Walnut Shipment Report 12.03.24

In February 2024, California's Walnut industry witnessed substantial growth in both inshell and kernel shipments compared to the same period last year. Let's delve into the details of this report and explore the dynamics driving this surge in demand.

February inshell shipments soared to 29.7 million lbs, a remarkable 30% increase compared to February 2023, which stood at 20.7 million lbs. This growth trend extends to the overall 2023/24 crop season, where inshell shipments have surged by 25%.

Similarly, Walnut kernel shipments experienced a significant uptick, reaching 56.386 million lbs in February 2024, up by 20.6% from the 44.792 million lbs recorded in February 2023. For the 2023/24 season, kernel shipments have surged by 18%  compared to the previous season.

Key markets- February 2024 vs 2023

• Turkey: Notably, inshell kernel shipments to Turkey skyrocketed by an impressive 54.57%
• UAE: While inshell shipments to the UAE saw a decline of 68.99%, other markets compensated for this decrease.
• India: The Indian market emerged as a standout performer with a staggering 98.11% increase in inshell shipments, indicating a growing appetite for California walnuts.
• Germany: Kernel shipments to Germany surged by 88.97%. demonstrating a robust demand for high-quality walnut products in European markets.
• Middle East/Africa: Inshell shipments to the Middle East and Africa rose by 27.13%, underscoring the region's significance in California walnut exports.
• Europe: Kernel shipments to Europe witness substantial growth, with a notable increase of 72.80% reflecting the continent's growing affinity for California walnuts.

The sustained increase in shipments can be attributed to the combination of competitive prices and superior quality offered by California suppliers. Buyers have capitalised on the favourable conditions, resulting in heightened demand across various markets. Notably, exceptional quality has been a driving force behind the surge in shipments to India, where year-to-date inshell shipments have surged by an astounding 168%. The parity in inshell shipments between India and the UAE signifies a significant achievement for California suppliers.

In addition to inshell shipments, kernel markets have also witnessed robust growth. Key markets such as the USA, Israel, and several European countries posted impressive gains, indicating a widespread appreciation for California walnut kernels. Notably, Israel recorded a remarkable increase of 142.32% in kernel shipments.

via Summit Tree Nuts