Walnut Prices for raw material in Eastern Europe seem to ease bit by bit these days – October 2018

Prices for raw material in Eastern Europe seem to ease bit by bit these days, adjusting to more realistic levels for exporters to compete again. Whereas the first trucks were dispatched already early October last year, most packers are not in the position to dispatch their first loads yet at the moment. The
1.) already late crop, followed by
2.) slow intakes of raw material due to high prices, combined with
3.) less forward contracts / buying interest prior to the season are now resulting in a stressed market.
Alot of traditional buyers are looking for product to be delivered in the next couple of weeks, whereas the production capacity of most processors is still limited due to availability of (well dried) material. Despite that the downwards trend in pricing isn’t completely vanished, we do advise to take a look at your nearby positions as availability is becoming more of an issue for nearby deliveries. We might see a somewhat similar situation in California later on, as long as buyers continue buying at a slow / hand to mouth pace. The August shipment figures managed to smaller the gap in year to date shipments, but overall figures still indicate overall quantity to be 10% below last year still..

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