In-shell walnuts market in Southern Europe

Earlier Report Observations

From 2018 to 2022, the in-shell walnut market in Southern Europe expanded significantly, with volume rising from 136.5 thousand tons to 190 thousand tons. This growth was primarily fueled by the steady expansion of walnut orchards in Portugal, where the cultivated area increased from 3.8 to 5.4 thousand hectares between 2018 and 2019, setting the stage for higher domestic production. Although weather-related harvest challenges in Portugal temporarily affected output in 2019, increasing global walnut production helped maintain supply. Concurrently, evolving consumer preferences in Italy towards shelled walnuts and ready-to-eat products like snacks and creams stimulated demand and encouraged product innovation.

The market's upward trajectory was interrupted in 2023, when volume fell to 158.6 thousand tons. During this period, Italian producers focused on differentiating their walnuts through individual marking to guarantee freshness and quality, while orchard expansion continued in Portugal and Spain. The entry of major regional players like Nogam in 2021, which processed imported Chilean walnuts locally, had previously added to the supply side. The Italian market also faced ongoing challenges from high carryover stocks and increased European and Chinese production, which impacted prices and consumption.

Production in-shell walnuts in Southern Europe

In kind, 2017-2020, t

Top producers of in-shell walnuts, 2017-2020

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

Southern Europe's in-shell walnut production rebounded after two years of decline. In 2020, the region produced 94 722 tonnes, marking a 12.4% increase from the previous year. Looking at the 2017-2020 period, production grew by 6.5%, with an average annual growth rate of 2.1%. The lowest production level was recorded in 2019 at 84 304 tonnes, which also saw the largest decline of 3.1%.

Annual dynamics of production in Southern Europe in kind, 2017-2020, t

In value, 2017-2020, M $ US

Southern Europe's in-shell walnut production value increased for the second consecutive year. In 2020, output was valued at 568.3 million US dollars, representing a 22.5% gain compared to 2019. However, over the broader 2017-2020 period, production value actually decreased by 10.4%, translating to an average annual decline of 3.6%. The lowest value was recorded in 2018 at 451.6 million US dollars, which also experienced the steepest drop of 28.8%.

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

Exports in-shell walnuts from Southern Europe

Exports in kind, t

In 2020, Southern Europe exported 2 349 tonnes of in-shell walnuts, showing a 17.7% increase from the previous year. Despite this recent uptick, exports declined by 29.8% over the 2017-2020 period, equivalent to an average annual decrease of 11.1%. The lowest export volume occurred in 2019 at 1 995 tonnes, while the peak was reached in 2018 with 3 671 tonnes. The most significant decline of 45.7% was recorded in 2019.

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

Between 2017 and 2020, Austria (10.5% of export volume), Germany (10.0%), and the United Kingdom (6.3%) were the largest buyers of in-shell walnuts from Southern Europe. Together, these three markets accounted for 26.8% of total export volume, with the remaining share distributed among numerous smaller trading partners.

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

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

Exports in value, M $ US

Southern Europe's in-shell walnut export value declined for the third consecutive year. In 2020, exports totaled 7.6 million US dollars, reflecting a 15.6% decrease from the previous year. Over the 2017-2020 period, export value fell by 42.6%, equivalent to an average annual decline of 16.9%.

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

During the 2017-2020 period, no single market dominated Southern Europe's in-shell walnut exports by value. Germany (11.5% of export value), the United Kingdom (9.4%), and Austria (9.1%) together accounted for 30.0% of total export value, with the remainder spread across many smaller partners, each holding modest individual shares.

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

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

Imports in-shell walnuts to Southern Europe

Imports in kind, t

Southern Europe imported 56 523 tonnes of in-shell walnuts in 2020, representing a significant 15.6% year-over-year decrease. Over the 2017-2020 period, imports declined by 9.8%, with an average annual decrease of 3.4%. The lowest import volume was recorded in 2018 at 53 204 tonnes, while the peak occurred in 2019 with 66 986 tonnes. The largest increase of 25.9% was recorded in 2019.

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

From 2017 to 2020, the United States (50.6% of import volume), France (19.5%), and Chile (15.4%) were the primary sources for Southern Europe's in-shell walnut imports. Together, these three countries supplied 85.5% of total import volume.

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

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

Imports in value, M $ US

In 2020, Southern Europe's in-shell walnut imports were valued at 163.5 million US dollars, marking a substantial 19.6% decrease from the previous year. Over the 2017-2020 period, import value declined by 31.6%, equivalent to an average annual decrease of 11.9%. The largest decline of 24.2% occurred in 2018, while the most significant increase of 12.3% was recorded in 2019.

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

Throughout the 2017-2020 period, the United States (47.4% of import value), France (21.6%), and Chile (15.9%) remained the main sources for Southern Europe's in-shell walnut imports by value. These three markets together accounted for 84.9% of total import value.

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

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