Russia expected to boost pine nut exports to over $55 mln by 2030

MOSCOW. April 10 (Interfax) - Russian exports of pine nuts could top $55 million by 2030, the Agriculture Ministry's Agroexport Center forecast in a report.

Russia is currently the world's largest pine nut exporter by volume. Exports of the nuts jumped 80% to 21,300 tonnes (in-shell and shelled) in 2022 and rose 29.9% in value to $38 million. Russian pine nut exports grew by an average of 10.2% annually by volume and 40.8% by value in 2018-2022.

In-shell pine nuts made up 79.9% of exports by volume in 2022 and shelled nuts made up the other 20.1%. However, shelled nuts accounted for 83.6% of exports by value.

The main market for Russian pine nuts in 2022 was China, which imported 18,500 tonnes worth $7.4 million, respectively 70% and 60% more than a year earlier; this amounted to 87.3% and 19.4% of Russian exports by volume and value, respectively. Exports to the Czech Republic jumped 120% to 1,300 tonnes and almost 60% to $20.8 million. These two countries together accounted for 93.2% of exports by value and 74.1% by value.

Exports to Germany, meanwhile, fell 48.2% to 200 tonnes and 51.4% to $4.7 million

In terms of prospects to increase pine nut exports, China will remain the key market, Agroexport said. Other markets seen as important are countries in the Persian Gulf, foremost Saudi Arabia, the United Arab Emirates and Kuwait, Eurasian Economic Union countries (Kazakhstan and Belarus) and Turkey.

Russia produced 12,300 tonnes of pine nuts in shelled weight in 2023, 0.8% less than in 2022. Nonetheless, production essentially recovered to the 2018 level after falling to 10,100 tonnes in 2019 and 9,000 tonnes in 2020.

Russia exports most of its pine nuts. Exports of shelled nuts totalled 9,100 tonnes in 2023, while domestic consumption rose 9.7% to about 3,400 tonnes. Imports are negligible, totalling 104.8 tonnes in 2022.

Russia will introduce an export duty on in-shell pine nuts (customs code 080291) in the amount of 25% but at least 80 euros per tonne as of August 1, 2024, Agroexport recalled. The duty will double to 50% but at least 160 euros per tonne on August 1, 2025. This measure is expected to encourage domestic processing of pine nuts.