Browse Data and Analysis

Infographic discussing holiday baking as it relates to 2022 U.S. agricultural export totals and top producing states.

Ample opportunities exist for U.S. agricultural exports to South Korea. Highlighted in the chart above, U.S. agricultural product exports were a record $9.5 billion in 2022, up 2 percent from 2021. South Korea is the sixth largest export market for the United States, thanks in part to a successful free trade agreement (KORUS) between the two countries and a robust demand for high-quality U.S. food products.

Customs tariffs for walnuts and almonds from all origins have increased to 15 percent. The 10 percent Section 232 retaliatory tax on U.S.-originated walnuts and almonds continues.

In marketing year (MY) 2023/24, Post estimates walnut production to increase by 3.1 percent and reach 198,000 metric tons (MT).

FAS China forecasts commercial production of in-shell walnuts to remain unchanged from the previous year at 1.4 MMT in MY 2023/24. Cold winter temperatures in Xinjiang damaged the almond crop this year.

The “off-year” for production will push Turkiye’s pistachio production lower in Marketing Year (MY) 2023/24. The production of almonds and walnuts is forecast slightly higher but hazelnut production is expected to go down.

In 2022, the European Union (EU)-27 imported $6.8 billion in tree nuts from the world. The EU remains a net importer of tree nuts for all products since demand highly exceeds domestic production.

FAS New Delhi (Post) forecasts India’s market year (MY) 2023/2024 (August-July) almond production lower at 4,200 metric tons (MT) (kernel-weight basis), 800 MT lower compared to the U.S. Department of Agriculture (USDA) official MY 2022/2023 estimate of 5,000 MT.

On September 5, 2023, and just in time for the G20 New Delhi Leaders’ Summit, India’s Ministry of Finance issued Notification No. 53/2023 (Customs), officially notifying the lifting of retaliatory tariffs imposed in 2019 on U.S.-origin almonds, apples, chickpeas, lentils, and walnuts effective September 6, 2023.

The State Administration for Market Regulation issued the General Quality Standard for Nut and Seed Food, which will come into force on August 1, 2023.

Malaysia was the 26th-largest export destination for U.S. agricultural products in 2022, totaling nearly $1.1 billion in value, and is a top prospect for exports of food and beverage ingredients because of its large and growing food processing industry.

Post forecasts Ukraine’s walnut production at 106,500 metric tons for marketing year (MY) 2023/24, similar to MY2022/23. Production fell in 2022 because some production areas are currently in occupied territory at the time of the report writing.