Walnut Prices in France Finds Support on Easter Demand, but Price Gains Could Be Short Term

Walnut prices in France increased by 17% to USD 6.29/kg in wholesale markets in Rungis in the first week of March due to strong demand for Easter celebrations. Walnuts are commonly used in European pastries and offer good value over other nuts at current price levels. Despite weak nut consumption since late 2021, European imports have increased in recent months due to low prices. Even with a slight increase in demand early in 2023, ample global supplies will continue keeping prices low until at least H2 2023. After buyers fulfilled their Easter purchases, prices might decrease once more.