The Californian $1 billion walnut industry is gearing up for its busiest shipping season. However, farmers have started the new marketing year with a massive backlog of product as they prepare to harvest what could be a bumper crop.
The dilemma stems from supply-chain bottlenecks that have cut into both foreign and domestic shipments, costing California producers an estimated $1.3 billion in lost wholesale value this year alone. The logistical troubles, including massive container ship congestion at the Port of Oakland, risk handing export rivals like Chile and China a competitive edge. The industry also has had to contend with angry customers and plummeting prices.
Source: bnnbloomberg.ca