Walnut Market Update

News is in that the walnut crop is progressing nicely. It is predicted by most industry experts that the crop will be between 680,000-710,000 tons. The California Walnut Handlers held a meeting where discussions and estimates were submitted with regards to their on crop, when collated together it was an estimated of  691,000 tons of new crop. Last year’s crop was 672,000 tons so the 2019 crop is expected to be slightly larger in quantity. However, this is just an estimate, please note the official estimate performed by NASS will be made at the end of August.

The Chandler crop looks to be mostly strong, although there is some inconsistency from region to region. Howards look good in some orchards and well below last year in others. Tulare should be down after a very strong season last year.

Potential harvest has been affected by the cool weather in the spring, delaying the process. the weather has been mild for most of the summer until recently when the temperature reached 105 degrees Fahrenheit, this excessive heat can affect the quality of the crop.

Prices on inshell have increased around 10 cents per pound due to strong demand for first shipments from Turkey and Middle East.  Most sellers have been patient this summer waiting to see how the trees would develop before beginning to market their crop.