Walnut Market Update November 2021 Week 47
As expected, there has been a lack of shipment due to the ongoing logistic problems that have affected everyone for most of the year. In fact, October numbers have actually just started to reveal how the new crop shipments will perform. The reason this is so late in the season is because September numbers were found to be very skewed. This has made everyone very cautious.
In-shell shipments are down by 46.6% and kernels by 13.6%. Lack of shipments were seen across all major markets.
Shipping Trends
Domestic (USA) – in-shell: -32.1%, kernels: -11.1%
Europe – in-shell: - 23.2%, kernels: -10.8%
Middle East – in-shell: -62%, kernels: -48.1%
Asia – in-shell: -75.6%, kernels: -19.9%
Updates to Remember
Generally, the domestic walnut market is quite off, but there is plenty of stock. Most European buyers were hesitant to buy due to the prevalent shipping concerns. The middle eastern market is essentially non-existent as they prefer buying from China and Asia.
Total crop yields have been 564,714 tons this year, a fall from last year's 785,000 tons. The NASS estimates a final crop of 670,000 tons.