Asia: Walnut Market 2024

Walnut Market Size in Asia

In 2022, the Asian walnut market decreased by X% to $X for the first time since 2018, thus ending a three-year rising trend. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Walnut Production in Asia

In value terms, walnut production shrank to $X in 2022 estimated in export price. Overall, production, however, saw a noticeable expansion. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

China (X tons) constituted the country with the largest volume of walnut production, accounting for X% of total volume. Moreover, walnut production in China exceeded the figures recorded by the second-largest producer, Iran (X tons), threefold. Turkey (X tons) ranked third in terms of total production with a X% share.

From 2012 to 2022, the average annual growth rate of volume in China totaled X%. In the other countries, the average annual rates were as follows: Iran (X% per year) and Turkey (X% per year).

The average walnut yield declined slightly to X tons per ha in 2022, waning by X% on 2021 figures. The yield figure increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of X%. The level of yield peaked at X tons per ha in 2017; however, from 2018 to 2022, the yield failed to regain momentum. 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 declined modestly to X ha in 2022, remaining constant against 2021. The harvested area increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of X%. The level of harvested area peaked at X ha in 2021, and then contracted slightly in the following year.

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Walnut Exports

Exports in Asia

In 2022, approx. X tons of walnuts were exported in Asia; picking up by X% compared with the previous year. Overall, exports recorded a resilient expansion. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The volume of export peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, walnut exports surged to $X in 2022. Over the period under review, exports saw a significant increase. The pace of growth was the most pronounced in 2019 with an increase of X%. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

China (X tons) and the United Arab Emirates (X tons) represented roughly X% of total exports in 2022. Turkey (X tons) took an X% share (based on physical terms) of total exports, which put it in second place, followed by Kyrgyzstan (X%).

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest walnut supplying countries in Asia were China ($X), the United Arab Emirates ($X) and Turkey ($X), with a combined X% share of total exports.

China, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, rising by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2014 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Kyrgyzstan ($X per ton) was amongst the lowest.

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

Walnut Imports

Imports in Asia

In 2022, walnut imports in Asia reduced to X tons, stabilizing at the year before. Overall, imports, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2019 with an increase of X%. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, walnut imports shrank to $X in 2022. Total imports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Turkey (X tons) and the United Arab Emirates (X tons) were the major importers of walnuts in 2022, reaching near X% and X% of total imports, respectively. India (X tons) ranks next in terms of the total imports with a X% share, followed by Iran (X%), Iraq (X%), Kyrgyzstan (X%) and Kazakhstan (X%).

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

In value terms, the largest walnut importing markets in Asia were Turkey ($X), the United Arab Emirates ($X) and Iran ($X), with a combined X% share of total imports. India, Iraq, Kazakhstan and Kyrgyzstan lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Kyrgyzstan, with a CAGR of X%, 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 more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, shrinking by X% against the previous year. In general, the import price recorded a noticeable shrinkage. The pace of growth appeared the most rapid in 2017 when the import price increased by X% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Iran ($X per ton), while Kyrgyzstan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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