Walnut
The walnut is the kernel of Juglans regia, the Persian or English walnut, a temperate deciduous tree grown across California, China, Chile, Iran, Turkiye, Ukraine, France, Moldova and Central Asia. The nut grows inside a green husk which is removed at harvest, leaving a corrugated shell that splits into two halves around a two lobed kernel. Trade runs in shell and as shelled kernel. Kernel colour is the dominant value driver because walnut oil darkens with heat, light and age, so a pale kernel signals a fresh, well handled crop. Light halves go to premium retail packing, baking and gifting. Darker and broken grades go into bakery, confectionery, cereal, sauces such as pesto and muhammara, and into pressed walnut oil. Walnut is high in polyunsaturated fat, which makes cold storage and nitrogen or vacuum packing normal practice for anything held beyond a few months.
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Listed walnut markets
Each line is a grade at a delivery point. Open one for its full specification and terms.
Price guarantee on walnut
If a move in the walnut price would hurt you, fix the price now. We agree it today for the months you name, and it holds whatever the market does in between.
| Buying | You use or resell walnut and need to know your cost. We fix your purchase price for the quantity and months you name. |
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| Selling | You grow, produce or hold walnut and need to know your revenue. We fix your sale price ahead of production or shipment. |
| Settlement | Against delivery of the walnut. |
A price is fixed only once a trader confirms it in writing. Request a fixed price.
Caps and floors on walnut
A fixed price binds buyer and seller. A cap or a floor is a guaranteed price on one side only. You pay a fee up front for it, and it is a right, not an obligation: you use it only if the market moves against you.
| Cap | For buyers. A guaranteed maximum price for walnut. If the market is above the cap when you buy, you pay the cap. If it is below, you buy at the market price and let the cap lapse. |
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| Floor | For sellers. A guaranteed minimum price for walnut. If the market is below the floor when you sell, you receive the floor. If it is above, you sell at the market price and let the floor lapse. |
| Fee | Agreed and paid up front. It is the whole cost of the cap or floor, and it is not refunded if the cap or floor goes unused. |
A cap or a floor is in place only once a trader confirms it in writing. Request a cap or a floor.
Grades
A walnut kernel is graded on colour against a physical colour standard, on the size and integrity of the piece, and on moisture and defects. Inshell walnut is graded on shell diameter, shell condition and the kernel it yields.
Kernel colour class
4 grades
| Grade | Definition |
|---|---|
| Extra lightPalest class | The palest kernel. Commands the highest premium and is used for retail halves and visible applications. |
| LightLight class | Slightly darker than extra light, still pale. The standard commercial grade for retail and bakery halves. |
| Light amberIntermediate class | Noticeably darker than light, with an amber cast. Used where the kernel is not the visible element. |
| AmberDarkest marketable class | The darkest class admitted to the standard. Used for oil, paste, sauces and industrial baking. |
Kernel style and size
5 grades
| Grade | Definition |
|---|---|
| HalvesAt least one half of a whole kernel | Kernel pieces each comprising at least one half of a whole kernel, with the contract stating the minimum percentage of halves in the lot. |
| QuartersBroken halves | Pieces smaller than a half but larger than the piece grades, being roughly a quarter of a whole kernel. |
| Large piecesRetained on a stated aperture | Pieces retained on the larger sieve aperture named in the contract, with the maximum passing the smaller aperture also stated. |
| Medium piecesRetained on a stated aperture | Pieces sized between two named sieve apertures. |
| Small pieces and mealPassing the smallest stated aperture | Fine pieces and meal used in bakery, coatings and paste. |
Moisture and defects
4 grades
| Grade | Definition |
|---|---|
| Kernel moistureMaximum 5.0 per cent | Walnut kernel is dried to a maximum of 5.0 per cent moisture. Above this the kernel goes rancid and moulds in store. |
| Inshell moisture, dryMaximum 12.0 per cent | Inshell walnut sold as dry must not exceed 12.0 per cent moisture across nut and kernel. |
| Inshell moisture, freshMinimum 20.0 per cent | Fresh or wet walnut is a separate product with a minimum moisture of 20.0 per cent and a short shelf life. |
| Quality classExtra Class, Class I, Class II | Three classes with progressively wider tolerances for shrivelled, mouldy, rancid, insect damaged and otherwise defective kernel. Living pests are not permitted in any class. |
Inshell size
3 grades
| Grade | Definition |
|---|---|
| Screened diameter bandMinimum diameter in millimetres | Inshell walnut is screened over round hole sieves and the contract names the band, for example 30 mm to 32 mm. A minimum diameter alone may be stated where a lot is sold as a single cut. |
| Shell conditionLight, well sealed, clean | Shell colour, whether the suture is sealed and whether the shell is free of husk stain are stated separately from diameter. |
| Kernel yieldPercentage by weight | The weight of kernel recovered from a cracked sample as a percentage of the inshell weight, used to price an inshell lot against kernel value. |
Grades outside this list trade on request. Send us the contract specification you work to and we will price against it.
