Walnuts: sharp downturn in exports

February 3, 2025 at 11:23 AM , Der AUDITOR
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SANTIAGO. Europe is the noted exception for Chile’s walnuts. The country’s exports are showing mixed trends. Hope is that the current supply situation will improve.

Europe as exception

Europe is the only region to which Chile’s exports have risen as the December report issued by ChileNuts shows. Inshell exports are 12% up at 17,921 mt and shelled walnut shipments are 2% up at 21,522 mt for March to December 2024 as compared with the same period in 2023. Exports to all other regions have taken a hit with shelled walnut shipments to Asia and Oceania most notably 61% down and inshell shipments ranging 28% lower. Exports to the Middle East and Africa are 47% down for inshell and shelled walnuts and to America 29% down for shelled walnuts. Inshell shipments to America have flatlined. December also underperformed as monthly shipments slumped by 43% for inshell walnuts and by 29% for shelled walnuts as compared with December 2023.

Mixed trends for shelled walnuts

Chile’s total shelled walnut exports have declined by 11%. Yet, trends are very mixed in amongst the top ten destinations. While shipments to Italy, Brazil and Portugal have declined sharply, the opposite is the case in many European countries. Exports to the leading destination Spain have, for instance, increased by 8%. Germany is even sporting a 15% rise.

Walnut exports, Chile, shelled (mt)

Destination

2023

2024

Diff.

Spain

4,739

5,128

8.2%

Germany

3,036

3,496

15.2%

Italy

4,004

3,144

-21.5%

Netherlands

2,795

2,957

5.8%

Brazil

3,596

1,927

-46.4%

France

1,646

1,667

1.3%

Ecuador

1,261

1,225

-2.9%

UK

754

738

-2.1%

Switzerland

449

600

33.6%

Portugal

687

589

-14.3%

Others

8,278

6,328

-23.6%

Total

31,245

27,799

-11.0%

ChileNut, 21/03-31/12

Sharp downturn for inshell walnuts

For inshell walnuts the downturn is more pronounced. Exports have, in fact, slumped by 28%. Shipments to the most important destination India have declined by 29%. Turkey is showing an even sharper decline of 54%. Contrary to this, exports to Italy are 8% up.

Walnut exports, Chile, inshell (mt)

Destination

2023

2024

Diff.

India

48,046

33,923

-29.4%

Turkey

22,905

10,541

-54.0%

Italy

7,721

8,362

8.3%

Morocco

5,353

3,969

-25.9%

Spain

2,993

3,145

5.1%

Lithuania

17

1,522

8,852.9%

Germany

1,358

1,378

1.5%

UAE

1,812

1,289

-28.8%

China

2,611

1,315

-49.6%

Peru

822

1,013

23.2%

Others

7,562

6,011

-10.5%

Total

101,200

72,468

-28.4%

ChileNut, 21/03-31/12

Chile to boost supplies

With the new export season about to start in March, hope is that arrivals from Chile will help to ease the current tight supply situation. Issue is that US production has fallen short of expectations. While the USDA still anticipated an inshell crop size of 607,814 mt in September, more recent producer estimates rather range at 580,000-600,000 mt. Projections for Chile stood at a record 195,000 mt in September. This will be 11% up on the current crop for which weather conditions were far from ideal. So far no reports about weather-related damages have emerged.

 

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