South-Eastern Asia: Shelled Walnut Market 2024

Shelled Walnut Market Size in South-Eastern Asia

In 2022, the Southeast Asian shelled walnut market increased by 5.6% to $X, rising for the second consecutive year after four years of decline. The market value increased at an average annual rate of +2.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Shelled Walnut Production in South-Eastern Asia

In value terms, shelled walnut production totaled $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the production volume increased by 49%. The level of production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Shelled Walnut Exports

Exports in South-Eastern Asia

In 2022, exports of shelled walnuts in South-Eastern Asia amounted to X tons, growing by 4.9% compared with the year before. Overall, exports saw resilient growth. The most prominent rate of growth was recorded in 2018 with an increase of 128%. Over the period under review, the exports attained the maximum at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, shelled walnut exports totaled $X in 2022. In general, exports continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2018 when exports increased by 103%. The level of export peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Vietnam represented the largest exporter of shelled walnuts in South-Eastern Asia, with the volume of exports reaching X tons, which was approx. 69% of total exports in 2022. Singapore (X tons) ranks second in terms of the total exports with a 21% share, followed by Thailand (6.4%). Malaysia (X tons) held a little share of total exports.

Vietnam was also the fastest-growing in terms of the shelled walnuts exports, with a CAGR of +28.9% from 2012 to 2022. At the same time, Thailand (+14.1%), Singapore (+5.3%) and Malaysia (+2.6%) displayed positive paces of growth. From 2012 to 2022, the share of Vietnam increased by +46 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest shelled walnut supplier in South-Eastern Asia, comprising 72% of total exports. The second position in the ranking was taken by Singapore ($X), with a 21% share of total exports. It was followed by Thailand, with a 4.6% share.

In Vietnam, shelled walnut exports expanded at an average annual rate of +27.1% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (+3.0% per year) and Thailand (+10.0% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, leveling off at the previous year. Over the period under review, the export price showed a slight decrease. The most prominent rate of growth was recorded in 2017 when the export price increased by 32% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Vietnam ($X per ton) and Malaysia ($X per ton), while Thailand ($X per ton) and Singapore ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (-1.4%), while the other leaders experienced a decline in the export price figures.

Shelled Walnut Imports

Imports in South-Eastern Asia

For the third consecutive year, South-Eastern Asia recorded growth in overseas purchases of shelled walnuts, which increased by 2.6% to X tons in 2022. Total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +8.5% against 2018 indices. The growth pace was the most rapid in 2016 when imports increased by 25% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, shelled walnut imports reached $X in 2022. Total imports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +20.6% against 2019 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 39%. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Malaysia (X tons) and Singapore (X tons) were the main importers of shelled walnuts in South-Eastern Asia, together making up 62% of total imports. The Philippines (X tons) took a 13% share (based on physical terms) of total imports, which put it in second place, followed by Thailand (13%), Vietnam (4.8%) and Indonesia (4.5%). Lao People's Democratic Republic (X tons) took a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +14.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest shelled walnut importing markets in South-Eastern Asia were Malaysia ($X), Singapore ($X) and Thailand ($X), together comprising 79% of total imports. The Philippines, Indonesia, Vietnam and Lao People's Democratic Republic lagged somewhat behind, together accounting for a further 21%.

Among the main importing countries, the Philippines, with a CAGR of +18.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, rising by 7.6% against the previous year. In general, the import price, however, saw a slight contraction. The pace of growth was the most pronounced in 2014 an increase of 21% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+5.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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