The minimum wholesale prices for inshell walnuts (from 25 to 23 MDL/kg, $1.29/kg) and walnut kernels (from 100 to 90 MDL/kg) have decreased last week in Moldova. Traders claim that prices for walnuts purchased in small bulk from small farms, as well as from individuals have decreased – that is, mainly for walnuts harvested in forests and alleys along the roads. The quality of these walnuts is average and below average.

As many participants in the walnut market note, the determining factor in the minimum price reduction is not the walnut quality, but a noticeable decrease in demand from European wholesale buyers. According to exporting traders, the decreasing interest in new contracts for the purchase of Moldovan walnuts of the 2021 harvest started two weeks ago since European buyers had an alternative – American walnuts of stable quality at a price only slightly higher. As a result, Moldovan suppliers have almost no new contracts and they are fulfilling the previously concluded ones.

Read also: Moldova: new requirements for the quality of fruit and vegetable sales came into force

Probably, due to small deliveries under last year’s long-term contracts, the average level of wholesale prices (in national currency) for walnut kernels in February 2022 is still 8-10 MDL/kg higher than in February 2021. However, due to high inflation, there is virtually no price advantage in dollar terms.

A noticeable decrease in demand for walnuts in February in the domestic market aggravates the unpleasant market situation.

Сообщение The price of walnuts in Moldova decreases due to weakening demand in the European Union появились сначала на EastFruit.

After a month of stability, price decline for wholesale walnut kernels resumed in Moldova. The prices dropped by an average of 10 MDL/kg ($0.55/kg) to 110 MDL/kg ($6.11/kg) last week. The average price is still higher than at the start of the season in October (100 MDL/kg, $5.65/kg), or in January last year (90 MDL/kg, $5.11/kg). It is worth considering that, firstly, the current reduction is influenced by a dynamic depreciation of the Moldovan leu against the dollar and the euro, which is unlikely to slow down or stop in the near future. Secondly, some operators of the local market do not rule out that the decline of walnut prices in MDL will continue in Moldova in January.

According to Moldovan traders, prices for walnut kernels fell due to almost zero demand from Turkish buyers (in the context of the lira devaluation), as well as buyers from some South European non-EU countries. Incidentally, prices for almonds, which are mainly exported to the Turkish market, are also decreasing in Moldova. In previous years, sales of low-quality walnut kernels to Turkey and the Balkans were important for Moldovan exporters at the end of the marketing season.

In addition, the “post-holiday” demand for Moldovan walnuts in the European Union in January 2022 has not yet revived either. There are chances for this – Moldovan traders claim that their European partners are dissatisfied with the “price/quality” ratio of American walnuts, which are currently entering the EU market.

For some growers that have small stocks of high-quality walnuts, the domestic market of Moldova has now become the main market for selling walnut kernels. Their retail (and small wholesale) price if delivered to the client, is almost twice higher than the price offered to farmers by exporters.

Сообщение Prices for walnuts in Moldova are declining due to low demand in the EU and Turkey появились сначала на EastFruit.

EastFruit analysts report that according to preliminary estimates, the exports of walnuts from China increased by 60% in value terms in 2021, despite record low walnut prices in the first half of the year. Notably, several post-Soviet states are among the main importers.

China has set new records for the exports of inshell walnuts and walnut kernels in 2021. According to our estimates, the exports of kernels has doubled over the year to 45-47 thousand tonnes, and the exports of inshell walnuts has increased by 50% to 110-115 thousand tonnes.

In total, China earned about $420 million from the exports of walnuts in 2021, which was also a new record. Thus, China may rank third among walnut exporters in 2021, bypassing Chile and increasing the gap with Ukraine, which still remains the fifth. Ukraine continued to experience difficulties with walnut exports due to low global prices and changes in the regime of access to the Turkish market (read more about the results of the Ukrainian walnut season here).

It should be noted that there are three post-Soviet countries among the six largest buyers of Chinese walnuts: Kazakhstan, Kyrgyzstan and Russia. At the same time, the exports of walnuts from China to Russia in 2021 increased by more than 50%.

