The 2017 nut harvest began this week, two weeks ahead of schedule, with the Serr variety. The weather conditions were favourable in spring, except for frosts in some areas, which allowed the walnuts to develop normally. The country expects the production will surpass 90,000 tons, i.e. about 20% more than in 2016. Last year producers had losses in the Serr variety because of flowering problems, and in the Chandler variety because of the rains, so were only able to produce 72,000 metric tons.
At the international level, the United States, which had an aggressive pricing policy, managed to consume the stock it had from the previous season and place most of this season's production in the markets, so it currently has low stocks, which is reflected in the target markets.
Recently, at the Gulf Food: Dubai fair, producers confirmed that there was a high demand for nuts and an increase in demand from India and Morocco. There's been a slight improvement in the exchange rate in the European market that generates a better exchange scenario. Europe and the Asian markets, such as Japan and Korea, have low stocks, which is increasing the demand for Chilean nuts. Meanwhile, the Turkish market is waiting to see the volumes of the Chilean harvest and for prices to stabilize before buying the product, as there still is time before the start of Ramadan.
So far, prices have increased by 10% to 15% compared to the prices in 2016 before the rains. The market, however, is still uncertain during the harvest period but is expected to stabilize in late March.
More information:
ChileNut
Cruz del Sur 133, of 701 - Las Condes.
Teléfono (56) 22 472 4729 Santiago - CHILE