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Walnut prices rise in Moldova

From the second week of November, a noticeable rise in prices for walnut kernels began on the Moldovan market. Since mid-October, the average price for better quality products – light halves of kernels – has been relatively stable at 85 lei/kg ($4.97/kg), which is 15% lower than the same period in 2019. However, last week, prices for large (tons) consignments of this product in the central regions of the country increased on average to 95-100 lei/kg ($5.55-5.84/kg). That is, they almost reached the level of last year.

Specialists from the Union of Nut Growers consider the recent increase in prices for walnut kernels unexpected, as “many walnut growers have already begun to get used to the idea that this season the level of prices for walnuts will be lower than last year”. But there are quite a few ideas as to why the situation began to develop according to a scenario more favorable for walnut growers.

Read also: Citrus fruits dropped sharply in Moldova

Some EastFruit reporters believe the main reason for a rise in prices for walnut kernels is the classic swing: lower yield – higher prices. The harvest, according to preliminary estimates of experts from the branch union, is in fact at least 40% lower than last year (about 32,000 tons of nuts in shell).

Another often cited reason for the November rise in prices were hot contracts of large traders for the supply of products to regular customers-buyers from the European Union. The exporters themselves claim that there are few such contracts, but they intend to fulfill them carefully so as not to lose the established partnership. Therefore, traders are forced to increase purchase prices, despite the risks of losses. In general, we can say that walnut producers, holding back sales, endured and won.

One last factor influencing the increase in purchase prices is the depreciation of the Moldovan leu against the euro. In such a situation, some exporters considered a more reliable strategy to convert the weakening leu into a commodity and hope for its rise in price on foreign sales markets.

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