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Walnuts: supply exceeds demand

November 10, 2022 at 3:40 PM, Der AUDITOR
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SACRAMENTO. According to market players, unfavourable weather conditions may have caused the US walnut crop to be smaller than expected. However, a lack of demand and an increase in global production are currently preventing prices from rising significantly.

US crop still unknown

In recent years, grower prices for US walnuts have been at record lows. The Walnut Bargaining Association (WBA) therefore recommended that walnut farmers wait as long as possible to determine commodity prices this year. While no huge jumps were expected, the chances were good that growers could achieve higher prices than last year.

Last year, the California Ag Statistics Service (CASS) had initially estimated US walnut production at around 608,000 mt, but in fact the result was much better and production data was increase

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