The import of in-shell walnuts to Canada has seen a general annual decline since 2013, with only minor fluctuations. In 2023, the value of imports stood at approximately $2.62 million USD. Year-on-year variations have largely shown reductions, notably a 5.68% decrease in 2023. The compound annual growth rate over the last five years up to 2023 is -7.46%, showcasing a decreasing trend in imports.
Future projections indicate a continual decline in imports, with a forecasted 5-year compound annual growth rate of -5.3% through 2028. By this time, the import value is expected to drop by approximately 23.84% from 2023 levels.
Future trends to watch for include: potential shifts in trade policies, changing consumer preferences towards local or alternative nut sources, and possible impacts of environmental regulations affecting walnut production globally.
