Walnuts: market developments in Eastern Europe

January 10, 2020 at 2:14 PM , Der AUDITOR
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KIEV/MOSCOW. Ukraine's export activity has a strong influence on domestic prices. Exports in 2019 have significantly exceeded expectations.

Price increases lead to low demand

The export of walnuts from Ukraine usually reaches its peak in November, after which it begins to decline. The lowest export level is observed annually in July-September. This marketing year has seen such large export volumes that Ukrainian sellers have systematically increased prices in the first two weeks of December. This resulted in lower demand. As a consequence, prices began to decline noticeably again, dropping to USD 6.47 per kg on New Year's Eve.

Extremely high export volumes

The new crop in Ukraine exceeds the expectations of market players, which has a positive effect on export volumes. Walnuts accounted for more than half (51%) of the total export earnings of the fruit and vegetable sector of Ukraine in November 2019. In November, walnut exports earned USD 28.8 million, which is 33.3% more than in November 2018. Overall, the export volume in the first two months of the 2019/20 season (October-November 2019) increased by 75% compared to the year before.

Rising prices also in Russia and Moldova

In neighbouring Russia, the rising demand allowed sellers to raise trade prices significantly, resulting in a new price record of USD 9.39 per kg. In addition, prices in Moldova increased by USD 0.59 per kg to USD 5.20 per kg within the last two weeks.

Walnuts, Eastern Europe, CPT

Country

Price in USD/kg
(until 15 Dec 2019)

Price in USD/kg 
(until 1 Jan 2020)

Ukraine

7.20

6.47

Moldova

4.61

5.20

Russia

8.70

9.39

Trade sources

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