In-shell walnuts market in Central America

Earlier Report Observations

The market for in-shell walnuts in Central America showed considerable volatility between 2018 and 2023. After starting at 162.3 thousand tons in 2018, market volume fell to 143.0 thousand tons the following year. It then rebounded strongly to 175.3 thousand tons in 2020, only to drop again in 2021 to 151.9 thousand tons. The market reached its peak in 2022 at 195.7 thousand tons before contracting to 168.5 thousand tons in 2023.

These swings were accompanied by shifts in trade flows. A sharp rise in exports to 78.2 thousand tons in 2019 contributed to reduced domestic availability, while a simultaneous contraction in both imports and exports in 2021 aligned with the smaller market size that year. By 2024, import volume had recovered to 26.5 thousand tons. This occurred amid a reported global shortage of in-shell walnuts and high international demand, which placed pressure on supply and influenced regional prices, as seen in Costa Rica where wholesale prices for Brazilian nuts ranged from $3.70 to $5.05 per kilogram.

Production in-shell walnuts in Central America

In kind, 2017-2020, K t

Top producers of in-shell walnuts, 2017-2020

World map of production of in-shell walnuts, 2017-2020

Central America's in-shell walnut production declined after two years of growth. In 2020, the region produced 164.7 K t of in-shell walnuts, marking a 3.9% decrease from the previous year. Production increased by 11.9% between 2017 and 2020, which translates to an annualized growth rate of 3.8%. The peak production was recorded in 2019 at 171.4 K t, with the largest annual increase occurring in 2018 at 8.4%.

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

In value, 2017-2020, M $ US

In-shell walnut production in Central America declined for the second consecutive year. In 2020, the output was valued at 508.1 M $ US, showing a slight year-over-year loss of 1.7%. Over the period from 2017 to 2020, production increased by 8.6%, with a compound annual growth rate of 2.8%. The highest value was recorded in 2018 at 599.5 M $ US. The largest decline occurred in 2019 at 13.8%, while the largest increase was in 2018 at 28.2%.

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

Exports in-shell walnuts from Central America

Exports in kind, t

Central America's in-shell walnut exports declined after a two-year advance. In 2020, the region exported 40 555 t of in-shell walnuts, indicating a 48.1% reduction compared to the previous year. The maximum export volume was recorded in 2019 at 78 213 t, with the largest increase occurring that same year at 64.6%.

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

From 2017 to 2020, the export structure for in-shell walnuts was heavily centered on the United States, which accounted for 70.9% of total flows. Other markets played a less significant role during this period.

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

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

Exports in value, M $ US

In-shell walnut shipments from Central America declined after a two-year uptick. In 2020, exports stood at 125.1 M $ US, equivalent to a 47.0% reduction compared to 2019. Between 2017 and 2020, exports decreased by 4.3%, with an annualized rate of decline of 1.5%. The peak value was recorded in 2019 at 235.9 M $ US, and the largest increase occurred in 2018 at 36.5%.

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

Throughout 2017 to 2020, the United States played the leading role in export value terms, holding a 71.9% share of total flows. Other markets collectively accounted for the remainder.

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

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

Imports in-shell walnuts to Central America

Imports in kind, t

In 2020, Central America's in-shell walnut imports reached 51 252 t, up by 2.9% compared to 2019. Over the period from 2017 to 2020, imports increased by 48.6%, with a compound annual growth rate of 14.1%. The largest decline was recorded in 2019 at 0.9%, while the largest increase occurred in 2018 at 45.7%.

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

From 2017 to 2020, the United States was the almost exclusive supplier of in-shell walnuts to Central America, accounting for 100.0% of total imports in kind.

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

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

Imports in value, M $ US

In 2020, in-shell walnut shipments to Central America from abroad registered 151.8 M $ US, corresponding to a 6.8% year-over-year increase. Between 2017 and 2020, imports increased by 30.4%, equating to an annualized growth rate of 9.3%. The maximum value was recorded in 2018 at 185.7 M $ US. The largest decline occurred in 2019 at 23.5%, while the largest increase was in 2018 at 59.6%.

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

From 2017 to 2020, 100.0% of total import value for in-shell walnuts to Central America was directed to the United States, making this market overwhelmingly dominant.

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

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