Latin America and the Caribbean: Shelled Hazelnut Market 2022

Shelled Hazelnut Exports

Exports in Latin America and the Caribbean

In 2021, after four years of growth, there was significant decline in shipments abroad of shelled hazelnuts, when their volume decreased by -53% to X tons. Over the period under review, exports faced a abrupt curtailment. The growth pace was the most rapid in 2018 when exports increased by 77%. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, shelled hazelnut exports plummeted to $X in 2021. In general, exports showed a abrupt downturn. The growth pace was the most rapid in 2018 with an increase of 78% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Mexico (X tons) and Peru (X tons) represented the main exporters of shelled hazelnuts in Latin America and the Caribbean, together resulting at approx. 80% of total exports. It was distantly followed by Argentina (X tons), achieving a 14% share of total exports. Brazil (X tons) and Colombia (X tons) held a relatively small share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Mexico (with a CAGR of +75.0%), while the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) emerged as the largest shelled hazelnut supplier in Latin America and the Caribbean, comprising 54% of total exports. The second position in the ranking was taken by Peru ($X), with a 26% share of total exports. It was followed by Argentina, with a 14% share.

In Mexico, shelled hazelnut exports increased at an average annual rate of +90.5% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Peru (+26.3% per year) and Argentina (+1.3% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, with an increase of 25% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 31%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Colombia ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (+19.9%), while the other leaders experienced more modest paces of growth.

Shelled Hazelnut Imports

Imports in Latin America and the Caribbean

In 2021, overseas purchases of shelled hazelnuts decreased by -20.5% to X tons for the first time since 2016, thus ending a four-year rising trend. Total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +6.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +20.1% against 2015 indices. The growth pace was the most rapid in 2020 with an increase of 28% against the previous year. As a result, imports reached the peak of X tons, and then fell sharply in the following year.

In value terms, shelled hazelnut imports reduced markedly to $X in 2021. Total imports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +7.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +19.2% against 2017 indices. The pace of growth appeared the most rapid in 2015 when imports increased by 57% against the previous year. Over the period under review, imports hit record highs at $X in 2020, and then reduced markedly in the following year.

Imports by Country

Brazil prevails in imports structure, accounting for X tons, which was near 89% of total imports in 2021. It was distantly followed by Argentina (X tons), committing a 5.2% share of total imports.

Brazil was also the fastest-growing in terms of the shelled hazelnuts imports, with a CAGR of +9.6% from 2012 to 2021. At the same time, Argentina (+9.3%) displayed positive paces of growth. While the share of Brazil (+19 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported shelled hazelnuts in Latin America and the Caribbean, comprising 90% of total imports. The second position in the ranking was taken by Argentina ($X), with a 4.8% share of total imports.

In Brazil, shelled hazelnut imports expanded at an average annual rate of +10.2% over the period from 2012-2021.

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, surging by 5.8% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 23% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2021, the import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, the country with the highest price was Brazil ($X per ton), while Argentina amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+0.8%).

Source: IndexBox Market Intelligence Platform

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