Asia-Pacific: Cashew Nut Market 2024

Cashew Nut Market Size in Asia-Pacific

The Asia-Pacific cashew nut market reduced to $X in 2022, waning by X% against the previous year. Over the period under review, consumption, however, continues to indicate a resilient expansion. As a result, consumption attained the peak level of $X, and then fell in the following year.

Cashew Nut Production in Asia-Pacific

In value terms, cashew nut production expanded modestly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a prominent increase. 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 attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

The countries with the highest volumes of production in 2022 were India (X tons), Vietnam (X tons) and the Philippines (X tons), with a combined X% share of total production.

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

The average cashew nut yield contracted modestly to X kg per ha in 2022, flattening at the previous year. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 when the yield increased by X% against the previous year. Over the period under review, the cashew nut yield reached the peak level at X kg per ha in 2021, and then fell modestly 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.

The cashew nut harvested area reduced slightly to X ha in 2022, stabilizing at the year before. In general, the harvested area, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid 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 contracted slightly in the following year.

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Cashew Nut Exports

Exports in Asia-Pacific

In 2022, shipments abroad of cashew nuts decreased by X% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports recorded a pronounced decline. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, cashew nut exports fell markedly to $X in 2022. Overall, exports showed a deep reduction. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Indonesia represented the main exporting country with an export of around X tons, which recorded X% of total exports. Cambodia (X tons) ranks second in terms of the total exports with a X% share, followed by India (X%), Vietnam (X%) and Thailand (X%). The following exporters - Lao People's Democratic Republic (X tons) and Hong Kong SAR (X tons) - each accounted for a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to cashew nut exports from Indonesia stood at X%. 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-Pacific, with a CAGR of X% from 2012-2022. By contrast, Cambodia (X%) illustrated a downward trend over the same period. While the share of 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.) increased significantly in terms of the total exports from 2012-2022, the share of Indonesia (X p.p.) and Cambodia (X p.p.) displayed negative dynamics.

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

From 2012 to 2022, the average annual rate of growth in terms of value in Indonesia totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Cambodia (X% per year) and India (X% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, almost unchanged from the previous year. Over the period under review, the export price, however, saw a slight curtailment. The most prominent rate of growth was recorded in 2017 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: 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-Pacific

In 2022, approx. X tons of cashew nuts were imported in Asia-Pacific; which is down by X% against 2021 figures. Overall, imports, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X tons, and then shrank in the following year.

In value terms, cashew nut imports dropped to $X in 2022. Over the period under review, imports, however, continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then fell in the following year.

Imports by Country

Vietnam (X tons) and India (X tons) represented roughly X% of total imports in 2022.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of X%).

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

Vietnam, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review.

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, flattening at the previous year. Import price indicated tangible 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 was the most pronounced in 2017 an increase of 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 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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