Walnuts... thoughts of pacific atlantic
A Bright spot in the Ag World. Sales have been very good. Currently strong increases in Europe and the Middle East are driving sales. Asia remains on the weak side but we do believe activity will pick up. Korea is getting through their inventory hangover from the excess old crop inventory. Demand appears to be picking up in Korea. Even with the huge declines in China and Vietnam, overall sales are still trending above last year and November had a 14% increase overall.
Over the past two weeks we have seen Chandler prices start to firm. It is still expected that the Chandler crop will probably be sold out by April/May.
Chandlers right now are trading in the range of $3.00-$3.20 depending on source and quality. Non-Chandler and Combo product will remain weak throughout the year. Another big crop is expected in 2016 so the industry is working hard on advertisement and promotional activity to recover old market shares and generate new demand globally.