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USDA expects global nut production to recover this season

Published Nov 6, 2024

Tridge summary

Despite predictions, global almond production in the 2023/2024 campaign remained stagnant, showing no signs of recovery from the previous decline. However, a notable increase is anticipated for the 2024/2025 campaign, with the United States, the world's leading producer, expecting a 13% rise, contributing to a global total of 1.64 million tons. Australia and the European Union are also projected to see record production levels.

In contrast, walnut production experienced a slight uptick, with a projected global total of 2.7 million tonnes, primarily driven by increases in China, Chile, and the European Union, despite a decline in the United States. The European Union's production is expected to reach 150,000 tonnes, thanks to growth in France, Italy, and Spain.

For pistachios, the United States Department of Agriculture (USDA) has forecasted a 40% surge in global production for the 2023/2024 campaign, with the United States and Iran being the main contributors. This increase is attributed to exceptional harvest results in these countries.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Contrary to initial expectations, global almond production did not recover in the 2023/2024 campaign from the decline suffered in the previous one. However, this improvement is expected for the current one, at least according to the forecasts handled by the United States Department of Agriculture (USDA), which points to a volume of 1.64 million tons (without shell) in 2024/2025, 13% more. This improvement is due to the 13% increase expected in the United States, the world's leading producer by far, where 1.3 million tons are expected due to improved yields and because new areas continue to come into production. Far from that figure, the second producer, Australia, expects a record volume of 160,000 tons and the third, the European Union, could reach 150,000 tons, 11% more than in the previous campaign due to the improvement in Spain, which more than compensates for the expected decline in Italy. Despite the increase in community production, imports into the EU will increase by 4%, ...
Source: Agropopular
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