EU: Chestnut Market 2024

Chestnut Market Size in the EU

In 2021, the EU chestnut market decreased by -6.4% to $X, falling for the second year in a row after two years of growth. The market value increased at an average annual rate of +1.3% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Chestnut Production in the EU

In value terms, chestnut production declined slightly to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 13% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

The countries with the highest volumes of production in 2021 were Italy (X tons), Portugal (X tons) and Greece (X tons), together accounting for 82% of total production.

From 2012 to 2021, the biggest increases were in Portugal (with a CAGR of +9.4%), while production for the other leaders experienced more modest paces of growth.

The average chestnut yield shrank slightly to X tons per ha in 2021, falling by -1.8% against the year before. In general, the yield saw a slight shrinkage. The growth pace was the most rapid in 2016 with an increase of 5.1% against the previous year. As a result, the yield attained the peak level of X tons per ha. From 2017 to 2021, the growth of the chestnut 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.

In 2021, the harvested area of chestnuts in the European Union dropped slightly to X ha, approximately reflecting 2020. The harvested area increased at an average annual rate of +3.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when the harvested area increased by 16% against the previous year. Over the period under review, the harvested area dedicated to chestnut production reached the maximum at X ha in 2020, and then contracted modestly in the following year.

Chestnut Exports

Exports in the EU

In 2021, approx. X tons of chestnuts were exported in the European Union; stabilizing at the previous year. Total exports indicated a slight expansion from 2012 to 2021: its volume increased at an average annual rate of +1.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -3.0% against 2017 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 32%. The volume of export peaked at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, chestnut exports expanded remarkably to $X in 2021. The total export value increased at an average annual rate of +1.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when exports increased by 32%. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Italy (X tons), Portugal (X tons) and Spain (X tons) was the main exporter of chestnuts in the European Union, mixing up 78% of total export. Greece (X tons) held the next position in the ranking, followed by France (X tons). All these countries together held approx. 16% share of total exports. The following exporters - Austria (X tons) and the Netherlands (X tons) - each reached a 3.5% share of total exports.

From 2012 to 2021, the biggest increases were in Austria (with a CAGR of +34.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) remains the largest chestnut supplier in the European Union, comprising 43% of total exports. The second position in the ranking was held by Portugal ($X), with a 20% share of total exports. It was followed by Spain, with a 16% share.

In Italy, chestnut exports expanded at an average annual rate of +1.3% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Portugal (+0.3% per year) and Spain (+0.2% per year).

Export Prices by Country

The export price in the European Union stood at $X per ton in 2021, with an increase of 6.5% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the export price increased by 11%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Greece (+3.1%), while the other leaders experienced more modest paces of growth.

Chestnut Imports

Imports in the EU

In 2021, purchases abroad of chestnuts decreased by -16% to X tons, falling for the second consecutive year after two years of growth. Total imports indicated measured growth from 2012 to 2021: its volume increased at an average annual rate of +2.7% 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 -27.7% against 2019 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 63% against the previous year. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, chestnut imports stood at $X in 2021. Total imports indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +4.2% 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 -22.6% against 2018 indices. The pace of growth was the most pronounced in 2013 when imports increased by 61%. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Italy was the major importer of chestnuts in the European Union, with the volume of imports accounting for X tons, which was approx. 50% of total imports in 2021. France (X tons) held the second position in the ranking, followed by Germany (X tons), Spain (X tons) and Austria (X tons). All these countries together held near 32% share of total imports. Portugal (X tons), Hungary (X tons) and the Netherlands (X tons) took a relatively small share of total imports.

Imports into Italy increased at an average annual rate of +1.8% from 2012 to 2021. At the same time, Hungary (+13.2%), Germany (+4.8%), France (+4.2%), Spain (+3.9%), Portugal (+3.4%) and Austria (+2.4%) displayed positive paces of growth. Moreover, Hungary emerged as the fastest-growing importer imported in the European Union, with a CAGR of +13.2% from 2012-2021. By contrast, the Netherlands (-6.9%) illustrated a downward trend over the same period. While the share of the Netherlands (-3 p.p.) and Italy (-4.2 p.p.) decreased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Italy ($X) constitutes the largest market for imported chestnuts in the European Union, comprising 47% of total imports. The second position in the ranking was taken by Germany ($X), with a 15% share of total imports. It was followed by France, with a 7.9% share.

From 2012 to 2021, the average annual growth rate of value in Italy totaled +3.6%. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+6.1% per year) and France (+7.4% per year).

Import Prices by Country

The import price in the European Union stood at $X per ton in 2021, jumping by 19% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.4%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Germany ($X per ton), while Hungary ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hungary (+5.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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