France: The walnut sector in turmoil

For several weeks, the nut industry has been worried. Already at the beginning of December, after the delivery of the 2022 harvest, no down payment was made and the purchase cost remained unknown. The most unfavorable feedback then reported a price of around €1/kg, well below the cost of production (€2.53/kg in 2021). At the roots of this crisis, several factors. 2022 is indeed a record year in terms of harvest in France but also in the world. It is arriving on a market still supplied by China and Chile and by the postponement of the 2021 American harvest, even though that of 2022 has not arrived. Added to this situation is the decline in purchasing power in France, which penalizes consumption. Finally, the size of the 2022 harvest is causing significant storage problems and costs. Faced with this situation, the temptation is great to sell off the harvest. However, the producers of the Southwest refuse to do so. “We collectively refrain from giving in to panic by “getting rid” of ...