Market Update---Week 20

Pumpkinseeds：The price of pumpkin seeds has been gradually increasing since last week. Currently, there are approximately 120,000 tons of shineskin inventory in the market, with the majority of the raw material held by speculators, while farmers have almost none. GWS pumpkin seed stocks are limited to only 5,000–6,000 tons, all of which are controlled by speculators.With the U.S. reducing tariffs on Chinese goods, these speculators are using the opportunity to drive up prices. Domestic demand has been relatively strong recently, but international demand remains weak. Most buyers prefer to wait until the market stabilizes before making purchases.The planting area for the new crop is expected to decrease by around 30%, and prices in the new season are projected to be USD 150/ton higher than current levels.Organic pumpkin seeds are in very limited supply, and their prices are also rising.

Pine nut: Chinese red pine nuts prices have reached very low levels. Considering the yield may decrease next year, price could rise $1,000-2,000/ton. However, Cedar prices are expected to remain firm between now and the new crop season. With projected yield increases in the new season, cedar prices may potentially decline by $1,000-2,000/ton after November.

Walnut: The inventories are nearly depleted. With rising temperatures affecting raw materials quality, we recommend waiting for the new crop.

Freight: Due to the impact of U.S. tariff policies, freight rates have increased across most routes except for Southeast Asia lanes. The rates of North America routes even doubling.