Walnut prices in the global market came under renewed pressure in the week to Thursday as sellers in the U.S. and China lowered their offers for new crop inshell amid lackluster demand in destination markets.
Prices fell in the global almond the week ending Tuesday as an abundance of supply and a strengthening U.S. dollar continued to sap demand.
The pace of Chilean walnut shipments fell in August as increasing inshell exports to Turkey were offset by lower inshell deliveries to India and Europe.
U.S. inshell and kernel prices rose in the global walnut market the week to Thursday in limited trading as U.S. packers said early harvest data revealed reduced light kernel availability due to heat damage.
Inshell trade activity livened after a slow start in the global almond the week ending Tuesday on demand from India ahead of a key almond consumption period in the country.
U.S. walnut shipments in August, the final month of the 2021-2022 crop year, increased 14% month year-on year, boosted by a rollover of shipments from July when shutdowns at the Port of Oakland reduced throughput.
U.S. inshell prices in the global walnut market came under more pressure in the week to Thursday as Chilean packers lowered their offers to chase demand amid a challenging opening season for northern hemisphere producers.
“It was definitely better than I expected,” said a San Joaquin County packer on Friday. “My thought would be California will more or less demand some kind of increase across the board or withdraw.”
Prices flattened in the global almond market the week ending Tuesday as the first position report of the new crop year brought good news for sellers but failed to spark a rally.
The walnut market reacted with surprise to a lower-than-expected USDA crop estimate at the tail end of last week, spurring a short-lived uptick in inshell prices as buyers largely declined to chase higher offers.
