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

Published Jun 21, 2024

Tridge summary

The June 2024 Market Report by La Invernada highlights a challenging situation in the global walnut market, with a significant decrease in Chile's harvest and continued high demand, leading to a critical shortage and increased prices. Major walnut producers like China and California are experiencing reductions in their inventories. Chile's commitment levels have increased, reaching 62.8% as of May 31, with some products becoming scarce. International demand is also on the rise, especially from India, Europe, and Turkey. Prices for shelled nuts have increased, and the industry is seeking a new balance between supply and demand for long-term stability.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

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 ...

Source: Portaldelcampo