The California Walnut Board's March 2026 shipment report, released April 8, shows higher shipment volumes for both the month and the season to date. Total shipments reached 166.4 million pounds in-shell equivalent in March, up 43.6 per cent compared to the same month last year.
March shipments increased from 115.9 million pounds in 2025 to 166.4 million pounds in 2026. The growth was driven mainly by in-shell shipments, which rose from 3.1 million pounds to 30.5 million pounds, an increase of 867.9 per cent year-on-year. Kernel shipments also increased by 20.6 per cent to 57.8 million pounds, compared to 47.9 million pounds in March 2025.
Market participants link the higher shipment pace to improved supply following last season's production shortfall, which limited shipments during the 2024-25 season. With more inventory available, sellers have increased shipment activity, contributing to higher volumes compared to the previous year.
© Mintec/Expana
The product mix shifted during March. Kernel shipments accounted for 81.7 per cent of total volume on an inshell-equivalent basis, compared to 97.3 per cent in March 2025, reflecting higher inshell movement.
For the 2025-26 marketing year to date (September to March), total shipments reached 1.04 billion pounds in-shell equivalent, up 22.6 per cent from 852.0 million pounds in the same period last year.
Inshell shipments showed the strongest growth, increasing to 252.3 million pounds from 128.2 million pounds, a rise of 96.9 per cent. Kernel shipments increased by 9.5 per cent to 336.8 million pounds, compared to 307.6 million pounds in the previous season.
Market sources indicate that the higher shipment volumes have occurred alongside declining prices, as the market adjusts to improved supply. Industry sources describe the market as under pressure, influenced by lower prices, competition from other origins, and seasonal market patterns.
Total receipts for the 2025-26 crop stand at 1.62 billion pounds, with 98 per cent conventional and 2 per cent organic. By the end of March, 73.6 per cent of this year's supply had been shipped. Including outstanding commitments of 399.5 million pounds in shell-equivalent, 67.8 per cent of the total available supply has been sold.
The shipment pace reflects efforts to move inventory following last year's supply constraints, with selling activity focused on maintaining product flow in a lower price environment.
In-shell-equivalent calculations are based on a 42.5 per cent crackout ratio.
Source: Mintec/Expana
