Chestnuts market in Latin America and the Caribbean

Earlier Report Observations

From 2018 to 2020, chestnut production in Latin America and the Caribbean showed variability, starting at 87 923 t. Improved growth rates in key producing countries like Peru, Brazil, and Bolivia, along with the emergence of new export destinations such as South Korea, supported output. However, production dipped to 85 534 t in 2019, a year marked by continued strong export growth from the region, which reduced the volume available for the domestic market. A recovery followed in 2020, with production rising to 88 831 t, bolstered by the signing of sanitary protocols with China, which opened a significant new export channel and stimulated farm-level activity.

The period from 2021 to 2023 saw further adjustments. Production eased slightly to 87 823 t in 2021, while the export sector diversified, reaching over 50 international destinations. By 2022, the total market volume stabilized around 83 000 t as shifts in global consumption patterns and an oversupply of inventory in international markets dampened demand and put downward pressure on prices. Production resumed growth in 2023, reaching 88 525 t, supported by new sanitary agreements with China and Bolivia's reinforced position as a global export leader, which provided a stable outlet for regional output.

While full production data for 2024 is not available, export figures surged to 7 533 t, driven by a sharp increase in shipments from Peru and Bolivia. This growth was facilitated by regulatory changes, including the implementation of new sanitary protocols for the Chinese market, which expanded access for Latin American chestnuts in Asia.

Production chestnuts in Latin America and the Caribbean

In kind, 2017-2020, t

Top producers of chestnuts, 2017-2020

World map of production of chestnuts, 2017-2020

In Latin America and the Caribbean, chestnut production reached 88,831 tonnes in 2020, marking a 3.9% increase from 2019. Over the period from 2017 to 2020, production grew by 5.6%, which translates to an average annual growth rate of 1.8%. The most significant decline occurred in 2019, with a drop of 2.7%, while the largest increase was recorded in 2018 at 4.5%.

Annual dynamics of production in Latin America and the Caribbean in kind, 2017-2020, t

Exports chestnuts from Latin America and the Caribbean

Exports in kind, t

Chestnut exports from Latin America and the Caribbean rose for the second year in a row. In 2020, exports totaled 4,562 tonnes, up 2.4% from the previous year. From 2017 to 2020, exports surged by 66.4%, with a compound annual growth rate of 18.5%. The lowest export volume was in 2018 at 2,623 tonnes, which also saw the largest decline of 4.4%. In contrast, the biggest increase happened in 2019, with a jump of 69.9%.

Annual dynamics of product's exports from Latin America and the Caribbean in kind, 2017-2020, t

Between 2017 and 2020, Italy, the United States, and France were the primary destinations for chestnut exports from Latin America and the Caribbean, accounting for 77.5% of total exports in volume. Italy led with 35.9%, followed by the United States at 31.0%, and France at 10.7%.

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

World map of product's exports from Latin America and the Caribbean in kind, 2017-2020

Exports in value, K $ US

The market exhibited volatility during the observed period. Import levels varied significantly, with a 11.8-fold difference between the peak in 2019 and the low in 2017. In 2020, Latin America and the Caribbean exported chestnuts worth $6,105,000, a sharp decline of 80.4% compared to 2019. The highest value was recorded in 2019 at $31,168,000, which also saw the largest increase of 706.9%.

Annual dynamics of product's exports from Latin America and the Caribbean in value, 2017-2020, K $ US

From 2017 to 2020, Spain and Italy dominated the export market in value terms, together making up 81.6% of total flows, with other partners accounting for the remainder.

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

World map of product's exports from Latin America and the Caribbean in value, 2017-2020

Imports chestnuts to Latin America and the Caribbean

Imports in kind, t

Chestnut imports into Latin America and the Caribbean fell for the second consecutive year. In 2020, imports amounted to approximately 738 tonnes, showing a substantial year-over-year contraction of 10.3%. Over the 2017-2020 period, imports increased by 20.9%, with a compound annual growth rate of 6.5%. The peak import volume was in 2018 at 920 tonnes, which also experienced the largest increase of 50.7%. The most significant decline occurred in 2019, with a drop of 10.6%.

Annual dynamics of product's imports to Latin America and the Caribbean in kind, 2017-2020, t

During 2017-2020, nearly all chestnut imports in volume to Latin America and the Caribbean came from Portugal, which held a 92.3% share of total flows.

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

World map of product's imports to Latin America and the Caribbean in kind, 2017-2020

Imports in value, K $ US

Market performance showed notable fluctuations over the period. Imports varied by a factor of 1.8, from a low in 2017 to a high in 2018. In 2020, chestnut imports into Latin America and the Caribbean were valued at $3,135,000, representing a 16.9% decrease from the previous year. The highest value was in 2018 at $4,503,000, which also saw the largest increase of 79.0%.

Annual dynamics of product's imports to Latin America and the Caribbean in value, 2017-2020, K $ US

From 2017 to 2020, chestnut imports to Latin America and the Caribbean were almost entirely supplied by Portugal, which accounted for 94.6% of total imports in value terms.

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

World map of product's imports to Latin America and the Caribbean in value, 2017-2020