Chestnuts market in China

Earlier Report Observations

From 2018 to 2020, the chestnut market volume in China fluctuated under the influence of weather conditions and macroeconomic factors. In 2018, unfavorable weather in Qianxi region led to a reduced harvest, tightening supply and contributing to price increases. The following year, local price stabilization programs in Huairou aimed to mitigate fluctuations, but market volume fell to 1,476 thousand tons due to lower production. The COVID-19 pandemic in 2020 altered the landscape: although national chestnut production increased, movement restrictions and reduced consumer demand subdued market activity, and export flows faced disruptions, causing the market value to drop to $3,165 million despite a slight rise in physical volume to 1,503 thousand tons.

In subsequent years, extreme weather events became the dominant driver. Severe heat and drought in 2022 triggered a sharp decline in harvests in southern China, where purchases fell to one-tenth of usual levels, while northern regions also suffered from alternate bearing cycles. This supply contraction led to record price increases, driving the market value up to $3,268 million even as physical volume decreased to 1,494 thousand tons. In 2023, early spring drought in Qianxi resulted in smaller nut sizes and lower prices compared to the previous year, explaining the sharp drop in market value to $2,760 million alongside a further reduction in volume to 1,484 thousand tons. Concurrently, the industry saw intensified competition and branding growth, with increased investment in deep processing and product diversification, such as chestnut flower perfume and mushrooms, gradually reshaping the market landscape.

Production chestnuts in China

In kind, 2017-2020, K t

From 2017 to 2020, China maintained its position as the world's leading producer of chestnuts by volume.

Top producers of chestnuts, 2017-2020

World map of production of chestnuts, 2017-2020

China's chestnut production rebounded after a two-year decline. In 2019, production hit its lowest point at 1 509 thousand tonnes, but it increased by 1.9% in 2020 to reach 1 539 thousand tonnes. The most significant drop occurred in 2018, with a 1.9% decrease.

Annual dynamics of production in China in kind, 2017-2020, K t

In value, 2017-2020, M $ US

Chestnut production in China experienced a third consecutive year of decline in value terms. In 2020, the output was valued at 3 238 million US dollars, a slight decrease of 1.5% from the previous year. Over the 2017-2020 period, production fell by 4.6%, with a compound annual growth rate of -1.5%.

Annual dynamics of production in China in value, 2017-2020, M $ US

Exports chestnuts from China

Exports in kind, t

China's chestnut exports declined after two years of growth. In 2019, exports peaked at 39 836 tonnes, with the largest increase of 9.6% recorded that year. However, in 2020, exports dropped by 2.4% to 38 897 tonnes. Overall, from 2017 to 2020, exports grew by 14.7%, equivalent to an annualized rate of 4.7%.

Annual dynamics of product's exports from China in kind, 2017-2020, t

Between 2017 and 2020, Thailand, Asia (not elsewhere specified), and Vietnam were notable buyers of Chinese chestnuts, accounting for 13.7%, 11.3%, and 9.9% of exports in kind, respectively. However, their combined share of 35.0% did not dominate the export market.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from China in kind, 2017-2020

Exports in value, K $ US

Chestnut exports from China in value terms declined after two years of increase. In 2019, exports reached their highest value at 86 794 thousand US dollars, with the largest rise of 10.4% occurring that year. In 2020, exports fell by 5.7% to 81 854 thousand US dollars. Over the 2017-2020 period, exports grew by 11.5%, translating to an annualized rate of 3.7%.

Annual dynamics of product's exports from China in value, 2017-2020, K $ US

The export structure in value terms from 2017 to 2020 was diversified. Thailand, Asia (not elsewhere specified), and Vietnam accounted for 17.5%, 14.0%, and 12.4% of exports, respectively, totaling 43.9%. No single country held a clearly dominant position in the market.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from China in value, 2017-2020

Imports chestnuts to China

Imports in kind, t

China's chestnut imports declined for the third consecutive year in volume terms. In 2020, imports amounted to 3 537 tonnes, a sharp decrease of 47.2% from the previous year. Over the 2017-2020 period, imports dropped by 61.9%, with a compound annual growth rate of -27.5%.

Annual dynamics of product's imports to China in kind, 2017-2020, t

From 2017 to 2020, South Korea was the leading supplier of chestnuts to China, accounting for 87.9% of total imports in kind. The remaining imports were distributed among many other countries.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to China in kind, 2017-2020

Imports in value, K $ US

China's chestnut imports in value terms declined for the third year in a row. In 2020, imports totaled 8 433 thousand US dollars, down 36.2% from the year before. Over the 2017-2020 period, imports decreased by 61.9%, with a compound annual growth rate of -27.5%.

Annual dynamics of product's imports to China in value, 2017-2020, K $ US

Between 2017 and 2020, China's chestnut imports in value terms were heavily concentrated, with South Korea and Japan together accounting for 99.3% of total flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to China in value, 2017-2020