Walnut Market Update February 2022 Week 6

Good news! The Christmas supplies of walnuts have finally arrived in Europe. Of course, this has led the market under pressure, but it's good news. Let's see what else has happened in the industry.

What Will Happen to the Supply?

As mentioned, shipments intended for Christmas have slowly arrived in Europe. This is a unique situation since, as we know, ports remain congested, and there is a lack of staff due to the pandemic's erratic behavior.

Due to this, there has been a sharp decline this week in prices ranging up to EUR 0.55/kg (USD 0.63/kg) lower. However, these declines are failing to attract buyers, who currently hold sufficient supplies. 

Meanwhile, back in China, it has been reported that a record volume of walnuts has been exported in 2021, doubling the volume of kernels to 47,000 met and 115,000 mt for in-shells.

Export value is reported to be over US$ 420 million, with Russia, Kyrgyzstan, and Kazakhstan being the most exported countries.