Comments on: The Price of Nuts Drives Me Nuts

Question: The Price of Nuts Drives Me Nuts

Xurando — Tue, 16 Sep 2008 15:23:40 -0800

Anyone know why walnuts are so expensive right now? I went to my local healthy store today and non-organic walnuts are now $9.50 a pound. Are speculators involved? I could have sworn six months ago the price was under $5.00.

By: Effigy2000

Effigy2000 — Tue, 16 Sep 2008 15:38:02 -0800

Walnut price forecast rises.

By: Effigy2000

Effigy2000 — Tue, 16 Sep 2008 15:40:58 -0800

Also, this;

"While the crop may be big, there won't be any walnut surplus because the nuts are in short supply, said Dennis Balint, the California Walnut Board's executive director.

"It's a record harvest. However, if we look at what we have for an opening inventory for the new crop year, then what we look at for a total availability is less than what we had for 2006, 2005 or 2004."

The board estimates the 2008 harvest, plus carryover supplies, will add up to 407,000 tons of California walnuts available in the coming year. Balint said that is the lowest such figure since 2002."

By: ssg

ssg — Tue, 16 Sep 2008 15:50:07 -0800

Walnut price forecast rises (in 2006).

By: Frank Grimes

Frank Grimes — Tue, 16 Sep 2008 16:18:00 -0800

As far as I am aware, there is not an exchange that trades walnut futures, so I would doubt that it is due to speculators. Maybe the harvest was not as good, the supply was smaller and prices are higher. Try a regular grocery to see if they have a better price.

By: crunchtopmuffin

crunchtopmuffin — Tue, 16 Sep 2008 16:21:20 -0800

That's how much they cost at regular grocery stores, too. (at least in Colorado)

By: tcv

tcv — Tue, 16 Sep 2008 16:44:34 -0800

I imagine also some of reason is due to high fuel prices. Cat food has gone up at least 25 cents since fuel has skyrocketed. Certainly you need fuel to transport the walnuts to your store, so that has something to do with it.

I'm a cashew man, m'self. ;-)

By: shmooly

shmooly — Tue, 16 Sep 2008 16:47:50 -0800

Tariffs are.

In 2008 imported shelled walnuts were charged 26.5 cents per kilogram, or 58.3 cents per pound. Of course that doesn't make up for it...

By: LobsterMitten

LobsterMitten — Tue, 16 Sep 2008 16:54:49 -0800

With the omega-3 craze in the last few years, maybe demand is higher for plain walnuts, and more manufacturers are putting them into things like cereal, granola bars, etc? (That might explain why there wasn't as much surplus left over from last year)

By: pjern

pjern — Tue, 16 Sep 2008 21:08:30 -0800

Geez, and I've got 1100 lbs of walnuts in the garage... to tag on to this question a related one- how can i get rid of them? Will a food bank want them?

By: gimonca

gimonca — Tue, 16 Sep 2008 21:17:55 -0800

I bought bulk walnuts a few hours ago at a Cub Foods store in Minnesota. $7.99 per pound.

By: salvia

salvia — Tue, 16 Sep 2008 21:42:09 -0800

In the long-range view? Loss of farmland in California.

By: cali

cali — Tue, 16 Sep 2008 22:36:30 -0800

We're less than a month from the annual harvest here in California. This would have to be the lowest point of the year in terms of available stock, which in turn may be affecting prices.