Pine nuts: EU spends much less
February 27, 2024 at 8:24 AM ,
Der AUDITOR
EU import value 41% down
EU annual imports declined by 3% to 8,879 mt in 2023 in terms of volume as compared with 2022, this is, however, overshadowed by the 41% slump in value to EUR 152 million (USD 165 million). China remained the most important supplier for the EU in 2023 and shipments rose by 9%. Imports from Turkey even climbed by 26%. While the sharpest decline was seen in shipments from the UK (-55%) and Russia (-52%), shipments from Kazakhstan surged by nearly 7,000%. Germany accounted for 50% or 4,480 mt of the EU’s total imports in 2023, followed by Italy with 16% (1,440 mt) and the Netherlands with 9% (805 mt).
Imports have continued to slide this year so far as the EU only imported 1,278 mt of pine nuts worth EUR 21 million (USD 23 million) between 01 January and 20 February. This is 32% and 42% down respectively on the 1,887 mt worth EUR 35 million (USD 38 million) imported in the same period last year. China has shipped 999 mt to the EU this year so far, followed by Russia with 151 mt and Turkey with only 1 mt this year so far.
|
EU pine nut imports (kg) |
|||
|
Country |
2022 |
2023 |
Diff. |
|
China |
6,496,365 |
7,054,058 |
8.6% |
|
Russia |
1,762,535 |
845,845 |
-52.0% |
|
Turkey |
339,366 |
428,229 |
26.2% |
|
Mongolia |
301,600 |
230,000 |
-23.8% |
|
Kazakhstan |
2,850 |
195,205 |
6,749% |
|
Pakistan |
92,999 |
56,544 |
-39.2% |
|
Afghanistan |
45,559 |
30,413 |
-33.3% |
|
UK |
27,033 |
12,056 |
-55.4% |
|
EU |
69 |
10,311 |
14,943% |
|
Lebanon |
7,213 |
8,135 |
12.8% |
|
Others |
57,547 |
8,774 |
-84.8% |
|
Total |
9,133,136 |
8,879,540 |
-2.8% |
|
DG TAXUD Customs Surveillance, provisional data |
|||
Uncertain market conditions in 2024
Producers in Portugal are promoting Mediterranean pine nuts as high-quality alternative to Chinese, Russian or Mongolian varieties. They also stand a better chance than their colleagues in Spain to raise production in the next few years as weather conditions are not quite as extreme. Spain is suffering from a prolonged period of drought, which is expected to weigh on production. Traders also report that cedar raw material prices are holding firm in China but have risen in Russia. Mongolia is floating the idea of raising export permit fees for cedar raw materials. As everything is pointing towards a reduced cedar crop this year pine nut kernel supplies may also be impacted. Much will, however, also depend on demand as well as exchange and ocean freight rates.
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