In 2023, the European Union (EU)-27 imported $6.5 billion in tree nuts from the world. The EU remains a net importer of tree nuts for all products as demand highly exceeds domestic production. The United States is the largest EU-27 tree nuts supplier, providing $2.4 billion worth of nuts, or 37 percent of total imports. Nuts continue to benefit from their positive image as a healthy snack and a good source of all macronutrients, including carbohydrates, healthy fats and protein. Consumers are also paying more attention to the origin of what they eat, seeking out locally grown products, including nuts. More eco-friendly production, packaging, and distribution are becoming more popular among European consumers, particularly in the northern countries.
FAS/Wellington 2025 market year production forecast would be the highest annual production on record, If realized. In addition, post is forecasting that beef and veal exports in 2025 to also be the highest volume for New Zealand in a single year. This is anticipated to be driven by continued higher importer beef demand in the United States. The New Zealand national cattle herd has been decreasing year-on-year at 1 percent annually. This is anticipated to continue despite a stabilization in numbers in 2024. A primary factor contributing to the decline in recent years has been government policy impacting agriculture and land-use change. At the end of 2023, New Zealand changed its national government. The new government supported farmers strongly, removing pending policies of the previous government. low farm profitability is causing delays in repairs and maintenance, capital improvements, and innovation, forcing farm operations to take on more debt.
Rice export prices further dropped one percent from the previous week.
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