World tree nut production in the 2022/2023 season is anticipated to reach ca. 5.5 million metric tons (kernel basis, except pistachios in-shell), up 5% from the previous season, as discussed by industry leaders at the Congress round tables.
Although it is still early in the season to predict the crops’ final outcomes, the most substantial increases are projected for walnuts (up by 20%), Brazil nuts (18%), pecans (17%), macadamias (8%), hazelnuts (7%) and pistachios (5%). The almond crop, forecasted at over 1.6 M MT, and cashews, at 975,800 MT, are expected to be very similar to the 2021/22 crop.
According to early estimations, world peanut production in 2022/23 is expected to remain within the previous season range and to amount to 50.7 million MT (in-shell basis).
Global dried fruit production is forecasted at over 3.2 million MT, up 5% from 2021/22, as world volumes are expected to increase for dried cranberries (up 16%), prunes (6%), and dates, dried figs and dried grapes (5% each).
Throughout the round tables, a common theme was that the industry in general is facing an oversupply that in turn has led to lower prices. It was agreed upon by industry leaders that the sector has to come together to promote consumption of nuts and dried fruits in efforts to rebalance the supply and demand. Shipping delays and increased freight costs also have strained the industry, however there remain many opportunities to grow. A significant opportunity for the industry to grow consumption is focused in the high growth opportunities in markets such as India and China, and through a focus on innovation and e-commerce.