Walnut Market Report 22.07.24

Slower shipments have been observed during the 2024 season compared to 2023 and 2022. By week 23 of 2024, Chile had shipped 23,071 metric tons, partly due to a delayed harvest. India's demand for Chile's inshell walnuts has been significant, with 5,423 metric tons shipped by week 23, though this marks a 67% decrease from the same period in 2023.

Regarding shelled walnuts, shipments to Spain - Chile's primary market for shelled walnuts - have decreased by 47% this season. Additionally, shipments to Germany and Brazil have plummeted by 87% and 89%, respectively. This season has seen a higher concentration of shelled walnut shipments compared to 2023. Up to week 23, shelled walnuts accounted for 20% of Chilean exports, down from 28% in 2023. It's still too early to predict if this trend will continue throughout the year.

In the United States, commitments of the total supply until May 2024 stood at 88%, with shipments totalling 643,878 metric tons on an inshell basis. The available inventory at the end of May 2024 was 101,068 metric tons. The main markets for the 2023-2024 season have been the domestic market (USA), Germany, Turkey, Spain, Japan, South Korea, and Italy.

Chile's 2024 walnut harvest was 134,500 metric tons, about 27% less than the 2023 harvest. By mid-June, Chilean walnut commitments were 69.2% of the estimated crop, similar to the same period in 2023.

via SuperFruit