Market Insights
18-07-2024
In 2022, global chestnut exports reached a total value of US$290.4 million. This represents an overall increase of 48.8% since 2018, when chestnut export sales were valued at $195.2 million. However, from 2021 to 2022, export revenues for chestnuts experienced a decline of -10.8%, dropping from $325.5 million.
Chestnuts, which come from the fruits of chestnut trees and are encased in a green, spiny covering, have a sweet, buttery taste when roasted but are bitter when raw. They are often roasted in their shells and can be enjoyed as snacks or used to make flour for cakes, pancakes, pies, pastas, and breads that can remain fresh for up to two weeks. Additionally, chestnuts can be used as thickeners for soups, stews, and sauces, and can be prepared in various ways such as candied, boiled, steamed, deep-fried, grilled, or roasted.
By value, the five largest exporters of chestnuts in 2022 were China, Italy, Türkiye, Spain, and France, accounting for nearly 78.6% of all chestnut exports.
In 2022, European countries led in chestnut exports, with shipments valued at $145.3 million, representing 50% of the global total. Asia followed closely with 46%, then Latin America (excluding Mexico but including the Caribbean) at 3.2%, Africa at 0.5%, North America at 0.2%, and Oceania (led by Fiji) at 0.05%.
Top Chestnut Exporting Countries
Below are the top 20 countries that exported the highest dollar value of chestnuts during 2022, regardless of whether the chestnuts were in-shell or shelled:
·China: US$81.6 million (28.1% of total exported chestnuts)
·Italy: $74.1 million (25.5%)
·Türkiye: $34.5 million (11.9%)
·Spain: $23.3 million (8%)
·France: $14.7 million (5.1%)
·Portugal: $13.2 million (4.5%)
·South Korea: $12.5 million (4.3%)
·Greece: $9.1 million (3.1%)
·Chile: $5.6 million (1.9%)
·Japan: $3.5 million (1.2%)
·Austria: $2.6 million (0.9%)
·Netherlands: $2.5 million (0.8%)
·Belgium: $2.3 million (0.8%)
·Dominican Republic: $1.7 million (0.6%)
·Mozambique: $1.5 million (0.5%)
·Peru: $1.5 million (0.5%)
·Germany: $1.3 million (0.4%)
·Georgia: $584,000 (0.2%)
·North Macedonia: $576,000 (0.2%)
·United States: $533,000 (0.2%)
By value, these 20 countries shipped 98.9% of globally exported chestnuts in 2022. Among the top exporters, Austria saw the highest growth since 2021 with an increase of 126%, followed by Belgium (up 85.3%), the United States (up 77.1%), and the Dominican Republic (up 37.1%). Countries that experienced declines in their chestnut export sales included Portugal (down -59.9%), Germany (down -48.8%), Greece (down -41.7%), Spain (down -29.6%), and Chile (down -14.3%).
Top Chestnut Importing Countries
Overall spending on imported chestnuts decreased by -12.9% over the five-year period starting in 2018 and declined by -2.4% year over year since 2021. Below are the 20 countries that imported the highest dollar value of chestnuts in 2022, regardless of whether they were shelled or not:
·Italy: US$55.9 million (16.8% of total imported chestnuts)
·Japan: $33.4 million (10.1%)
·France: $27.8 million (8.4%)
·Germany: $19.5 million (5.9%)
·Vietnam: $16.6 million (5%)
·Spain: $16.4 million (4.9%)
·Thailand: $16 million (4.8%)
·Switzerland: $15.3 million (4.6%)
·Austria: $13.6 million (4.1%)
·United States: $13.5 million (4.1%)
·China: $12.1 million (3.7%)
·Taiwan: $9.9 million (3%)
·Portugal: $7.1 million (2.1%)
·Canada: $6.6 million (2%)
·United Kingdom: $6.4 million (1.9%)
·Israel: $5.56 million (1.7%)
·South Korea: $4.47 million (1.3%)
·Hungary: $4 million (1.2%)
·Belgium: $3.7 million (1.1%)
·United Arab Emirates: $3.5 million (1.1%)
By value, these 20 countries purchased 87.6% of globally imported chestnuts in 2022. Among the top importers, the fastest-growing importers since 2021 were Vietnam (up 264.8%), the United Arab Emirates (up 103.2%), Thailand (up 80%), and Spain (up 36.2%). Countries that saw declines in their chestnut imports included Germany (down -28% from 2021), Italy (down -22.3%), South Korea (down -17.3%), China (down -17.1%), and Switzerland (down -12.3%).
Prices and Tariff Codes
In 2022, the average unit price paid by importers for in-shell chestnuts was $2,806 per ton, a -13.4% decrease from the 2021 average of $3,241 per ton. Shelled chestnuts commanded a higher unit price, averaging $4,864 per ton in 2022, down -8.9% from the 2021 average of $5,339 per ton. The higher price for shelled chestnuts is partly due to the labor costs and other processing expenses involved.
For research purposes, the Harmonized Tariff System codes for chestnuts are 080241 for fresh or dried chestnuts in-shell and 080242 for fresh or dried shelled chestnuts. In 2022, 92.1% of chestnuts exported worldwide by value were in-shell, while the remaining 7.9% were shelled.
This overview provides key insights into the top chestnut exports and imports by country, highlighting significant data and trends in the global chestnut market.
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