Slow but Steady Recovery of European Walnut Prices Expected After Post-Easter Demand Drop

European walnut prices are recovering after a post-Easter drop. Prices in Spain increased 4% MoM to USD 4.03/kg (in-shell) on April 10th, while in Italy, prices increased 1.5% MoM to USD 4.13/kg. Walnut prices in Europe can continue to recover since they are still relatively low, and a slow but steady recovery in global demand is providing more support. However, any price increase will be painfully slow due to the abundant global stock of walnuts.