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Walnuts: Potential supply squeeze in the US

September 11, 2019 at 3:30 PM , Der AUDITOR
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SACRAMENTO/KIEV. According to California Walnuts, US exports rose by around 9% in 2018/2019. Chile has also recored a hike in exports and the market in Europe is eagerly waiting for the new crop to arive.

Decline in production to drive up prices in the US

The National Agricultural Statistics Service (NASS) has cut back its production estimates for the US to 570,000 mtetric tonnes (in-shell basis), which is a year-on-year decline of nearly 9%. Market players reckon that the prices for the new crop will rise considerably. A supply squeeze is very well possible considering that the US shipped a total of 614,662 metric tonnes of in-shells in 2018/2019, which is nearly 45,000 metric tonnes more than the US will produce this year. High prices may, however, also curb demand

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