Walnuts market in Hungary

Earlier Report Observations

The Hungarian walnut market expanded from 4 526 t in 2018 to 6 673 t by 2022, with its value rising from 21.1 million USD to nearly 30 million USD in 2021. This growth was driven by the steady increase in walnut orchard area, which reached 7 100 ha by 2018, and the adoption of modern varieties by key players like Juglans Hungária Kft., boosting yields. Prices began climbing from 2018, partly due to a favorable exchange rate, and by early 2021, walnut kernel prices were 10% higher year-on-year.

A record harvest estimated at over 15 000 t in 2022 significantly boosted supply, but the market faced a glut due to rising imports, particularly of shelled Ukrainian walnuts, which reached 1 200 t. Coupled with shifting consumer preferences toward smaller and cheaper nuts, this surplus pressured exports and contributed to a market contraction. By 2023, market volume fell to 5 857 t and value declined to 25.3 million USD, even as retail prices continued to rise, reaching 5 720 HUF per kg.

In subsequent years, despite further orchard area expansion, the market continued to narrow due to overproduction and import competition. Processors invested in modernization, such as optical sorters, though the full benefits await younger plantations reaching maturity. Consumer demand also evolved toward more sustainable and health-conscious products, influencing market dynamics.

Production walnuts in Hungary

In kind, 2018-2021, t

Top producers of walnuts, 2018-2021

World map of production of walnuts, 2018-2021

Hungary's walnut production saw a moderate increase in 2021, reaching 5 950 tonnes, which represents a 9.0% rise compared to 2020. Over the period from 2018 to 2021, production grew by 3.1%, with an average annual growth rate of 1.0%. The lowest production level was recorded in 2020 at 5 460 tonnes, while the peak occurred in 2019 with 6 820 tonnes. The most significant decline happened in 2020, dropping by 19.9%, whereas the largest increase was observed in 2019, climbing by 18.2%.

Annual dynamics of production in Hungary in kind, 2018-2021, t

In value, 2018-2021, K $ US

Hungary's walnut production value has increased for the second year in a row. In 2021, the output was valued at 26 256 thousand US dollars, marking a 5.5% increase from the previous year. From 2018 to 2021, production value rose by 4.9%, with an average annual growth rate of 1.6%. The lowest value was recorded in 2019 at 23 910 thousand US dollars, which also saw the largest decline of 4.5%.

Annual dynamics of production in Hungary in value, 2018-2021, K $ US

Exports walnuts from Hungary

Exports in kind, t

Hungary's walnut export volume has declined for the third consecutive year. In 2021, exports amounted to 799 tonnes, showing a robust decrease of 13.7% year-on-year. Between 2018 and 2021, exports fell by 57.7%, equating to an annualized decline of 24.9%.

Annual dynamics of product's exports from Hungary in kind, 2018-2021, t

From 2018 to 2021, Germany, Italy, and the United Kingdom remained the top buyers of Hungarian walnuts by volume. Germany accounted for 39.9% of exports, Italy for 20.2%, and the United Kingdom for 11.2%, together making up 71.2% of total exports in kind.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Hungary in kind, 2018-2021

Exports in value, K $ US

Hungary's walnut export value has declined for the third year in a row. In 2021, exports were recorded at 3 525 thousand US dollars, representing a strong reduction of 16.4% compared to 2020. Between 2018 and 2021, export value decreased by 57%, with an annualized decline of 24.5%.

Annual dynamics of product's exports from Hungary in value, 2018-2021, K $ US

From 2018 to 2021, Germany, Italy, and the United Kingdom continued to be the principal buyers of Hungarian walnuts by value. Germany held 32.8% of exports, Italy 17.6%, and the United Kingdom 17.4%, collectively accounting for 67.8% of total exports in value terms.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Hungary in value, 2018-2021

Imports walnuts to Hungary

Imports in kind, t

Hungary's walnut import volume has increased for the third consecutive year. In 2021, imports totaled 1 434 tonnes, amounting to a solid rise of 14.8% compared to the previous year. Between 2018 and 2021, imports grew by 122.1%, equating to an annualized increase of 30.5%.

Annual dynamics of product's imports to Hungary in kind, 2018-2021, t

From 2018 to 2021, Ukraine dominated Hungary's walnut imports by volume, accounting for 72.9% of total flows, with a fragmented share from other markets.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Hungary in kind, 2018-2021

Imports in value, K $ US

There were noticeable fluctuations in market performance during the period. The lowest value was recorded in 2019 at 3 873 thousand US dollars, while the high in 2021 reached 7 226 thousand US dollars, showing a 1.9-fold variation between these years. In 2021, walnut imports to Hungary were valued at 7 226 thousand US dollars, representing a 9.0% gain versus the previous year. The largest decline occurred in 2019, dropping by 8.6%, whereas the largest increase was in 2020, rising by 71.2%.

Annual dynamics of product's imports to Hungary in value, 2018-2021, K $ US

Throughout 2018 to 2021, Ukraine, Romania, and Germany remained the key sources for Hungary's walnut imports by value. Ukraine accounted for 69.5% of imports, Romania for 9.0%, and Germany for 4.5%, together taking 83.0% of total flows.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Hungary in value, 2018-2021