Chile: Walnut Market 2024

Walnut Market Size in Chile

The Chilean walnut market shrank markedly to $X in 2021, waning by -34.7% against the previous year. Over the period under review, consumption, however, continues to indicate a prominent increase. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Walnut Production in Chile

In value terms, walnut production shrank to $X in 2021 estimated in export price. Overall, production, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 63% against the previous year. Walnut production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

The average yield of walnuts in Chile declined to X tons per ha in 2021, which is down by -7.8% on the previous year's figure. Overall, the yield indicated perceptible growth from 2012 to 2021: its figure increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, walnut yield decreased by -18.5% against 2018 indices. The pace of growth appeared the most rapid in 2018 when the yield increased by 46% against the previous year. As a result, the yield attained the peak level of X tons per ha. From 2019 to 2021, the growth of the average walnut yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, the harvested area of walnuts in Chile shrank to X ha, which is down by -2.9% on 2020 figures. Over the period under review, the harvested area, however, recorded resilient growth. The growth pace was the most rapid in 2014 with an increase of 28% against the previous year. The walnut harvested area peaked at X ha in 2020, and then shrank slightly in the following year.

Walnut Exports

Exports from Chile

Walnut exports from Chile soared to X tons in 2021, rising by 25% compared with 2020 figures. Overall, exports showed significant growth. The most prominent rate of growth was recorded in 2017 when exports increased by 63%. The exports peaked in 2021 and are likely to continue growth in the near future.

In value terms, walnut exports soared to $X in 2021. In general, exports showed a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of 119% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in years to come.

Exports by Country

India (X tons), Turkey (X tons) and Italy (X tons) were the main destinations of walnut exports from Chile, together accounting for 62% of total exports.

From 2012 to 2021, the biggest increases were in India (with a CAGR of +84.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for walnut exported from Chile were India ($X), Turkey ($X) and Italy ($X), with a combined 61% share of total exports.

India, with a CAGR of +77.8%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average walnut export price stood at $X per ton in 2021, growing by 3.5% against the previous year. In general, the export price, however, recorded a pronounced curtailment. The pace of growth was the most pronounced in 2017 an increase of 34%. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat for the major export markets. In 2021, the countries with the highest prices were Belarus ($X per ton) and Brazil ($X per ton), while the average price for exports to Turkey ($X per ton) and Vietnam ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Belarus (+1.3%), while the prices for the other major destinations experienced a decline.

Walnut Imports

Imports into Chile

Walnut imports into Chile shrank notably to X tons in 2021, declining by -17.6% against 2020. Over the period under review, imports saw a precipitous slump. The pace of growth was the most pronounced in 2014 with an increase of 119% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, walnut imports expanded sharply to $X in 2021. Overall, imports saw a precipitous decline. The most prominent rate of growth was recorded in 2014 with an increase of 92%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Argentina (X tons), the United Arab Emirates (X tons) and the United States (X tons) were the main suppliers of walnut imports to Chile, with a combined 75% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United Arab Emirates (with a CAGR of +14.7%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the United Arab Emirates ($X), Argentina ($X) and the United States ($X) constituted the largest walnut suppliers to Chile, together accounting for 76% of total imports. These countries were followed by Italy, Turkey, the Netherlands and Spain, which together accounted for a further 24%.

The Netherlands, with a CAGR of 0.0%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average walnut import price amounted to $X per ton, increasing by 28% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was the Netherlands ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+22.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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