Walnuts: buyers turn to China
March 31, 2025 at 11:18 AM ,
Der AUDITOR
Disappointing export season completed
Chile has completed the 2024/2025 season with shelled walnut shipments 14% down and inshell walnut shipments even 29% lower than in 2023/2024. Monthly exports slumped by 60% to 327 mt for shelled walnuts and by 71% to 135 mt for inshell walnuts in February 2025, the final month of the season, as compared with February 2024.
Downturn in shelled walnut export
Chile’s shelled walnut exports to Spain, Germany and Italy show a mixed trend. Shipments to Spain have risen by 13% as compared with the previous season, whereas exports to Germany and Italy have declined by 3% and 21% respectively. While shipments to Europe as a region showed the only uptick for many months in 2024/2025, they ended the season 2% lower at 22,360 mt.
All other regions are showing double digit declines. Exports to America most dipped by 29% to 4,813 mt with Uruguay sporting the only rise of 26%. Shipments to the Middle East and Africa are 48% down at 1,330 mt and have most notably slumped by 58% to 706 mt in Asia and Oceania.
|
Walnut exports, Chile, shelled (mt) |
|||
|
Destination |
2023/24 |
2024/25 |
Diff. |
|
Spain |
4,821 |
5,433 |
12.7% |
|
Germany |
3,748 |
3,619 |
-3.4% |
|
Italy |
4,076 |
3,226 |
-20.9% |
|
Netherlands |
3,117 |
3,019 |
-3.1% |
|
Brazil |
3,903 |
2,044 |
-47.6% |
|
France |
1,882 |
1,818 |
-3.4% |
|
Ecuador |
1,404 |
1,312 |
-6.6% |
|
UK |
774 |
771 |
-0.4% |
|
Uruguay |
528 |
666 |
26.1% |
|
Switzerland |
471 |
630 |
33.8% |
|
Others |
9,166 |
6,672 |
-27.2% |
|
Total |
33,890 |
29,210 |
-13.8% |
|
ChileNut, 21/03-28/02 |
|||
Inshell exports slump
Chile’s inshell exports to India may have dipped by 31% in 2024/2025, yet the country has remained the most important destination by far. Exports to China have even declined by 50% and shipments to Asia and Oceania as a region range 29% lower than in 2023/2024 at 72,978 mt.
Exports to Turkey, Morocco and the United Arab Emirates have also dipped considerably. At 32,310 mt exports to the Middle East and Africa as a whole are 49% down on the previous season.
Contrary to this, shipments to Italy and Spain have risen, which reflects the general trend in Europe as Chile’s exports to the region as a whole are 10% up on 2023/2024 at 18,096 mt. Lithuania has really increased buying in Chile with shipments rising to incredible heights.
Perus is also showing a remarkable uprise in shipments from Chile. This is also in line with the general trend for America as Chile’s exports to neighbouring countries rose by 8% to 2,151 mt in 2024/2025.
|
Walnut exports, Chile, inshell (mt) |
|||
|
Destination |
2023/24 |
2024/25 |
Diff. |
|
India |
48,962 |
33,968 |
-30.6% |
|
Turkey |
23,246 |
10,672 |
-54.1% |
|
Italy |
7,721 |
8,384 |
8.6% |
|
Morocco |
5,373 |
3,969 |
-26.1% |
|
Spain |
3,013 |
3,145 |
4.4% |
|
Lithuania |
17 |
1,645 |
9,576.5% |
|
Germany |
1,358 |
1,378 |
1.5% |
|
China |
2,611 |
1,315 |
-49.6% |
|
UAE |
1,812 |
1,289 |
-28.8% |
|
Peru |
822 |
1,093 |
33.0% |
|
Others |
8,084 |
6,120 |
-24.3% |
|
Total |
103,019 |
72,978 |
-29.2% |
|
ChileNut, 21/03-28/02 |
|||
Prices to stay high
Prospects for this year’s crop may be much more encouraging in Chile this year, yet market sentiments are not quite as upbeat. As the International Nut and Dried Fruit Council has highlighted in the recent Global Statistical Review for Walnuts as based on reports provided by ChileNut production should reach an estimated 168,200 mt. This would mark a 25% rise on last year’s catastrophic crop of 134,576 mt. As the current US production also ranges 27% lower than last season at 542,700 mt and US suppliers will start next season with a smaller inventory no downward price turns are expected in the next few months.
Buyers turn to China with quality less of an issue
China is, in fact, profiting from the high kernel prices in the USA and Chile. Issue is that this development has prompted international buyers to turn to China, especially in Europe. The country’s record output has been relatively firm in recent years with the crop reaching 1.55 million mt in 2024/2025. Buyers are also becoming more approving of the quality of Chinese walnuts. European buyers, for instance, favour Xinjiang walnuts, which are similar in shape to their US counterparts and demand has even outstripped supply this season.
As suppliers in China report Yunnan origin walnuts are nearly sold out. The prices for Xianjing walnuts have been relatively stable in March. With the harvest season nearly over buyers are advised to confirm specifications to avoid misunderstandings as the quality in terms of kernel yield and colour are not quite the same as at the start of the harvest.
|
Walnuts, hand cracked, China |
|
|
Type |
USD/mt |
|
ELH 90% |
5,100 |
|
LH 90% |
4,350 |
|
FOB TIANJIN |
|
View more
- price charts for nuts, dried fruit and oilseeds and more
View related articles
