Expect to Pay Much More for Walnuts | Global AgInvesting

Expect to Pay Much More for Walnuts

Expect to Pay Much More for Walnuts

California’s walnut crop is expected to be slightly smaller than that of 2012.  Although the nuts this year were found to be above average size, and 4% more acreage is being harvested this year than last, experts found a record low number of 1,239 nuts per tree – down 10% from last year’s 1,375 nuts per tree.  According to the U.S. Department of Agriculture’s National Agricultural Statistics Service this year’s harvest is expected to be 495,000 tons compared to last year’s 497,000 tons. Even though the crop is still in the top three crops on record, demand, especially from Asia is expected to be even greater.  As a result prices for both in-shell and shelled walnuts are expected to be significantly higher with an increase of 50 cents per pound for in-shell walnuts and 70 cents per pound for shelled.

 

Read the article

To receive relevant news stories with summaries provided by GAI Research & Insight, subscribe to Global AgDevelopments, our free bi-weekly enhanced eNews service