Unexpectedly, the UAE became the main buyer of walnuts in 2021, having increased imports by 250%. Kazakhstan and Kyrgyzstan are the second and third, respectively.

Turkey, which sharply reduced the imports of walnuts from Ukraine, seems to have replaced Ukrainian walnuts with Chinese ones. The exports of walnuts from China to Turkey increased around 120% by the end of 2021, and Turkey ranked fourth among the most important walnut markets for China.

We also note three more fastest growing markets for Chinese nuts: Iraq, Vietnam and Saudi Arabia. These countries have more than doubled their imports of Chinese walnuts in a year.

You can find the largest suppliers and buyers of walnuts from Ukraine, Moldova, Russia, Uzbekistan, Georgia and other countries of the region on our trading platform in Telegram EF Trade Platform.

Сообщение China continues to push competitors out of the global walnut market появились сначала на EastFruit.

According to EastFruit analysts, after the UK left the European Union, most EU countries have reduced the supply of fresh vegetables, fruits, berries and nuts there. However, Brexit had a positive effect on the export of fruits, berries and nuts from Ukraine to the UK.

In particular, in the first 10 months of 2021, the volume of Ukraine’s export earnings from the supply of fruits to the UK grew 2.4 times and reached a record $4.9 million. Exports of frozen raspberries increased sharply, although they were not the main item of Ukrainian exports to the country. Walnut kernels remained the leader in terms of revenue, accounting for about 63% of all export earnings in the period under review. The revenue of Ukrainian exporters of walnut kernels to the UK in January-October 2021 increased 3.3 times compared to 2020, and the volume of supplies – 3.7 times to 590 tonnes.

Fresh blueberries became second in terms of revenue, bringing Ukrainian exporters 65% more money. By the way, the volume of supplies of fresh blueberries also increased by 65%, which indicates the stability of their price. In total, 217 tonnes of Ukrainian blueberries were delivered to the UK. Frozen berries (raspberries, blueberries and strawberries) and fresh watermelon were supplied in smaller volumes.

We note that Ukraine did not supply a single kilogram of apples to the UK in 10 months of 2021 for the first time in a long period. For example, the volume of Ukrainian apples exported to the UK in 10 months of 2019 exceeded 700 tonnes! Also, Ukraine stopped supplying cherries and inshell walnuts to the UK, and the exports of watermelon fell to 9 tonnes.

Сообщение After Brexit, Ukraine has sharply increased the exports of fruits, berries and nuts to the UK появились сначала на EastFruit.

By the middle of December, the price of inshell walnuts and kernels in bulk rose by 3-7 MDL/kg ($0.16-0.39/kg) compared to the beginning of the month. It is the minimum prices that have mainly increased: kernels are now purchased at 120 MDL/kg ($6.77/kg) minimum, inshell walnuts – at not less than 25 MDL/kg ($1.4/kg). At the same time, according to the monitoring of EastFruit, the maximum price level remains unchanged for the third week – 130 MDL/kg ($7.3/kg) and 30 MDL/kg ($1.69/kg), respectively.

The UAPCN, the Union of Moldovan Walnut Growers’ Associations, believes that the stabilization of the maximum price level for high-quality walnuts, both kernels and in-shell, indicates that traders are no longer expecting large purchases on the market. The offer is minimal, and purchases are mainly made within previously concluded agreements between walnut growers and traders. Highly demanded American and French walnut varieties have already been sold (except for very small volumes in some walnut-growing enterprises to be sold at a high price mainly in local retail in 2022).

A small but constant increase in the level of minimum wholesale prices for kernels and in-shell walnuts also indicates that traders hope to intensify the purchase of low-quality walnuts from forest belts and alleys along the roads in December. It is difficult to assess how many nuts can still be harvested there. The UAPCN union believes that the volume can amount to dozens of tonnes.

However, intensive purchases of walnuts are coming to an end. Traditionally, there is a quiet period in the walnuts market from the last week of December to the second half of January.

Сообщение Walnut prices keep rising in Moldova, but it will not last for long появились сначала на EastFruit.

