Asia-Pacific: Walnut Market 2024

Walnut Market Size in Asia-Pacific

In 2021, after two years of growth, there was decline in the Asia-Pacific walnut market, when its value decreased by -1.7% to $X. The total consumption indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +6.3% against 2018 indices. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Walnut Production in Asia-Pacific

In value terms, walnut production expanded remarkably to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a prominent increase. The growth pace was the most rapid in 2013 when the production volume increased by 111%. The level of production peaked at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

The country with the largest volume of walnut production was China (X tons), accounting for 93% of total volume. It was followed by India (X tons), with a 2.9% share of total production.

From 2012 to 2021, the average annual rate of growth in terms of volume in China totaled +4.3%.

The average walnut yield fell to X tons per ha in 2021, approximately equating the previous year's figure. The yield indicated a strong increase from 2012 to 2021: its figure increased at an average annual rate of +9.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, walnut yield increased by +121.3% against 2012 indices. The pace of growth appeared the most rapid in 2016 with an increase of 24% against the previous year. Over the period under review, the walnut yield hit record highs at X tons per ha in 2020, and then contracted slightly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The walnut harvested area dropped modestly to X ha in 2021, with a decrease of -3.4% on the previous year's figure. In general, the harvested area showed a perceptible slump. The most prominent rate of growth was recorded in 2019 when the harvested area increased by 14%. The level of harvested area peaked at X ha in 2012; however, from 2013 to 2021, the harvested area stood at a somewhat lower figure.

Walnut Exports

Exports in Asia-Pacific

In 2021, the amount of walnuts exported in Asia-Pacific skyrocketed to X tons, picking up by 41% on 2020. Over the period under review, exports saw a remarkable increase. The pace of growth appeared the most rapid in 2019 with an increase of 221%. Over the period under review, the exports reached the peak figure in 2021 and are likely to see steady growth in years to come.

In value terms, walnut exports soared to $X in 2021. In general, exports recorded a strong expansion. The most prominent rate of growth was recorded in 2019 with an increase of 178% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to see gradual growth in years to come.

Exports by Country

China prevails in exports structure, accounting for X tons, which was approx. 95% of total exports in 2021. Australia (X tons) held a relatively small share of total exports.

China was also the fastest-growing in terms of the walnuts exports, with a CAGR of +150.7% from 2012 to 2021. Australia experienced a relatively flat trend pattern. China (+95 p.p.) significantly strengthened its position in terms of the total exports, while Australia saw its share reduced by -8.5% from 2012 to 2021, respectively.

In value terms, China ($X) remains the largest walnut supplier in Asia-Pacific, comprising 94% of total exports. The second position in the ranking was taken by Australia ($X), with a 4.3% share of total exports.

In China, walnut exports increased at an average annual rate of +153.5% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per ton, declining by -3.2% against the previous year. Export price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, walnut export price decreased by -33.7% against 2018 indices. The growth pace was the most rapid in 2017 when the export price increased by 45% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was Australia ($X per ton), while China stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+1.1%).

Walnut Imports

Imports in Asia-Pacific

Walnut imports soared to X tons in 2021, jumping by 51% against the year before. Overall, imports posted noticeable growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, walnut imports soared to $X in 2021. In general, imports, however, continue to indicate a perceptible setback. The pace of growth appeared the most rapid in 2017 with an increase of 37%. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

India represented the largest importer of walnuts in Asia-Pacific, with the volume of imports finishing at X tons, which was approx. 54% of total imports in 2021. Vietnam (X tons) held a 20% share (based on physical terms) of total imports, which put it in second place, followed by Pakistan (11%), China (5.6%) and Nepal (4.7%). Democratic People's Republic of Korea (X tons) took a relatively small share of total imports.

Imports into India increased at an average annual rate of +98.1% from 2012 to 2021. At the same time, Pakistan (+106.3%), Vietnam (+56.7%), Nepal (+35.1%) and Democratic People's Republic of Korea (+20.0%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +106.3% from 2012-2021. By contrast, China (-15.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of India, Vietnam, Pakistan, Nepal and Democratic People's Republic of Korea increased by +54, +20, +11, +4.3 and +1.8 percentage points, respectively.

In value terms, India ($X), Vietnam ($X) and Pakistan ($X) were the countries with the highest levels of imports in 2021, together accounting for 83% of total imports.

Among the main importing countries, Pakistan, with a CAGR of +98.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per ton, waning by -16.2% against the previous year. Over the period under review, the import price recorded a perceptible setback. The most prominent rate of growth was recorded in 2013 an increase of 14%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Vietnam ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nepal (-0.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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