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Walnut buyers are turning to China.
March 31, 2025 11:18 AM, Der AUDITOR
SANTIAGO/DALIAN
Chile experienced a sharp decline in exports, according to the 2024/2025 final report published by ChileNut. While expectations for this year may be much better, the market remains pessimistic. International buyers are turning to China.
The disappointing export season has come to an end.
Chile concluded the 2024/2025 season with a 14% decrease in shipments of shelled walnuts and a 29% decrease in shipments of unshelled walnuts. Monthly exports in February 2025 fell by 60% to 327 tons of unshelled walnuts and by 71% to 135 tons of shelled walnuts. These figures represent a significant decline compared to February 2024.
Decrease in shelled walnut exports.
Chile's exports of shelled walnuts to Spain, Germany, and Italy showed a mixed trend. Shipments to Spain increased by 13% compared to the previous season, while exports to Germany and Italy decreased by 3% and 21%, respectively. Although Europe was the only region to show an increase in shipments throughout 2024/2025, the season ended with a 2% decrease at 22,360 tons.
Double-digit declines were seen in all other regions. Exports to the Americas fell 29% to 4,813 tons. However, Uruguay was an exception to this downward trend with a 26% increase. Exports to the Middle East and Africa fell 48% to 1,330 tons, while Asia and Oceania experienced the largest decline, with shipments falling 58% to 706 tons.
Chile's Shelled Walnut Exports (tons)
Collapse in shelled walnut exports.
Although Chile's exports of shelled walnuts to India decreased by 31% in the 2024/2025 season, the country remains a key export destination. Shipments to China, however, fell by 50%, while total exports to Asia and Oceania decreased by 29% compared to 2023/2024, reaching 72,978 tons.
Shipments to Türkiye, Morocco, and the United Arab Emirates also fell significantly. Total exports to the Middle East and Africa region decreased by 49% to 32,310 tons.
In contrast, exports to Italy and Spain increased. This reflects the general trend in Chile's European market. Total exports to Europe rose by 10% to 18,096 tons. Lithuania, meanwhile, significantly increased its purchases from Chile, reaching a remarkable level.
Peru also saw a large increase in shipments from Chile. This trend is consistent with Chile's exports to its American neighbors rising by 8% to 2,151 tons.
Source: ChileNut, 21/03-28/02
Prices will remain high.
While expectations for this year's crop in Chile may be much more positive, market sentiment remains cautious. According to the International Nuts and Dried Fruits Council's (INC) latest Global Statistical Review, based on data provided by ChileNut, production is expected to reach 168,200 tons. This represents a 25% increase compared to last year's disastrous crop of 134,576 tons. At the same time, with US production also down 27% from last season to 542,700 tons and stock levels starting low, prices are not expected to fall in the coming months.
Buyers are turning to China; quality is becoming less important.
China has a significant advantage due to high walnut kernel prices in the US and Chile. There is growing interest in importing walnuts, particularly from China, in Europe. China's production reached record levels in 2024/2025, at 1.55 million tons. In Europe, Xinjiang walnuts are particularly preferred due to their similar structure to US walnuts, and demand exceeds supply.
It is reported that Yunnan walnuts in China have largely been depleted. Xianjing walnut prices remained relatively stable in March. As the harvest season draws to a close, buyers are advised to verify specifications, as quality can vary in terms of kernel yield and color.