Locations
| Country | Region | We trade it as |
|---|---|---|
| China | East Asia | Origin and destination |
| United States | North America | Origin and destination |
| Chile | South America | Origin and destination |
| Iran | Middle East | Origin and destination |
| Turkiye | Europe | Origin and destination |
| Ukraine | Europe | Origin and destination |
| Moldova | Europe | Origin |
| France | Europe | Origin and destination |
| Romania | Europe | Origin and destination |
| Kyrgyzstan | Central Asia | Origin |
| Uzbekistan | Central Asia | Origin and destination |
| Georgia | Caucasus | Origin and destination |
| India | South Asia | Origin and destination |
| Australia | Oceania | Origin and destination |
| Argentina | South America | Origin and destination |
| Mexico | North America | Origin and destination |
| Spain | Europe | Origin and destination |
| Italy | Europe | Destination |
| Germany | Europe | Destination |
| Netherlands | Europe | Destination |
| United Kingdom | Europe | Destination |
| Japan | East Asia | Destination |
| South Korea | East Asia | Destination |
| United Arab Emirates | Middle East | Origin and destination |
| Vietnam | Southeast Asia | Origin and destination |
| Canada | North America | Destination |
Origins and destinations outside this list trade on request. We are not limited to the locations shown here.
Timing
Harvest is when the crop is taken at origin. Arrival is when a shipment from that origin typically lands in a consuming market. The gap between them is processing, grading and the voyage.
HarvestArrival
| Origin | J | F | M | A | M | J | J | A | S | O | N | D | Window |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| United States | Arrival | Arrival | Harvest | Harvest | Harvest and arrival | Arrival | Harvest Sep to Nov, arrival Nov to FebCalifornia harvest from early September to early November, with shipment building through the northern winter. | ||||||
| Chile | Harvest | Harvest | Harvest and arrival | Arrival | Arrival | Harvest Mar to May, arrival May to JulSouthern hemisphere harvest lands into the northern hemisphere gap between crops. | |||||||
| China | Harvest | Harvest | Harvest and arrival | Arrival | Arrival | Harvest Aug to Oct, arrival Oct to DecHarvest from August, with most of the crop consumed domestically. | |||||||
| Kyrgyzstan | Arrival | Harvest | Harvest | Arrival | Arrival | Harvest Sep to Oct, arrival Nov to JanWild walnut forests in the Jalal-Abad region are gathered from September. | |||||||
| Ukraine | Harvest | Harvest and arrival | Arrival | Arrival | Harvest Sep to Oct, arrival Oct to DecHarvest from September, shipping largely into the European Union and the Middle East. | ||||||||
| Moldova | Harvest | Harvest and arrival | Arrival | Arrival | Harvest Sep to Oct, arrival Oct to DecHarvest from September, sold predominantly as kernel into Europe. | ||||||||
| Turkiye | Harvest | Harvest and arrival | Arrival | Arrival | Harvest Sep to Oct, arrival Oct to DecDomestic harvest from September, with Turkiye also a large importer of inshell for cracking. | ||||||||
| France | Harvest | Harvest and arrival | Arrival | Arrival | Harvest Sep to Oct, arrival Oct to DecGrenoble and Perigord harvest from late September under protected origin rules. | ||||||||
| India | Harvest | Harvest | Harvest and arrival | Arrival | Arrival | Harvest Aug to Oct, arrival Oct to DecKashmir harvest from August, sold as inshell and as kernel. | |||||||
| Australia | Harvest | Harvest | Harvest and arrival | Arrival | Arrival | Harvest Mar to May, arrival May to JulRiverina harvest in the southern autumn. |
Windows outside this pattern trade on request, including carry, forward positions and stock already sitting in a destination warehouse.
