Wednesday, March 12, 2014

February Walnut Shipment Report

Walnut Shipment Report

YEAR TO DATE SHIPMENTS- Shipments through February 28th of 2014 were -0 .5% overall compared to last year.  Total Shipments are 333,020 In-shell equivalent tons.

EXPORT SHIPMENTS- Shipments are up compared to last year. Current year to date export shipments are 230,850 In-shell tons; compared to last year at  229,845 In-shell tons,  representing -0.5%.

DOMESTIC SHIPMENTS- Shipments are down compared to last year at the same time. Current year to date domestic shipments are 102,163 tons; compared to last year at 104,624 In-shell tons, representing - 2.35%.
     U.S. – The domestic market was slightly down for the month of February on kernels and In-shell. Canada was slightly up on their kernel shipments.
     Europe- Once again had strong shipments in both In-shell and shelled categories. Italy and Spain both had terrific shipment numbers. .
     Middle East/Africa – up in both categories for kernels and In-shell and up for the month.
     Asia/Pacific   - Was down on In-shell and up on Kernels. China shipped more kernels than they did last February. Year to date volume for China/Hong Kong is down.

CROP RECEIPTS- Receipts are 488,844 In-shell tons as of February 28th, 2014, which should represent the entire crop.  The CASS Crop Estimate is at 495,000 tons. 

SOLD POSITION- Most industry experts believe the crop is 90-95% sold  or committed.

Demand has been steady from many markets around the world.  China is not as active as last month as they have shifted focus to Chilean walnuts.  

Prices look to remain very firm until new crop due to a lack of inventory in California. Most of the remaining inventory is pallet amounts with limited full container/truckloads of single items remaining. It appears packers are extremely comfortable with their sold position. We do not expect to see any changes in pricing for the remaining inventory of this crop. If prices do move we believe they may increase slightly as we approach the summer months.

WATER-  California has had two excellent storms over the past couple weeks. It has provided much needed water; however, we are still need of much more. It has given temporary relief to farmers and allowed them to shut of their pumps and not irrigate. California is still in a drought situation, one thing to keep in mind is the rain in the recent storms have been warm and provided very little snow pack. Snow pack is essential for summer water needs.

We will continue to keep you updated on new crop as the season progresses.  

Yes.. we've had two storms.... "but!..."  There's always a "but"... isn't there?

We'll try to keep everyone updated.

-Thomas Kim

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