Nuts

Walnuts: trading suffers in Eastern Europe

March 1, 2022 7:25 AM, Der AUDITOR
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KYIV/BEIJING. While the crisis is unfolding in Ukraine and this is creating a high degree of uncertainty, demand is shifting towards China. Most traders in Ukraine have withdrawn from the walnut market.

Developments impossible to predict

Russia's invasion of Urkaine is making matters for walnuts worse in Eastern Euope. Suppliers in Ukraine report that demand is high. The war, however, makes it impossible for them to issue any offers. Market players also state that supplies are becoming more and more limited. As everything depends on Russian president Vladimir Putin it is impossible to predict any developments for the next few weeks. The sanctions imposed on Russia will also disrupt trading.

As demand has risen for walnuts in China prices are expetced to rise here. Although freight charges have remained relatively firm for now, this may change in March depending on energy costs, which are very high at present and may rise further. The West may have cut off several banks in Russia from SWIFT (Society for Worldwide Interbank Financial Telecommunication), trading is, however, still possible with China, which uses CIPS (Cross-Border Inter-Bank Payment System).

Prices continue to fall in Europe

While traders in Ukraine are unable to conduct business, the prices for walnuts from other origins have continued to decline sharply in Europe. The prices for hand cracked Chandler walnuts from Chile, for instance, range at USD 7.69/kg (EUR 6.90/kg) FCA Spain. Shelled 185, 90% extra light half pieces from China cost around USD 5.97/kg (EUR 5.63/kg) FCA Spain.

Walnuts

Type

EUR/kg

USD/kg

Chandler, ELHP 80%, Chile, hand cracked

6.90

7.69

Chandler, LHP 80%, USA

5.86

6.22

Chandler, inshell, 30-32 mm, Chile

2.38

2.65

Type 185, shelled, ELHP 90%, China

5.63

5.97

XIN2, inshell, +32 mm

2.89

3.22

FCA Spain

 

 

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