the spot market

US Chandler walnuts, LHP 40% are traded on the European spot market at prices of EUR 6.40 per kg DDP Germany, while in-shell jumbos are available from EUR 2.15 per kg DDP. The offers for Chilean walnuts from the new crop can easily keep up with this. Chilean Chandlers, 30+ are currently at EUR 2.95 per kg DDP Germany and Extra Light + 40% Light Halves range at EUR 6,25 per kg DDP.

Walnut prices

Type, origin

EUR/kg

Chandler, LHP 40%, USA, 2019 crop

6.40

Jumbo, in-shell, USA, 2019 crop

2.15

LHP 40%, Chile, 2020 crop

6.25

Chandler, in-shell, 30+, Chile, 2020 crop

2.95

LHP 40%, Romania, 2019 crop

4.50

Organic, LHP 40%, Romania, 2019 crop

4.90

DDP Germany

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