Farmers issue warning as prices skyrocket for staple food item: 'Shift in market dynamics'

Over the past year, irregular weather conditions have caused the American walnut supply to plummet while consumer demand remains high. As a result, ever since the summer of 2024, walnut prices have skyrocketed.

What's happening?

In March, Expana released a graph charting walnut production against its price over the past four years. Due to the recent decline in production, the price of walnuts per pound has exceeded $4 for the first time since 2021. 

Although production and sales flourished into early 2024, farmers have since been unable to keep up with rising walnut demand, per FreshPlaza. Thanks to the record-high temperatures last summer and the La Niña weather patterns this winter, walnut production for the 2024-2025 season is 11% lower than the USDA forecast in September.

Farmers have also reduced their acreage for walnuts — especially in California, which once contributed more than half the world's walnuts.

"From September 2023 to August 2024, growers in the Golden State have removed approximately 18,000 acres with nearly 10,000 more acres under high stress and abandoned," reported Terrain Agriculture.

Why is the recent walnut shortage concerning?

As walnuts remain scarce, their prices have inflated to push back against the climbing demand. They now sell for over $4 per pound as of February, Expana recorded, up from around $2.25 a year ago. 

"The shift in market dynamics has been sizable enough that the price has risen steadily for nearly a year," Terrain Agriculture elaborated. 

According to the DFA of California, the walnut industry yields over $1 billion annually for California revenue. Consequently, walnut shortages could reflect in the state's overall economy, leading to budget cuts and job insecurity in the agricultural sector.

The walnut crisis is only a symptom of the greater progression of climate change, however, and walnuts aren't the only crop to suffer. At an international scale, plums, potatoes, and soybeans are also feeling the effects of rising temperatures, among many others to varying degrees.

What's being done about the impact of climate change on our food supply?

To protect our food supply, researchers are looking into drought-friendly agricultural methods and weather-resistant crops such as chickpeas that can sustain our human population even as the planet becomes warmer. If you want to avoid lofty grocery prices altogether over the coming years, growing your own food can help.

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Since carbon dioxide pollution is clogging up our atmosphere and driving temperatures higher by holding in more heat like a thin blanket, policies and technologies that foreground renewable energy are key to mitigating global warming. From international climate projects to local anti-fuel initiatives to the appliances in your own home, every eco-conscious decision can add up.

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