California Walnuts Have Big Markets Around the World
“For the Walnut industry in general, the biggest markets still the U S market. Europe is fairly substantial,” noted Poindexter.
“Germany is a huge buyer. Although, when you get into Germany, not all of the walnuts necessarily stay in Germany. They may cross over borders once they get into Europe, but the EU buys a huge amount of walnuts,” he said.
“Japan is a consistent big market for the US. South Korea is a big market for the U S and the Middle East has been a big market, but that's been a little shaky as of late with ports shutting down and disrupting the flow,” said Poindexter.
“Even if your port is not shut down, if the shipping container goes to another port first, and that port is shut down, that may delay the containers. They wait for a chance to get in there and to offload the goods,” he explained.
In more news, almond crop commitments are up over last year. New crop commitments are reported at 287 million pounds compared to last year's 133 million pounds at the end of May. The selling has been more robust early on the larger 2020 supply. Activity has been strong in North America and the EU with China and India, more recently, beginning to gather momentum.