Customs, packing and contract terms
Indicative terms for walnut. Tariff classification is the importer’s responsibility and limits change, so confirm both against the destination customs authority and the current regulation before you fix a contract.
- HS heading0802.31 Walnuts, in shell
0802.32 Walnuts, shelled - PackingIn shell in jute or PP woven bags of 25 kg to 50 kg. Kernels vacuum packed in cartons or tins of 10 kg to 25 kg, nitrogen flushed for high oil content nuts. Moisture at pack is the specification that decides shelf life.
- Container loading20ft: 14 t to 19 t. In shell is weight limited, kernel is volume limited. Reefer at 5 to 10 degrees Celsius for long transits on high oil kernels.
- Contract and arbitrationINC quality standards with the Dried Fruit and Edible Nut trade contract in Europe, arbitration in London, and Association of Food Industries contracts with AFI arbitration for United States trade.
- Destination limitsEU aflatoxin limits under Regulation 2023/915, being 2 ug/kg B1 and 4 ug/kg total for ready to eat nuts and higher where the lot is to be sorted before consumption. Salmonella controls, and increased official controls under Regulation 2019/1793 for several origins. US FDA action level of 20 ug/kg total aflatoxin.
Common questions
What grades of walnut does SIP Global trade?
We quote 16 published grades of walnut, including Extra light - Palest class, Light - Light class, Light amber - Intermediate class, Amber - Darkest marketable class, Halves - At least one half of a whole kernel and Quarters - Broken halves. Every grade is tied to a delivery point and a settlement route. Grades outside the published list are priced on request.
How is walnut graded?
A walnut kernel is graded on colour against a physical colour standard, on the size and integrity of the piece, and on moisture and defects. Inshell walnut is graded on shell diameter, shell condition and the kernel it yields. Grading runs on 4 systems: Kernel colour class, Kernel style and size, Moisture and defects and Inshell size.
Where does SIP Global trade walnut?
We trade walnut in China, United States, Chile, Iran, Turkiye, Ukraine, Moldova and France and 18 further markets. Origins and destinations outside this list trade on request. We are not limited to the locations shown.
When is walnut harvested and when does it arrive?
Typical windows are United States: harvest sep to nov, arrival nov to feb; Chile: harvest mar to may, arrival may to jul; China: harvest aug to oct, arrival oct to dec; Kyrgyzstan: harvest sep to oct, arrival nov to jan; Ukraine: harvest sep to oct, arrival oct to dec. Harvest is when the lot is taken at origin, arrival is when a shipment from that origin lands in a consuming market. Windows outside this pattern, including carry, trade on request.
What is the HS code for walnut?
Walnut is normally classified under HS 0802.31 (walnuts, in shell) and HS 0802.32 (walnuts, shelled). The heading follows the form the goods are in at the border, and national tariffs extend it beyond six digits, so confirm the full line with the destination customs authority before you fix a contract.
Can I fix a walnut price ahead?
Yes. SIP Global fixes a walnut price ahead for buyers and for sellers, as a price guarantee. Send the grade, the quantity and the months you need covered. We settle against delivery, and a price is fixed only once a trader confirms it in writing.
How do I get a price for walnut?
Send the grade, the origin and the delivery window to SIP Global. That is enough for a trader to come back with a level and a settlement route. 13 listed walnut markets are published on this page, each with its full specification and terms. We buy and sell the physical cargo, prompt to long dated.
Standards and data sources
The grading language on this sheet follows published standards. Trade volumes and tariff lines are public record. Verify anything here against the source.
- UN Comtrade (opens in new tab)Official international trade statistics by HS code
- ITC Trade Map (opens in new tab)Bilateral trade flows and tariff data
- FAOSTAT (opens in new tab)FAO production and trade series for agricultural commodities