Chestnuts market in South America

Earlier Report Observations

From 2018, the chestnut market in South America saw its production volume stabilize near 88,000 t annually. The initial output in 2018 was supported by a rebound in Brazil's production following a severe drought the previous year, which had constrained supply. During this period, Bolivia also achieved a historic export record, and Peru facilitated its first direct export of organic chestnuts to Italy, strengthening international market ties for the region.

The market demonstrated resilience during the global COVID-19 pandemic in 2020, with production increasing slightly despite reported international trade and freight cost challenges. In the following years, concerted efforts by Brazilian companies and cooperatives to add value and promote exports, alongside sustained export growth from Bolivia, helped maintain stable production levels through 2022.

By 2023, production experienced a modest uptick. This growth was concurrent with Peru solidifying its position as the world's third-largest chestnut exporter. Furthermore, Chilean companies, such as Marrón Andino, significantly expanded their footprint by tripling export volumes to European markets, contributing to the regional market's expansion.

Production chestnuts in South America

In kind, 2017-2020, t

Top producers of chestnuts, 2017-2020

World map of production of chestnuts, 2017-2020

In 2020, South America produced 88 831 tons of chestnuts, marking a gradual increase of 3.9% compared to 2019. Over the 2017-2020 period, production grew by 5.6%, with a compound annual growth rate of 1.8%. The largest decline occurred in 2019 at 2.7%, while the biggest increase was recorded in 2018 at 4.5%.

Annual dynamics of production in South America in kind, 2017-2020, t

Exports chestnuts from South America

Exports in kind, t

Chestnut exports from South America increased for the third consecutive year. In 2020, exports totaled 3 175 tons, representing a moderate year-over-year growth of 6.5%. From 2017 to 2020, exports surged by 164.5%, with a compound annual growth rate of 38.3%.

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

Between 2017 and 2020, Italy, France, and Spain were the top buyers of chestnuts from South America, accounting for 56.7%, 15.1%, and 14.3% of exports in kind, respectively. Together, these three countries represented 86.1% of total exports in kind.

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

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

Exports in value, K $ US

The market exhibited significant volatility during these years. Exports varied by a factor of 17, from a low in 2017 to a high in 2019. In 2020, chestnut deliveries from South America amounted to 5 093 thousand US dollars, an 83.2% decrease compared to the previous year. The maximum value was recorded in 2019 at 30 356 thousand US dollars, with the largest increase that year at 824.5%.

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

From 2017 to 2020, Spain and Italy dominated the market for exports in value terms, jointly accounting for 88.1% of total flows, while other countries made up the remaining share.

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

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

Imports chestnuts to South America

Imports in kind, t

Chestnut imports to South America declined for the second consecutive year. In 2020, South America imported 728 tons of chestnuts, a 9.9% decrease compared to the previous year. Between 2017 and 2020, imports increased by 23.9%, equating to an annualized growth rate of 7.4%. The maximum volume was recorded in 2018 at 893 tons, with the largest increase that year at 51.9%.

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

Between 2017 and 2020, Portugal remained the overwhelmingly dominant supplier of chestnuts to South America, accounting for 94.6% of total imports in kind.

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

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

Imports in value, K $ US

The data reveals irregular changes, indicating a volatile market environment. Import volumes varied 1.8 times, from a low in 2017 to a high in 2018. In 2020, imported chestnut volumes in South America totaled 3 104 thousand US dollars, showing a strong year-over-year contraction of 16.4%. The maximum value was recorded in 2018 at 4 370 thousand US dollars, with the largest increase that year at 77.5%.

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

From 2017 to 2020, imports in value terms of chestnuts to South America were almost entirely tied to Portugal, whose share amounted to 96.5% of total flows.

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

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