In-shell walnuts market in South America

Earlier Report Observations

The market volume for in-shell walnuts in Argentina showed considerable movement from 2018 to 2023. It began at 110.5 thousand tons in 2018 before contracting sharply the following year to 71.6 thousand tons. A sustained recovery followed, with the market volume climbing to 109.4 thousand tons by 2022, nearly matching the initial level, before stabilizing at 108.0 thousand tons in 2023.

This trajectory was underpinned by a clear expansion in domestic output, as production rose from 163.3 thousand tons in 2020 to 217.9 thousand tons in 2023. Concurrently, export volumes also grew significantly, reaching 111.3 thousand tons in 2023, which tempered the net supply growth for the local market. Imports played a minor role, fluctuating at a low level throughout the period.

In 2024, promotional activity for specific varieties like Chandler walnuts emphasized their health attributes, including omega-3 and antioxidant content, aligning with a wider shift in consumer preferences toward nutritious food options.

Production in-shell walnuts in South 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

In 2019, South America's in-shell walnut production saw its largest decline of 16.2%. However, in 2020, production rebounded to 163.3 thousand tons, marking a controlled increase of 9.6% compared to the previous year. The peak production occurred in 2018 at 177.9 thousand tons, which represented a significant 40.5% increase from 2017. Overall, from 2017 to 2020, production grew by 29%, translating to an annualized growth rate of 8.9%.

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

In value, 2017-2020, M $ US

In 2019, the value of in-shell walnut production in South America hit its lowest point at 412.5 million US dollars, with the largest decline of 31.4% recorded that year. By 2020, the output value rose to 444.1 million US dollars, showing a 7.7% increase from 2019. The highest value was achieved in 2018 at 601.4 million US dollars, which was a 26.0% increase from 2017. Over the period from 2017 to 2020, production value decreased by 7%, resulting in an annualized decline rate of 2.4%.

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

Exports in-shell walnuts from South America

Exports in kind, t

In 2019, South America's in-shell walnut exports reached their peak at 78 764 tons, with the largest increase of 17.4% recorded in 2018. However, after two years of growth, exports declined in 2020 to 70 283 tons, representing a solid reduction of 10.8% year-over-year. From 2017 to 2020, exports overall increased by 20.7%, equating to an annualized growth rate of 6.5%.

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

Between 2017 and 2020, Turkey, the United Arab Emirates, and Italy were the main markets for South America's in-shell walnut exports in volume terms. Turkey accounted for 30.9% of exports, the United Arab Emirates for 13.1%, and Italy for 12.9%. Together, these three countries made up 56.9% of total export flows.

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, M $ US

In 2018, South America's in-shell walnut export value peaked at 231.2 million US dollars, with the largest increase of 5.3% recorded that year. However, exports declined for the second consecutive year, dropping to 191.1 million US dollars in 2020, which is 12.3% less than in 2019. From 2017 to 2020, export value decreased by 13%, resulting in an annualized decline rate of 4.5%.

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

From 2017 to 2020, Turkey, Italy, and the United Arab Emirates remained the top three markets for South America's in-shell walnut exports in value terms. Collectively, they accounted for 56.0% of total export flows during this period.

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 in-shell walnuts to South America

Imports in kind, t

In 2020, South America's in-shell walnut imports increased for the third consecutive year, reaching 2 289 tons. This marked a steep rise of 66.3% compared to 2019. Over the period from 2017 to 2020, imports grew by 206.9%, with a compound annual growth rate of 45.3%.

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

Throughout 2017 to 2020, the United States and Italy led the list of markets for South America's in-shell walnut imports in volume terms. Together, they accounted for 11.4% of total import flows.

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, M $ US

In 2019, South America's in-shell walnut import value experienced its largest decline of 4.6%. However, in 2020, imports rebounded to 7.0 million US dollars, showing a robust advance of 15.5% from the previous year. From 2017 to 2020, import value increased by 22.9%, equating to an annualized growth rate of 7.1%.

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

Over the period from 2017 to 2020, the United States and Italy were the leading markets for South America's in-shell walnut imports in value terms. Together, they made up 9.5% of total import 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