USA Walnut carry-out estimate
We are continuing to see Walnut prices fall, as we predict a total of over 177,000 tons carry over in August 2022. This represents 30% of the total sales for the year. This astonishing figure comes as the highest carry our prediction on record and is set to drive pricing lower further into 2022. Packers have mentioned that good light colour chandlers may be harder to procure later into the year.
The carry out figure of 177,000 tons comes as a surprise to some, as opening stocks showed almost 770,000 tons. This is around 60,000 tons less than the 2020 opening stock. Carry out figures have been gradually increasing year-on-year since 2016 where the carry out figure was 32,000 tons. Total shipment figures are estimated to be around 590,000 tons in August 2022.