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Walnuts: key player India

March 5, 2024 at 12:16 PM , Der AUDITOR
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FOLSOM/SANTIAGO. India is a key player for both US and Chilean walnuts. Forecasts for the 2024/2025 walnut crop are difficult to make in Chile.

Surge in US shipments to India

Total US walnut shipments stand 25% higher than last year for September 2023 to January 2024. Domestic shipments surged by 24% and shipments to Turkey by 44%. Shipments to Italy are also 61% up on last year. The most noted increase of 76% was witnessed in shipments to India. The season reportedly started off well with good quality walnuts but low prices.

US walnut shipments, inshell and shelled (in 1,000 pounds)

Destination

2022/23

2023/24

Diff.

USA

105,420

130,867

24.1%

Turkey

55,774

80,446

44.2%

Italy

24,620

39,595

60.8%

Germany

27,470

36,995

34.7%

Spain

18,715

24,971

33.4%

UAE

33,619

23,328

69.4%

India

6,258

17,265

175.9%

Korea

12,072

17,193

42.4%

Japan

10,137

10,957

8.1%

Netherlands

8,830

9,882

11.9%

UK

5,055

8,602

70.2%

Others

66,572

67,880

2.0%

Total

374,542

467,981

24.9%

California Walnut Board, 01/09-31/01

India to remain key market for Chile

These low prices present quite a challenge for Chile this season as local media report. Although shipments are good, prices are historically low. Monthly shipments were rather weak in January and declined by 28% to 1,357 mt for inshell shipments and by 7% to 1,829 mt for shelled walnuts. Combined inshell and shelled walnut exports have flatlined at 135,630 mt (299 million pounds) this season so far with India carrying the main load of 49,535 mt. While shipments to Turkey have slumped by 20%, Italy stepped up imports from Chile by 12%.

ChileNut hopes that shipments to India will continue to be strong in 2024/2025 and that tariffs will be reduced. Promotion campaigns are also underway in Germany despite shipments to here taking a 21% dip. Sales in Europe have, in fact, been slow. With the new season about to start on 21 March the state of the new crop is being closely monitored but forecasts are difficult at this point due to adverse weather conditions and pests and range at 160,000 mt.

Walnut exports, Chile, inshell and shelled (in mt)

Destination

2022/23

2023/24

Diff.

India

26,284

49,535

88.5%

Turkey

30,553

24,518

-19.8%

Italy

10,490

11,776

12.5%

Spain

7,757

7,814

0.7%

Morocco

7,293

5,394

-26.1%

Germany

6,192

4,870

-21.4%

Brazil

3,615

4,703

30.1%

Netherlands

6,797

3,619

-48.8%

China

3,114

2,611

-16.2%

UAE

8,534

2,185

-74.4%

Others

22,819

18,605

-18.5%

Total

133,448

135,630

1.6%

ChileNut, 21/03-31/01

 

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