Tree nuts are important food commodities that are an excellent energy source and dietary protein and are rich in natural bioactive and health-promoting compounds. The major tree nuts include almonds, pistachio nuts, and walnuts. These nuts are a major source of protein and energy. In recent years, the popularity of tree nuts has grown dramatically after epidemiological studies and clinical intervention trials discovered an inverse relationship between tree nut consumption and chronic diseases.
In the last two years, the U.S. and Turkey were the largest producers of tree nuts in the world, producing more than 200 thousand tons. While the biggest consumers-importers of tree nuts were China and the countries of the.
Forecast – Almonds
The output of almonds is expected to decrease globally by 10% to 1.5 million metric tonnes (tonnes) because of losses in the United States and Europe, which were offset by growth in other producing nations. While exports from the U.S. and Australia are anticipated to increase by around 10% (1.1 million tonnes) globally.
Even though there would be good weather for crop production, U.S. production is predicted to be down 11% (1.2 million tonnes) as the average nut set per tree declined by 12%, more than offsetting a 4% rise. The main worries would be crop damage from frost and drought conditions. A record 960,000 tonnes of exports are anticipated, with greater shipments to China and the European Union.
Forecast- Walnuts
Global walnut production and commerce are expected to increase to 2.6 million tonnes in-shell because stronger output in China will more than balance decreasing output in the United States. China and the United States produce around 80% of the overall output.
Global consumption is predicted to expand by 15%, while exports are expected to jump 5% to a record 1.0 million tonnes due to large shipments from Ukraine. Because of Ukraine, global ending stocks are estimated to be 22% lower.
The United States output is expected to be only 1% lower, at 653,000 metric tonnes. Furthermore, cold temperatures in the latter two weeks of February 2021 caused frost damage to orchards, and producers suffered from dry conditions and water shortages. Exports are expected to fall 3% to 485,000 tonnes owing to decreased exportable supply and weaker exports to important markets including the European Union, Turkey, and the United Arab Emirates. Stocks are predicted to fall 5% to 52,000 tonnes due to lesser accessible supply.
Forecast- Pistachios
Global production was lower by 16 percent to 826,000 metric tons because the declines in Iran and Turkey more than offset the record U.S. output. Additionally, world consumption and trade declined due to lower available supplies.
U.S. production increased 11 percent to 524,000 tons due to high yields and increased bearing area. Exports were 40 percent higher to a record 328,000 tons due to heavy shipments to top markets China and the European Union. Even though there are record shipments, closing stocks are high to 180,000 tons.
As per FMI, During the years 2022-2032, North America is predicted to be a highly profitable market for tree nuts. The high nutritional content of tree nuts, such as calcium, proteins, omega fatty acids, and others, is driving up demand for them in a variety of businesses. It is finding a wide range of applications in the creation of dietary supplements, therefore demand for tree nuts is expected to grow.
Furthermore, the usage of nuts such as almonds, pistachios, walnuts, and others in the creation of desserts and dairy products is expanding, and the growing number of restaurants, bakeries, and sweets stores is predicted to favor expansion in the North American market.