Replacement costs of bulk walnut cargoes hit new highs early in the last quarter of 2013 but seem to have peaked, falling by around 4-5% going into mid-December Nothing seems to have improved on the supply side, leading some to suggest buyers are starting to lose enthusiasm for a product whose cost has shot up over 10% this year and as much as 25% since late 2011. However; two factors are still propping up demand for walnuts: one is their "heart-healthy" image as a fruit alternative to cod-liver oil; the other is growth in spending power in developing countries, whose consumers had not got used to cheap walnuts before the demand boom pushed prices up. That applies particularly to China, which is a huge producer in its own right with a long history of walnut consumption.
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