Mar 2, 2021Five-year walnut market outlook released by RaboResearch Food & Agribusiness
Global walnut production and exports will set records during 2020/21, impacting the U.S. market as it relies heavily on exports. U.S. production is at record levels but will likely remain in check due to lack of price incentives.
A new report provides production and price estimates for the next five years.
Rabobank’s RaboResearch Food & Agribusiness unit reported U.S. exports are estimated to continue to grow in the next five marketing seasons, but the challenge of boosting domestic demand continues.
“Maintained high-quality product, research, innovation and marketing are needed to enable the US walnut industry to continue surmounting international competition in the walnut market, and increased competition in the tree nut space,” according to David Magaña, fresh produce and tree nuts senior analyst.