Following the success of blueberries, grapes, and cocoa, Peru is exploring new crops to replicate this achievement. One of the most promising international segments is nuts, a market that reached approximately $66 billion in 2024, far surpassing the markets for fresh blueberries ($6.7 billion), grapes ($12.6 billion), and avocados ($9.3 billion).
Nuts are projected to grow at an annual rate of nearly 5.5% over the next eight years, pushing the overall market value beyond $112 billion by 2033. The trend toward healthy eating, along with the increasing popularity of related products, drives this growth. However, production remains susceptible to weather conditions, especially in countries with less developed systems.
In Peru, nuts still account for a minor portion of exports. Brazil nuts are the only ones with significant shipments (around $40 million), although efforts are underway to boost production of other nuts. The potential is high: Peru has experience with intensive farming in dry areas, drip irrigation technology, and strong trade links with major markets. For example, China produces about 800,000 tons of nuts but needs to import an additional 500,000 tons to meet its demand. California, with similar agro-climatic conditions to regions like Piura, is its main supplier.
Almonds are the most traded nut, with exports valued at $7.26 billion in 2024 and a global production of 1.5 million tons. The United States dominates the market, accounting for 66.5% of exports ($4.8 billion), followed by Spain (13.4%) and Australia (6.5%).
Production models differ by region. In California and Australia, large mechanized farms and intensive drip irrigation are common. In Spain, production is more fragmented, mostly involving small family farms organized into cooperatives. This often results in less uniform quality and greater water resource pressure. The most demanded varieties are Nonpareil and Carmel (U.S.), compared to Marcona and Largueta (Spain), which are more weather-sensitive. Last season, drought reduced Spain's production by nearly 19%. In California, the impact was less severe, thanks to technological efficiency.
Cashew nut exports totaled $7.548 billion in 2024. Vietnam accounts for nearly half of the global trade, followed by Côte d'Ivoire with 16%. Production is mainly dependent on small farmers, but large agribusinesses process and export their products.
Pistachio exports generated over $4.485 billion. The U.S. led with 56%, followed by Iran with nearly 15%. China is the top buyer, importing over $869 million worth. Production occurs on large, mechanized plantations in California and in mixed systems in countries such as Iran and Turkey.
Other nuts complete the overview: Walnuts ($3.586 billion), hazelnuts ($2.545 billion), Brazil nuts ($346 million), and chestnuts ($287 million). The wide variety of crops indicates multiple entry points for expansion.
Expanding into nuts presents a strategic opportunity for Peru, especially as it faces oversupply and declining prices in some of its primary exports.
Source: freshfruit.pe