Walnut Market Update February 2022 Week 5

After weeks of market stagnation, the prices for walnut kernels have fallen in Moldova. As reported, prices have fallen to US$0.55/kg in the past week alone. However, as bad as this sounds, it is worth noting that prices are still better than at the start of the season in October and the prices this time in 2021.

The primary reason behind this is that the Moldovan Leu has declined sharply against the US Dollar and the Euro. Apart from that, there's low demand in Europe and Turkey as well, and since traders expect prices to fall even further, there's a reluctance to purchase.

High-quality nuts are available throughout the domestic market, and retail prices range from twice as high. Demand needs to revive in Europe, and traders are prepared to pay and await the revival to do business.

There's been a rumor that buyers are not happy with the offer on US walnuts so, they may look elsewhere.

It is worth noting that shipments to Germany have decreased by 7.2% between September and November, compared to the same time in 2020. The USA has gained market shares from Chile. Shipments from Moldova have declined by nearly 56%