Chile: Reduced walnut harvest and high global demand leading to critical shortages

In the latest Market Report for June 2024, carried out by the exporter La Invernada, a challenging outlook for the global walnut market has been revealed. The combination of a significantly reduced harvest in Chile and continued global demand has led to a critical shortage situation and an increase in prices. Global nut shortage The report highlights that major walnut producers around the world are facing significant reductions in their inventories. China, the largest producer and consumer of walnuts globally, has been prioritizing its domestic market, which has shown signs of recovery after the pandemic. Meanwhile, California has had a bumper crop in both volume and quality, but has adopted an aggressive pricing policy that has led to record monthly shipments and a projected low inventory by the end of the season. Chile, for its part, has experienced a 26% decrease in its harvest, which will not allow it to satisfy the usual demand of its customers, known for preferring the ...