Nick Papagni of AgNet West discussed the walnut outlook with Michael Jameson of Morada Nut Company, noting shifts in crop projections and trade dynamics. Jameson remarked, "This year's crop is estimated at 650,000 to 700,000 tons, which is ideal for California. Last year, prices were up, but yields were down. This year, we're hoping for strong yields and solid prices, which could finally deliver real profits to growers."
Jameson highlighted the impact of Indian tariffs: "Currently, there's a 100% tariff on California walnuts going into India. That doubles the cost of delivery." A U.S.-India agreement will cut the tariff to 30%, enhancing trade potential. Papagni noted, "This new deal is a major step toward a U.S.-India free trade agreement, expected by fall 2025. It's a game changer." With low carry-in inventory and a September harvest anticipated, India may become a vital market this season.
The California walnut sector maintains optimism with projections of favorable crop and pricing conditions coupled with improved access to Indian markets.
Source: AgNet West
