After several months without serious rainfall, did the first showers since summertime arrive in Eastern-Europe this week. It is expected – and hoped for – that these rains will provide a last boost to the trees which they need to crack the green husk and get the nuts ready for collection. Packers hope that this scenario will lead to receipts of the first decent quantities of raw material in the course of next week, giving more clarity on the actual size and quality of this season’s crop in Eastern Europe. Given the late start of the collection this year, the capacity for deliveries up to the end of November is expected to be less then normal. As such, it can be advised to check on actual delivery possibilities in case of any traditional (Christmas) nearby needs.
In the meantime spot pricing for walnuts in the EU, which is mostly US origin at the moment, went up rapidly during the second half of September. While most people saw prices from California falling week by week during the last months, did most people not feel the need to stock up, leading to low inventory available at the moment. With still some weeks ahead before the first vessels of new crop will arrive in Europe, is a relief very unlikely to be seen on the spot market. Pricing for new crop shipments itself is still a bit blurred. Buyers don’t feel confident to book forward, keeping the record size of the 2020 crop in the back of their mind. At the same time (most) packers don’t want to give in any further, as the bottom has been reached in their perspective. As a result the market appears rather weak at the moment, with different motivations and thus prices going crisscross through the market.
