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Walnuts December 23, 2021

The California shipment report for the month of November was released two weeks ago, indicating again a lower volume than the volume shipped in the same month last year. If we look at the total volume shipped so far this marketing season, we see that California is roughly 30% behind compared to last season. Given the fact that California has a large portion to ship, plus the fact that Chile will ‘already’ come around the corner in March, it seems to be a buyers’ market at the moment. However, the fact that a lot needs to shipped says something about the available inventories as well, hinting that there’s still a lot of regular demand to be covered, making it impossible to draw conclusions at this stage. Eastern Europe is preparing itself for a long holiday break, which in most cases continues till half way January based on the Christmas season in Russia. The appetite for bookings into 2022 seems to be very mild, giving some relief in terms of physical availability and prices as we enter the new year.