By the end of the first week of December in Moldova, the average wholesale price for walnut kernels increased by 5 MDL/kg compared to the end of October – up to 125 MDL/kg ($7.05/kg). At the same time, the price range is very wide: from 110-115 MDL/kg for dark quarters ($6.20-6.48/kg) to 130 MDL/kg ($7.33/kg) for light halves of kernels. For large walnut kernels without shell of American and French varieties, some exporters are willing to pay more.

At the beginning of December last year, the average price for walnut kernels in Moldova was significantly lower – 85 MDL/kg ($5/kg) and the price range within 80-90 MDL/kg ($4.7-5.3/kg). In the last five years, the average wholesale price for kernels on the Moldovan market did not rise above 100 MDL/kg ($5.9/kg) until recently.

Earlier EastFruit reported that the rise in prices for walnuts in Moldova was expected. In late October – early November, members of the Union of Association of Producers of Nut Crops of Moldova, UAPCN, considered it probable that prices for Catholic Christmas would rise to 140 MDL/kg ($8/kg). The reason for optimism then was the high demand for walnut kernels on the part of exporters and, most importantly, their willingness to raise purchase prices almost every week. The UAPCN believed that given high demand and dynamically growing wholesale prices, about 80-90% of the new walnut harvest would be sold by the end of 2021.

It is difficult to judge to what extent these expectations will be justified. High demand for walnuts is likely to remain on the domestic market for at least another two weeks. However, the supply of quality walnuts is shrinking, since their stock are already small. It is not guaranteed that a further increase in purchase prices can improve the situation.

Сообщение The wholesale price for walnut kernels in Moldova has reached the five-year high появились сначала на EastFruit.

The Association of Almond and Walnut Growers of Georgia held a conference on November 4, 2021 where the results of 2018-2021 were summed up. The event was attended by farmers, as well as representatives of government and donor organizations.

Leri Tabatadze, a member of the board of the association, spoke about the current season and the vision of the association for the development of the sector.

According to the association, farmers harvested a total of 800 tonnes of dry inshell walnuts in the 2021 season, most of which will be sold on the local market. According to Tabatadze, the quality of walnuts from the new orchards is not yet sufficient for exports in the  European market. The crop has already been harvested. Inshell walnuts from new orchards are sold at 7-8 GEL/kg ($2.21-2.53), while the price of kernels ranges from 25-30 GEL/kg ($7.9-9.5). The market is not yet saturated and Tabatadze believes that prices will not fall in the near future, because Georgian walnuts will replace imported ones this year.

Tabatadze also spoke about the current state of the walnut and almond processing sector. There are only 3 walnut processing enterprises operating in Georgia now, but 5 more are planned to open next year, which will satisfy the market, he says. As for almonds, according to Tabatadze, it is more complicated, since there are no almond processing plants in the country yet. Processing is an important part of the almond value chain, as export markets mainly demand almonds without shell. However, 2-3 almond processing plants will be opened with government support next year, which will help create export products, he said.

In addition, Tabatadze raised the question of exemption of shelled walnuts and almonds production from VAT. The association believes this will help the sector get out of the shadow market, as well as compete with imported nuts. According to Tabatadze, the state had previously made such a decision on hazelnuts, which brought positive results. The Association plans to lobby for this issue in government agencies.

Read also: Hazelnuts exports from Georgia: Official trade data looks good but is not reflecting the whole picture

The association will act as an intermediary between growers and government agencies, and will also facilitate the exchange of information between farmers and processors, for example, on where they can take their crops for processing. The goal of the association is to create services to attract local growers.

The Almond and Walnut Growers Association was established by farmers in 2018 and currently has over 30 members. Since December 2020, the Association has received support from the USAID Agricultural Program in Georgia.

Сообщение The Association of Almond and Walnut Growers summed up the 2021 harvest in Georgia появились сначала на EastFruit.

There has been a rather sharp increase in prices for high-quality walnut kernels, by about 10-15 MDL/kg ($0.57-0.85/kg), since the beginning of the last decade of October in Moldova. Trading companies buy large light halves of kernels for exports to the European Union this week at a wholesale price of at least 110-120 MDL/kg ($6.28-6.85/kg). Large batches of American and French varieties of kernels are sometimes even purchased by traders at 125 MDL/kg ($7.13/kg). The maximum price level is already much higher than at the beginning of November last year (about 90 MDL/kg, $5.29/kg).

