Walnut Prices in Hungary Decrease to Their Lowest in Six Months on Harvest Pressure, Increased Competition

Walnut prices in Eastern Europe are under harvest pressure as the Northern Hemisphere crop is starting to come in. Wholesale prices in Hungary experienced a 1.5% MoM decrease to USD 8.17/kg by early September, the lowest since March. Expectations of a sizable walnut harvest in Ukraine, Moldova, Romania, and Hungary, as well as increased competition from the US, China, and Chile, are weighing heavily on prices. Coupled with subdued consumer demand, walnut prices could remain under significant downward pressure throughout September and October.