Spain: Shelled Walnut Market 2024

Shelled Walnut Market Size in Spain

The Spanish shelled walnut market soared to $X in 2022, picking up by 29% against the previous year. The market value increased at an average annual rate of +2.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Shelled Walnut Production in Spain

In value terms, shelled walnut production fell modestly to $X in 2022 estimated in export price. In general, production, however, recorded a mild curtailment. The growth pace was the most rapid in 2017 when the production volume increased by 11%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Shelled Walnut Exports

Exports from Spain

In 2022, shipments abroad of shelled walnuts decreased by -5% to X tons, falling for the second year in a row after two years of growth. Over the period under review, total exports indicated a modest increase from 2012 to 2022: its volume increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -7.0% against 2020 indices. The most prominent rate of growth was recorded in 2019 when exports increased by 78%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, shelled walnut exports dropped modestly to $X in 2022. In general, exports showed a perceptible decrease. The pace of growth was the most pronounced in 2014 when exports increased by 38% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Portugal (X tons) was the main destination for shelled walnut exports from Spain, accounting for a 40% share of total exports. Moreover, shelled walnut exports to Portugal exceeded the volume sent to the second major destination, Italy (X tons), threefold. The third position in this ranking was held by Turkey (X tons), with a 9.2% share.

From 2012 to 2022, the average annual growth rate of volume to Portugal stood at +3.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+11.9% per year) and Turkey (+33.0% per year).

In value terms, Portugal ($X) remains the key foreign market for shelled walnuts exports from Spain, comprising 42% of total exports. The second position in the ranking was held by France ($X), with an 11% share of total exports. It was followed by Italy, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Portugal amounted to +1.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-4.3% per year) and Italy (+4.3% per year).

Export Prices by Country

The average shelled walnut export price stood at $X per ton in 2022, remaining constant against the previous year. Overall, the export price, however, showed a pronounced decline. The most prominent rate of growth was recorded in 2017 an increase of 24%. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+6.9%), while the prices for the other major destinations experienced mixed trend patterns.

Shelled Walnut Imports

Imports into Spain

In 2022, approx. X tons of shelled walnuts were imported into Spain; with an increase of 11% compared with 2021 figures. Over the period under review, imports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2016 when imports increased by 16% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, shelled walnut imports soared to $X in 2022. Overall, total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +6.5% 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 +51.4% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) constituted the largest shelled walnut supplier to Spain, accounting for a 57% share of total imports. Moreover, shelled walnut imports from the United States exceeded the figures recorded by the second-largest supplier, Chile (X tons), threefold. Germany (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States totaled +7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (+22.2% per year) and Germany (+35.0% per year).

In value terms, the United States ($X) constituted the largest supplier of shelled walnuts to Spain, comprising 51% of total imports. The second position in the ranking was taken by Chile ($X), with a 25% share of total imports. It was followed by Germany, with an 18% share.

From 2012 to 2022, the average annual growth rate of value from the United States stood at +4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (+18.2% per year) and Germany (+32.1% per year).

Import Prices by Country

The average shelled walnut import price stood at $X per ton in 2022, growing by 30% against the previous year. In general, the import price, however, showed a mild slump. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (-2.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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