South Africa: Walnut Market 2024

Walnut Market Size in South Africa

The South African walnut market reduced dramatically to $X in 2021, waning by -95.1% against the previous year. In general, consumption showed a significant decrease. Walnut consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Walnut Production in South Africa

In value terms, walnut production soared to $X in 2021 estimated in export price. Overall, production continues to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2013 when the production volume increased by 398% against the previous year. Over the period under review, production attained the peak level at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Walnut Exports

Exports from South Africa

Walnut exports from South Africa surged to X tons in 2021, picking up by 166% against the year before. In general, exports showed a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 405% against the previous year. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, walnut exports soared to $X in 2021. Over the period under review, exports continue to indicate significant growth. The growth pace was the most rapid in 2013 with an increase of 336%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for walnut exports from South Africa, accounting for a 58% share of total exports. Moreover, walnut exports to the United Arab Emirates exceeded the volume sent to the second major destination, Spain (X tons), threefold. Turkey (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume to the United Arab Emirates stood at +7.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-5.2% per year) and Turkey (-5.8% per year).

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for walnut exports from South Africa, comprising 59% of total exports. The second position in the ranking was held by China ($X), with a 15% share of total exports. It was followed by Spain, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United Arab Emirates amounted to -1.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+26.9% per year) and Spain (-16.9% per year).

Export Prices by Country

In 2021, the average walnut export price amounted to $X per ton, growing by 2.1% against the previous year. In general, the export price, however, recorded a abrupt downturn. The most prominent rate of growth was recorded in 2014 an increase of 37% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2015; however, from 2016 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 China ($X per ton), while the average price for exports to Spain ($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 China (+39.2%), while the prices for the other major destinations experienced more modest paces of growth.

Walnut Imports

Imports into South Africa

For the third consecutive year, South Africa recorded growth in overseas purchases of walnuts, which increased by 39% to X tons in 2021. Over the period under review, imports enjoyed prominent growth. The growth pace was the most rapid in 2017 when imports increased by 318% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, walnut imports soared to $X in 2021. Overall, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by 466%. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

The United Arab Emirates (X tons), Chile (X tons) and the United States (X kg) were the main suppliers of walnut imports to South Africa, together accounting for 99% 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 +95.5%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Chile ($X), the United Arab Emirates ($X) and the United States ($X) constituted the largest walnut suppliers to South Africa, with a combined 99% share of total imports.

In terms of the main suppliers, the United Arab Emirates, with a CAGR of +87.6%, recorded the highest rates of growth with regard to 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, rising by 13% against the previous year. Overall, the import price, however, recorded a pronounced decrease. The pace of growth appeared the most rapid in 2017 an increase of 35% against the previous year. The import price peaked 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 Chile ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+51.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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