Record increase in the price of Chilean walnuts: climate fault

Since the beginning of March, the price of the Chilean Chandler 80 shelled walnut, delivered to Europe, has recorded an increase of 13%, thus recording a leap of 51% on an annual basis, compared to March 2023. This was announced by Areté, a leading company in the analysis of analysis and forecasting services of agrifood raw materials markets.

From Areté’s analyzes it emerges that what is driving the Chilean market is above all the deterioration of the prospects for the 2024 harvest (which has just begun) which is suffering the effects of unfavorable weather. “The main market operators – they explain to Areté – expect production drops of more than 10%. The prospects of lower supply, in a context of already limited stocks, are met with rigid demand, as evidenced by exports second only to the records of the 2021/22 campaign”.

The premium of Chilean walnuts over those of US origin which instead benefit from a record 23/24 supply, thus reached a multi-year high of around 2,200 dollars per ton in March, according to Areté.

In recent weeks, the record increase in another raw material: cocoa had also made the news. The price had in fact risen significantly due to the impact on the harvest of heavy rains, particularly in Ghana and Ivory Coast.

The prices of processed tomatoes, close to spring transplants in the main production areas, remain stable. This was made known by Areté, a leading company in Italy in the analysis and forecasting services of the agrifood raw materials markets.