A new shipment report on Californian walnuts has been published, which again indicates a lower volume than in the same month last year. Demand for inshell (-32.0 million pounds) and shelled (-5.3 million pounds) walnuts has fallen, resulting in significantly lower shipments to most major markets. As a result of slow demand, prices have fallen from their initial levels to levels like those of the 2020 crop. A positive thing is that the high opening prices dropped to levels where we have seen strong demand in past seasons. This should provide attractive buying opportunities for the future.
We can see from the low December shipping figures to the major markets that demand is sluggish. We therefore expect buyers to come to the market in the coming period to replenish their stocks.
Another difficulty for the walnut and almond market remains the logistical issues. Shipping space to the major markets is still rather limited, with bookings continuously rolled. Our advice therefore remains to focus on the reliability of supply and ensure that the pressure of deadlines does not lead to a compromise on quality.