Nevertheless, according to the members of the Union of Association of Producers of Walnut Crops of Moldova (UAPCN), this is not the limit. They consider prices likely to rise to 140 MDL/kg ($8/kg) by  Christmas. The basis for optimism is the high demand for walnut kernels on the part of exporters and, most importantly, their willingness to raise purchase prices virtually every week.

In this regard, walnut producers note that given insufficient supply of nut kernels, traders began to accept large volumes of nuts in-shells for processing. Their wholesale prices began to rise this week: for in-shell nuts of unpopular local varieties, around 25-30 MDL/kg ($1.42-1.71/kg), the price for large dry in-shell nuts of such varieties as “Peschansky” and “Chandler” reaches 40-45 MDL/kg ($2.28-2.56/kg).

The management of the UAPCN organization believes that given high demand and rapidly growing wholesale prices, about 80-90% of the new walnut harvest will be sold by the end of 2021.

Сообщение Walnut prices have sharply increased in Moldova появились сначала на EastFruit.

The 2021 walnut harvest is delayed by two to three weeks in Moldova. In fact, the real range of their starting wholesale prices was formed only in mid-October. The average price for inshell walnuts at the start of the marketing season was already lower than last year – 25 MDL/kg ($1.43/kg) versus 30 MDL/kg ($1.76/kg), and significantly higher than the level of October 2020 for walnut kernels– 100 MDL/kg ($5.73/kg) versus 85 MDL/kg ($5.0/kg). The starting price level for inshell walnuts and kernels held out for quite long last year – several weeks, whereas this year prices began to change almost immediately after walnuts of new harvest became available on the market. The prices for low-quality walnut are going down, high-quality ones are growing.

According to EastFruit price monitoring, the minimum wholesale price for inshell walnuts on the Moldovan market decreased by about 2 MDL/kg by the end of this month – to 20 MDL/kg ($1.14/kg), while the maximum price level remained almost unchanged – about 30 MDL/kg ($1.71/kg). The minimum and average price level of walnut kernels also did not change in October – 95-100 MDL/kg ($5.44-5.73/kg), but products of better quality rose to 110 MDL/kg ($6.30/kg).

It should be noted that the increase in prices for high-quality walnuts (both kernels and even inshell sometimes) is explained by accelerating of the harvesting in the most technologically advanced walnut farms. In this case, we are talking mainly about walnuts of the varieties “Chandler”, “Fernor”, “Lara”, “Peschansky”, etc. At the same time, nuts of some outdated local varieties (among them, experts note “Kazaku”, “Skinoasa”, “Kostyuzhen”, etc.) are distinguished by both low yield and quality in 2021.

Сообщение High-quality walnuts are becoming more expensive in Moldova появились сначала на EastFruit.

Moldovan company Pomul Regal (Inesti village, Telenesti district) has recently sent the first trial batch (one ton) of inshell walnuts to Malaysia. The buyers are a group of repatriates from Moldova that plans to retail Moldovan honey and nuts to Malaysians through their online store. They will also try to offer these products to local wholesalers. According to Lilian Florea, commercial director of Pomul Regal, the company is also negotiating the supply of walnuts with a potential buyer in India.

The Pomul Regal company was founded in 2010 and planted its first walnut orchards in 2013. The company now has 150 hectares of intensive walnut orchards of the “Chandler” and “Fernor” varieties, as well as its own production of planting material. It plans to expand the total area of ​​the orchard to 200 hectares.

Read also: Moldova exported potatoes to North Macedonia for the first time!

In addition to trying to start regular exports to Asian markets, the company plans to expand the supply of inshell nuts to the EU market this year. The marketing department of Pomul Regal is also working on a model of targeted delivery of vacuum-packed walnut kernels, as well as nut liqueur of its own production to retail consumers in the domestic market of Moldova.

Сообщение Moldova started exporting walnuts to Malaysia появились сначала на EastFruit.