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Global Tree Nut Production Likely to Reach 5.7 Mn Tonnes in 2023-24

As the nut industry looks ahead to the 2023-24 season, the discussions and forecasts shared during the 40th World Nut and Dried Fruit Congress provided valuable insights into the projected trends and potential growth of this global market.

Shivam Dwivedi
Global Tree Nut Production Likely to Reach 5.7 Mn Tonnes in 2023-24 (Photo Source: Pixabay)
Global Tree Nut Production Likely to Reach 5.7 Mn Tonnes in 2023-24 (Photo Source: Pixabay)

The global tree nut production for the upcoming season of 2023-24 is projected to reach 5.7 million tonnes (kernel basis, except pistachios in-shell), marking a five percent increase from the previous year. This forecast was announced at the 40th World Nut and Dried Fruit Congress held in London, where industry leaders gathered to discuss the future of the nut industry.

While it is still premature to predict the final figures, experts anticipate that almond, walnut, cashew, hazelnut, and pecan crops will largely remain stable or experience only slight growth compared to the previous season. However, there are positive expectations for pistachios and macadamias, with estimated increases of 37 percent and 9 percent, respectively, compared to 2022-23. On the other hand, Brazil nuts and pine nuts are forecasted to have lower yields this season.

During the congress, early estimates were shared, indicating that global peanut production in the 2023-24 season is expected to reach approximately 51 million tonnes (in-shell basis), a four percent rise from the previous year. Furthermore, the forecast for dried fruit production worldwide in 2023-24 stands at 3.2 million tonnes, reflecting a seven percent increase compared to 2022-23. This growth is primarily driven by anticipated production increases for dates (22 percent), prunes (21 percent), and dried figs (14 percent).

In addition to discussing production forecasts, the congress highlighted the importance of generating global demand for nuts through innovative product concepts. This theme resonated throughout the event, emphasizing the industry's commitment to increasing consumption worldwide. The International Nut & Dried Fruit Council (INC) also announced that next year's INC Congress will be hosted in Vancouver, Canada, from May 8 to 10, 2024.

Pratap Nair, an INC Board Member, shared that the INC will launch a significant dissemination program in India this year. The initiative aims to raise awareness about the proven health benefits of consuming nuts, drawing upon research conducted by prestigious institutions worldwide. The multi-country campaign will be entirely digital and utilize social media platforms such as Instagram, YouTube, and Facebook to promote its message. The program is set to commence within the next few months.

Nair also commented on the Indian market, stating that the consumption of dried fruits and nuts in the country continues to exhibit robust growth. He anticipates an annual increase of 7-8 percent in consumption over the next decade.

Notably, the United Kingdom stands among the top 15 countries in the world in terms of tree nut consumption, with an estimated annual consumption of 75,000 tonnes of tree nuts (excluding pistachios in their shells).

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