Nut prices driving land value swings (In the News)

Published:

May 16, 2017 — Strong global demand for nuts, including almonds, pistachios and walnuts, had been driving South Valley land values upward since 1999, according to The (Fresno) Business Journal. But with demand for U.S.-grown nuts softening over the past year and a half, values of ag land have rolled back. 

Roland Fumasi, a senior analyst for Rabobank, said, “But we know in the last 18 to 24 months — timing depending on the specific nut crop — those [commodity] prices have dropped by roughly 50 percent … and finally the supply growth in California tree nuts caught up and, in some cases, outpaced the demand. That drove the prices down.” 

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Greg Jones
(916) 797-8218
Gregory.Jones@rabobank.com