Pressure on Prices Due to Excess Supply

Old walnut stock has accumulated significantly in the producing markets, including Delhi. With the new crop expected to arrive in about two months, selling pressure has increased, completely ending any bullish sentiment. Prices are likely to fall by $0,48-$0,60 per kg before the new stock arrives.

According to the latest survey report, old stock in the markets of the snowy and mountainous areas of Jammu and Kashmir is 22-23 percent higher this year. Due to a shortage of money and the readiness of the crop, stock goods are being sold rapidly. As a result, Kashmiri walnuts, which were sold at $3,12-$3,48 per kg wholesale, are now quoted at $2,76-$3,36 per kg. Lower quality goods are being sold for $1,80-$1,92 per kg.

High Imports and Decreased Consumption

There is a huge stock in all markets, including Ishwar Bhawan, Gadodia Market, Tilak Bazaar, Pedan, and Gali Medgaran of the local market Khari Baoli. Chilli walnuts were available to importers at lower prices due to tremendous production there. Leading to a 26-27 percent increase in imports compared to the same period last year. These goods are also stuck due to low customer demand.

The main reason for low demand has been the lack of weddings in May and June, resulting in a 27 percent decrease in walnut consumption. Kashmiri walnuts are quoted between $2,70-$4,20 per kg, and Chilli walnuts between $4,80-$5,40 per kg.

Predicted Price Drop Before New Crop Arrival

Walnut kernels are being sold at lower prices, with cheaper kernels at $7,20-$8,40 per kg and higher quality kernels up to $10,80-$11,40 per kg. With the new crop expected soon, stockists are trying to sell their goods at any price, causing market recession.

The new crop is anticipated to be good, and with falling prices of Chilli walnuts, prices may decrease further by $0,48-$0,60 per kg, depending on quality.

The abundant old stock and the impending arrival of the new crop have put significant pressure on walnut prices. With low demand and increased imports, prices are expected to drop further. Traders and stockists are rushing to sell their goods before the new crop arrives, leading to a continued bearish market.