Walnuts: exports increase by 38%
July 14, 2020 at 4:03 PM ,
Der AUDITOR
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 |
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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.
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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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