Nuts

Walnuts: shift in export demand

June 15, 2020 2:42 PM, Der AUDITOR
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SACRAMENTO/SANTIAGO. The prospect of a US crop of 650,000-655,000 metric tonnes in 2020/2021 is prompting some traders to let go of their supplies before the storage of their goods...

... will become even more expensive due to the special requirements in the summer months (cold storage). In the European spot market, prices are relatively stable. Chandler walnuts, LHP 80% range at a level of EUR 6.65 per kg FCA Spain. Chilean walnuts are currently no serious competition for the Californian market. According to reports, the colour does not meet the usual quality standard and the low price level of US walnuts is more attractive for most buyers.

The US government's programmes, through which dried fruits and nuts are currently regularly purchased, still offer some walnut traders an opportunity to sell some of their stocks. However, almonds are currently a tough competitor in the nut sector.

Walnuts, USA

Type

EUR/kg

Chandler, LHP 80%, USA

6.65

Chandler, LHP 40%, USA

6.35

Chandler, LHP 30%, USA

6.15

Chandler, LHP 20%, USA

6.15

Light Pieces, China, USA

4.00

Serr, in-shell, 30+, Chile

2.70

FCA Spain

Monthly exports at last year's level

Since the start of the season, 286,480 metric tonnes of US walnuts with and without shell have been delivered both domestically and overseas, 11% less than this time last year. While domestic consumption has decreased by 6% to 74,929 metric tonnes, export demand is down 12% to 211,551 metric tonnes. May exports were surprisingly stable at almost 9,100 metric tonnes, while domestic demand (6,441 metric tonnes) was around 20% lower than in May 2019.

Countries such as Italy (+2.495% to 118 mt), Spain (+68% to 1,187 mt) and Turkey (+725% to 803 mt) have significantly increased the import volume compared to the same month of last year, while shipments to Germany (-39% to 1,453 mt) and the Netherlands (-61% to 350 mt) have decreased significantly. Deliveries to China and India were also negligible last month, although these two countries imported significantly larger quantities from Chile.

US walnut shipments in mt

Destination

2018/19

2019/20

Diff.

Europe

78,272

83,804

7%

Asia/Oceania

50,313

46,398

-8%

Africa/Middle East

102,619

72,753

-29%

Central and South America

99

320

222%

North America

86,662

81,529

-6%

Others

2,279

1,676

-26%

Total

320,244

286,480

-11%

California Walnuts; since the start of the season

China and India buy in Chile

According to ChileNut, in the first two and a half months of the 2020/2021 season, a total of 24,664 metric tonnes of walnuts with and without shell were shipped overseas, around 40% less than in the same period last year. While shipments to countries like Spain (-39% to 1,213 mt), Turkey (-58% to 5,151 mt) and the United Arab Emirates (-90% to 1.167 mt) decreased, other markets increased imports compared to last year, including Germany (+91% to 1,309 mt), China (+233% to 2,126 mt) and India (+98% to 2,011 mt).

Walnut exports, Chile, in mt

Destination

2019

2020

Diff.

Africa/Middle East

27,199

9,848

-64%

Europe

8,221

7,274

-12%

Asia/Oceania

3,805

6,791

78%

America

1,110

752

-32%

Total

40,335

24,664

-39%

ChileNut / (21 March to 31 May)

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