Eastern Europe: Chestnut Market 2024

Chestnut Market Size in Eastern Europe

The East European chestnut market expanded notably to $X in 2021, rising by 11% against the previous year. The total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +7.8% 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 +10.7% against 2017 indices. The level of consumption peaked in 2021 and is expected to retain growth in the immediate term.

Chestnut Production in Eastern Europe

In value terms, chestnut production reduced to $X in 2021 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 30% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then fell in the following year.

The countries with the highest volumes of production in 2021 were Bulgaria (X tons), Poland (X tons) and Ukraine (X tons), with a combined 86% share of total production.

From 2012 to 2021, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Bulgaria (with a CAGR of +9.1%), while production for the other leaders experienced more modest paces of growth.

The average chestnut yield soared to X tons per ha in 2021, with an increase of 28% compared with 2020 figures. Over the period under review, the yield saw strong growth. The pace of growth appeared the most rapid in 2014 with an increase of 64% against the previous year. The level of yield peaked at X tons per ha in 2019; however, from 2020 to 2021, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The chestnut harvested area dropped to X ha in 2021, which is down by -7.2% compared with the year before. Over the period under review, the harvested area showed a pronounced reduction. The pace of growth appeared the most rapid in 2020 when the harvested area increased by 17% against the previous year. Over the period under review, the harvested area dedicated to chestnut production reached the maximum at X ha in 2013; however, from 2014 to 2021, the harvested area stood at a somewhat lower figure.

Chestnut Exports

Exports in Eastern Europe

Chestnut exports dropped notably to X tons in 2021, waning by -23.3% on the previous year. In general, exports showed a noticeable shrinkage. The growth pace was the most rapid in 2013 with an increase of 334%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, chestnut exports contracted dramatically to $X in 2021. Overall, exports, however, showed a noticeable expansion. The pace of growth was the most pronounced in 2013 with an increase of 336%. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, the Czech Republic (X tons) was the major exporter of chestnuts, generating 57% of total exports. Bulgaria (X tons) ranks second in terms of the total exports with a 27% share, followed by Poland (4.9%) and Ukraine (4.8%). The following exporters - Romania (X tons) and Slovakia (X tons) - each finished at a 3.8% share of total exports.

The Czech Republic experienced a relatively flat trend pattern with regard to volume of exports of chestnuts. At the same time, Poland (+88.4%) and Slovakia (+14.3%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +88.4% from 2012-2021. By contrast, Bulgaria (-6.9%), Romania (-11.0%) and Ukraine (-16.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the Czech Republic, Poland and Ukraine increased by +17, +4.9 and +4.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Czech Republic ($X) remains the largest chestnut supplier in Eastern Europe, comprising 72% of total exports. The second position in the ranking was taken by Bulgaria ($X), with a 19% share of total exports. It was followed by Slovakia, with a 2.2% share.

In the Czech Republic, chestnut exports increased at an average annual rate of +4.6% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Bulgaria (+3.9% per year) and Slovakia (+18.0% per year).

Export Prices by Country

In 2021, the export price in Eastern Europe amounted to $X per ton, rising by 7.6% against the previous year. In general, the export price enjoyed a prominent increase. The growth pace was the most rapid in 2019 an increase of 30%. The level of export peaked in 2021 and is likely to see gradual growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bulgaria (+11.7%), while the other leaders experienced more modest paces of growth.

Chestnut Imports

Imports in Eastern Europe

In 2021, approx. X tons of chestnuts were imported in Eastern Europe; waning by -12.6% on 2020 figures. Total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -43.9% against 2017 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 68%. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, chestnut imports totaled $X in 2021. Over the period under review, imports, however, saw a prominent expansion. The pace of growth appeared the most rapid in 2013 with an increase of 48% against the previous year. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

Hungary represented the largest importer of chestnuts in Eastern Europe, with the volume of imports reaching X tons, which was approx. 44% of total imports in 2021. Romania (X tons) took the second position in the ranking, followed by Slovakia (X tons), the Czech Republic (X tons), Russia (X tons) and Bulgaria (X tons). All these countries together took approx. 52% share of total imports. Poland (X tons) held a relatively small share of total imports.

Hungary was also the fastest-growing in terms of the chestnuts imports, with a CAGR of +13.2% from 2012 to 2021. At the same time, Romania (+13.1%), Poland (+5.7%), Bulgaria (+2.8%), the Czech Republic (+2.3%) and Slovakia (+1.8%) displayed positive paces of growth. By contrast, Russia (-5.1%) illustrated a downward trend over the same period. While the share of Hungary (+19 p.p.) and Romania (+7.3 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Bulgaria (-1.8 p.p.), the Czech Republic (-4.4 p.p.), Slovakia (-5.3 p.p.) and Russia (-14.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest chestnut importing markets in Eastern Europe were Hungary ($X), Slovakia ($X) and Romania ($X), with a combined 72% share of total imports.

Hungary, with a CAGR of +19.0%, saw the highest growth rate of the value of imports, among the main importing countries 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 Eastern Europe amounted to $X per ton, increasing by 22% against the previous year. Import price indicated a temperate increase from 2012 to 2021: its price increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, chestnut import price increased by +94.1% against 2015 indices. The most prominent rate of growth was recorded in 2016 an increase of 32% against the previous year. Over the period under review, import prices hit record highs in 2021 and is expected to retain growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovakia (+9.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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