Greece: Walnut Market 2025

Walnut Market Size in Greece

The Greek walnut market declined to $X in 2021, shrinking by -10.4% against the previous year. Overall, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Walnut Production in Greece

In value terms, walnut production dropped to $X in 2021 estimated in export price. Overall, production saw a perceptible reduction. The growth pace was the most rapid in 2017 with an increase of 50% against the previous year. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

The average yield of walnuts in Greece dropped to X tons per ha in 2021, waning by -5.5% against the previous year. In general, the yield saw a mild curtailment. The pace of growth was the most pronounced in 2020 when the yield increased by 13% against the previous year. The walnut yield peaked at X tons per ha in 2017; however, from 2018 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 walnut harvested area in Greece fell modestly to X ha in 2021, waning by -1.9% on the year before. Over the period under review, the total harvested area indicated strong growth from 2012 to 2021: its figure increased at an average annual rate of +5.7% 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 harvested area increased by +77.5% against 2014 indices. The most prominent rate of growth was recorded in 2018 with an increase of 29% against the previous year. Over the period under review, the harvested area dedicated to walnut production reached the maximum at X ha in 2020, and then dropped in the following year.

Walnut Exports

Exports from Greece

In 2021, approx. X tons of walnuts were exported from Greece; rising by 102% on the year before. In general, exports continue to indicate significant growth. The growth pace was the most rapid in 2016 with an increase of 268% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, walnut exports surged to $X in 2021. Overall, exports recorded significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Italy (X tons) was the main destination for walnut exports from Greece, with a 74% share of total exports. Moreover, walnut exports to Italy exceeded the volume sent to the second major destination, Albania (X tons), fourfold. Cyprus (X tons) ranked third in terms of total exports with a 9.1% share.

From 2012 to 2021, the average annual growth rate of volume to Italy stood at +122.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Albania (+80.2% per year) and Cyprus (+10.2% per year).

In value terms, Italy ($X) emerged as the key foreign market for walnut exports from Greece, comprising 76% of total exports. The second position in the ranking was held by Cyprus ($X), with a 12% share of total exports. It was followed by Albania, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Italy totaled +125.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cyprus (+7.5% per year) and Albania (+87.8% per year).

Export Prices by Country

The average walnut export price stood at $X per ton in 2021, surging by 33% against the previous year. Over the period under review, the export price, however, saw a abrupt decline. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Cyprus ($X per ton), while the average price for exports to Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Bulgaria (+7.4%), while the prices for the other major destinations experienced more modest paces of growth.

Walnut Imports

Imports into Greece

In 2021, approx. X tons of walnuts were imported into Greece; increasing by 43% on 2020. Over the period under review, imports saw a strong increase. The growth pace was the most rapid in 2019 with an increase of 43% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in the immediate term.

In value terms, walnut imports skyrocketed to $X in 2021. Overall, imports continue to indicate tangible growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States (X tons), France (X tons) and Chile (X tons) were the main suppliers of walnut imports to Greece, with a combined 90% 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 States (with a CAGR of +105.3%), while imports for the other leaders experienced mixed trend patterns.

In value terms, France ($X), the United States ($X) and Chile ($X) were the largest walnut suppliers to Greece, together comprising 87% of total imports.

In terms of the main suppliers, the United States, with a CAGR of +96.1%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average walnut import price stood at $X per ton in 2021, increasing by 13% against the previous year. Overall, the import price, however, continues to indicate a noticeable slump. The growth pace was the most rapid in 2017 an increase of 14% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United Arab Emirates ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+33.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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