Low Prices of US 2021 Walnuts in W39 Due to High Supply

As a result of a sizable carryover of the 2021 walnut crop, a good walnut harvest in 2022, and weak demand from Europe, Turkey, and India, US producers managed to keep walnut prices low in W39. Although buyers request supply from the 2022 crop, producers only provide the 2021 crop at a low rate of USD 1.80/lb. As 2023 approaches, the possible effects of this cheap stock could lead to dark brown walnuts that taste rancid. Hence, buyers need to be wary of extremely low-priced walnuts, even if they are stated as a 2022 crop, which is not guaranteed.