America’s tree nut value drops as production hits a high
When global diet trends began leaning towards healthier snacks and paleo options (not to mention dairy-free milks), American-based nut farmers responded by planting more saplings. These trees took half a decade to bear fruit, with the expectation that more than half the crop would be exported. Now these hearty harvests of almonds, walnuts, and pecans are ready for sale, but international exports are down—as are nuts’ value—as much as 25 percent. Though the U.S. still remains the world’s largest producer, American nuts appear to have lost their allure. “We’re nervous, especially for next year, with where prices are,” one walnut farmer told Bloomberg. “They could get below the cost of production.” (Also, cheers for introducing us to the term “nut glut.”)
