US, Chile Big Winners As Kashmir Walnuts Lose Crunch

Uncertainty in Kashmir has made the cross-continental journey of walnuts and apples from the US or Chile a better deal for many traders despite sky-high tariffs because militants in the valley have attacked fruit-laden trucks, while restrictions on the Internet have made buyer-seller communication difficult. This is great news for US suppliers, who feared losing business as India imposed retaliatory tariffs on several commodities including walnuts and almonds after the Trump administration withdrew trade concessions for the country. Traders said imports would rise because domestic supply of walnuts has fallen by a third, while demand is strong. In the case of apples, a clear picture on the extent of supply disruption from Kashmir would emerge next month, they said. “This year, walnut crop in the country is 30-35% less than last year’s 23,000 tonnes,” said Gunjan Jain, managing director of VKC Nuts. “The harvest from Kashmir valley was delayed and crop was even left to rot by farmers, due to supply disruptions caused by curfew-like restrictions imposed in Jammu and Kashmir.”