Shelled almonds market in Latin America and the Caribbean

Earlier Report Observations

The market for shelled almonds in Latin America and the Caribbean expanded significantly from 36 326 т in 2018 to 53 108 т in 2020. This growth was primarily driven by rising consumer demand for almond-based products such as almond milk and nuts for athletes, which opened the market to increased imports. The growing preference for organic almonds, with consumers willing to pay more for superior quality, further stimulated market volume.

After peaking in 2020, the market volume gradually declined to 44 548 т by 2023. During this period, the industry focused on professionalization and investment in specialized machinery to support domestic production. International market trends and price volatility influenced trade flows, contributing to the adjustment in total market size.

By 2024, global almond production reached record levels, with the United States, European Union, and Australia as leading producers. High international demand and supply constraints led to record almond prices, shaping regional market dynamics.

Production shelled almonds in Latin America and the Caribbean

In kind, 2017-2020, t

Top producers of shelled almonds, 2017-2020

World map of production of shelled almonds, 2017-2020

Latin America and the Caribbean have seen their shelled almond production grow for the third year in a row. In 2020, the region produced 22 007 tonnes of shelled almonds, marking a moderate 8.5% increase from the previous year. Looking at the period from 2017 to 2020, production rose by 28.6%, which translates to an average annual growth rate of 8.8%.

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

Exports shelled almonds from Latin America and the Caribbean

Exports in kind, t

For the second consecutive year, Latin America and the Caribbean experienced a decline in shelled almond export volumes. In 2020, the region exported 2 222 tonnes of shelled almonds, representing a sharp 56.1% drop compared to 2019. Over the 2017-2020 period, exports fell by 62.9%, averaging an annual decrease of 28.1%. The peak export volume was recorded in 2018 at 7 950 tonnes, which also saw the largest increase of 32.7% that year.

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

An analysis of shelled almond export volumes from 2017 to 2020 reveals a diverse distribution across multiple markets. Russia accounted for 23.1% of exports, Italy for 4.5%, and Germany for 1.8%, together making up just 29.4% of total flows. The remaining 70.6% was spread among various other trading partners.

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, M $ US

After two years of growth, cross-border shipments of shelled almonds from Latin America and the Caribbean declined in 2020. Exports totaled 44.0 million US dollars, a 40.3% decrease from 2019. However, over the full 2017-2020 period, exports increased by 4.7%, with an average annual growth rate of 1.6%. The highest value was recorded in 2019 at 73.6 million US dollars, while the largest increase occurred in 2018 at 37.5%.

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

From 2017 to 2020, the value of shelled almond exports from Latin America and the Caribbean was not heavily concentrated. Russia held 23.0% of export value, Italy 4.6%, and Germany 2.3%, together accounting for only 29.8% of total flows.

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 shelled almonds to Latin America and the Caribbean

Imports in kind, t

Foreign supplies of shelled almonds to Latin America and the Caribbean increased for the second year in a row. In 2020, imports reached 33 323 tonnes, up 22.3% from the previous year. Over the 2017-2020 period, imports grew by 26.6%, with a compound annual growth rate of 8.2%. The lowest import volume was recorded in 2018 at 25 613 tonnes, which also saw the largest decline of 2.7% that year.

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

Between 2017 and 2020, the import volume of shelled almonds to Latin America and the Caribbean was primarily dominated by the United States and Australia, which together accounted for 83.3% 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, M $ US

Latin America and the Caribbean have experienced a third consecutive year of growth in shelled almond import value. In 2020, imports were recorded at 210.4 million US dollars, showing a 9.6% increase compared to 2019. From 2017 to 2020, imports rose by 21.8%, averaging an annual growth rate of 6.8%.

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

Throughout 2017-2020, the United States clearly dominated the value of shelled almond imports to Latin America and the Caribbean, capturing 80.9% of total flows, while other countries each held significantly smaller shares.

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