Some interesting developments in the walnut industry where shared during the online INC conference this week. The rapidly increasing growing capacity of China was once again highlighted, followed by favorable conditions and thus positive expectations for their coming crop. Expectations for the new Californian crop were less positive, a small decrease in production is expected based on freeze damage and removals of older variety walnuts. In Chile the 2021 crop is already harvested, which turned out to be in the range of 130.000 MT instead of the earlier projected 150.000 MT. This is again a lower than expected crop, which is giving room for thought and review of the growth plans of the Chilean industry towards the future. The 2020 crop of Eastern-Europe was reported to be down 30% compared to 2019, expectations for the 2021 crop are back in line with the 2019 crop, based on decent rainfall and mild conditions so far. The overall market perspective on the short term remains unchanged, meaning very low availability of halves, firm pricing and recommendation to cover your needs at least till new crop for each region. On top of that is the expected carryover for both the US, China and Eastern-Europe heading towards low levels, paving the path for a firm opening of the new crop in most regions as well.
