Asia: Cashew Nut Market 2024

Cashew Nut Market Size in Asia

The Asian cashew nut market dropped to $X in 2022, which is down by X% against the previous year. Overall, consumption, however, posted a buoyant expansion. As a result, consumption attained the peak level of $X, and then reduced in the following year.

Cashew Nut Production in Asia

In value terms, cashew nut production expanded slightly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a prominent expansion. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

The countries with the highest volumes of production in 2022 were India (X tons), Vietnam (X tons) and the Philippines (X tons), together accounting for X% of total production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by the Philippines (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

In 2022, the average yield of cashew nuts in Asia contracted modestly to X kg per ha, remaining relatively unchanged against the previous year. The yield figure increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2015 when the yield increased by X%. The level of yield peaked at X kg per ha in 2021, and then dropped slightly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of cashew nuts production in Asia fell to X ha, stabilizing at 2021 figures. In general, the harvested area, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the harvested area increased by X% against the previous year. The level of harvested area peaked at X ha in 2021, and then dropped slightly in the following year.

Cashew Nut Exports

Exports in Asia

In 2022, shipments abroad of cashew nuts decreased by X% to X tons, falling for the second consecutive year after two years of growth. In general, exports recorded a pronounced slump. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, cashew nut exports declined rapidly to $X in 2022. Overall, exports showed a perceptible contraction. The pace of growth was the most pronounced in 2017 when exports increased by X%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, Indonesia (X tons) represented the largest exporter of cashew nuts, comprising X% of total exports. It was distantly followed by Cambodia (X tons), India (X tons), Vietnam (X tons) and Thailand (X tons), together creating a X% share of total exports. The following exporters - Lao People's Democratic Republic (X tons) and Hong Kong SAR (X tons) - each recorded a X% share of total exports.

Exports from Indonesia decreased at an average annual rate of X% from 2012 to 2022. At the same time, Thailand (X%), Vietnam (X%), Hong Kong SAR (X%), Lao People's Democratic Republic (X%) and India (X%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. By contrast, Cambodia (X%) illustrated a downward trend over the same period. Vietnam (X p.p.), Thailand (X p.p.), India (X p.p.), Lao People's Democratic Republic (X p.p.) and Hong Kong SAR (X p.p.) significantly strengthened its position in terms of the total exports, while Indonesia and Cambodia saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, Indonesia ($X) remains the largest cashew nut supplier in Asia, comprising X% of total exports. The second position in the ranking was taken by Cambodia ($X), with a X% share of total exports. It was followed by India, with an X% share.

In Indonesia, cashew nut exports shrank by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Cambodia (X% per year) and India (X% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, increasing by X% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the export price increased by X%. The level of export peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the other leaders experienced more modest paces of growth.

Cashew Nut Imports

Imports in Asia

In 2022, approx. X tons of cashew nuts were imported in Asia; which is down by X% compared with 2021 figures. Overall, imports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports attained the peak of X tons, and then reduced in the following year.

In value terms, cashew nut imports contracted to $X in 2022. Over the period under review, imports, however, continue to indicate a buoyant expansion. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then reduced in the following year.

Imports by Country

The countries with the highest levels of cashew nut imports in 2022 were Vietnam (X tons) and India (X tons), together resulting at X% of total import.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Vietnam (with a CAGR of X%).

In value terms, the largest cashew nut importing markets in Asia were Vietnam ($X) and India ($X).

Vietnam, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review.

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, approximately equating the previous year. Import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cashew nut import price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2022, the import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while Vietnam amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%).

Source: IndexBox Platform

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