Prices of smaller-sized Chilean walnuts in the global container market slipped in the week to Thursday amid a lull in selling activity as buyers assessed the quality of recently delivered first shipments.
NPX 20/22 fell to its lowest price level this crop year in the global container market the week ending Tuesday on increased selling interest.
Though May walnut shipments from Chile declined 30% from last year, market observers said this year’s shipment pace is normal considering that last year’s sales accelerated during the same period after a new crop estimate was lowered.
Walnut prices in the global container market drifted in the week to Thursday as Chilean packers continued to focus their inshell sales on India and the first signs of U.S. new crop activity surfaced.
Inshell prices fell for the fourth consecutive stretch in the global container market the week ending Tuesday even as trading activity increased.
For years, Chilean walnut handlers sold their product on a Cost, Insurance, and Freight (CIF) basis, meaning they managed the transportation of the product to buyers in global markets.
California walnut exporters recorded their strongest ever total for May in a sign that logistics issues may be easing, allowing the industry to dispatch previously delayed containers.
Walnut prices in the global container market dipped in the week to Thursday as sales from Chile slowed and offers fell for U.S. export-grade kernels.
Record May shipments of 258 million lbs encouraged sellers as the market received its first look at new crop sales.
Prices dropped for most items in the global container market the week ending Tuesday as concerns about oversupplied markets countered robust May shipments.
