The consumption of seeds and nuts is increasing steadily. As seeds and nuts consist of nutrients such as proteins, fiber, folate, and several essential minerals, they are consumed on a large scale across all regions. Use of seeds in several cooking oils, condiments, and several types of spices will enable rapid development of the global nuts and seeds market during the forecast period. Over the past few years, there have been changes in the consumption pattern of nuts and seeds amongst people from all over the world. Some of the positive effects of nuts and seeds on the human body are reduced chances of heart diseases, prevention of diabetes, reduced blood cholesterol, and others. The growing demand for genetically modified crops will also help the global nuts and seeds market during the forecast period according to Transparency Market Research.
Global almond production for 2017/18 is forecast 6 percent higher to a record 1.3 million metric tons shelled basis on record output in the United States, Australia, and the European Union. Similarly, global consumption is expected to continue expanding to a record 1.2 million tons. Global exports are expected to rise 4 percent to a record 766,000 tons on strong shipments to the European Union, China, and India. World ending stocks are forecast nearly unchanged at 233,000 tons as inventories in the United States remain elevated. United States production is forecast up 5 percent to a record 1.0 million tons on continued area expansion, although yields are expected to drop slightly. The bloom was extended due to cold temperatures.
Significant rains before and during bloom made application of dormant and bloom sprays more difficult. While excessive rain complicated orchard work, it was a welcome relief from years of drought. As nuts continued to develop, a heat wave in June caused growers to irrigate day and night. However, reports indicate that the heat wave did not cause much damage to the trees, with stress alleviated by irrigation. Exports are vital, accounting for two-thirds of output and are forecast to rise 4 percent to a record 675,000 tons on expanded shipments to the European Union and India. Even so, ending stocks are expected to remain elevated at 183,000 tons. World walnut production and consumption for 2017/18 are each forecast lower to 2.1 million tons in shell basis on lower output in China and the United States.
Global exports, dominated by the United States, are expected up 6 percent to 755,000 tons. World ending stocks are forecast to continue sliding lower for three consecutive years after peaking in 2014/15. United States production is forecast down 5 percent to 590,000 tons as lower yields more than offset greater area. The season began with adequate chilling hours and record amounts of rain during the winter and spring months. There were reports of orchards being saturated for several weeks which resulted in a compromised root system. A higher than-average insect problem was also reported. During the excessive heat waves over the summer, growers applied sunburn prevention materials. Consumption is expected to drop 21 percent to a more normal 150,000 tons following last year’s massive jump. Exports account for a substantial portion of output and are forecast 3 percent higher to a record 475,000 tons primarily on rebounding shipments to China, Hong Kong, and Vietnam. Ending stocks are expected to tighten for a third consecutive year.