Dominican Republic: Cashew Nut Market 2024

Cashew Nut Market Size in the Dominican Republic

In 2022, the Dominican cashew nut market increased by less than X% to $X, rising for the second consecutive year after three years of decline. In general, consumption continues to indicate a slight setback. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Cashew Nut Production in the Dominican Republic

In value terms, cashew nut production declined slightly to $X in 2022 estimated in export price. Overall, production showed a slight decline. The pace of growth was the most pronounced in 2017 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

The average yield of cashew nuts in the Dominican Republic fell slightly to X kg per ha in 2022, reducing by X% on 2021. Over the period under review, the yield continues to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, the yield attained the peak level of X kg per ha. From 2015 to 2022, the growth of the average cashew nut yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of cashew nuts were harvested in the Dominican Republic; growing by X% compared with 2021 figures. The harvested area increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 with an increase of X%. As a result, the harvested area attained the peak level of X ha. From 2020 to 2022, the growth of the cashew nut harvested area failed to regain momentum.

Cashew Nut Exports

Exports from the Dominican Republic

In 2022, approx. X kg of cashew nuts were exported from the Dominican Republic; remaining stable against the previous year's figure. Over the period under review, exports saw a significant expansion. The smallest decline of X% was in 2018. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, cashew nut exports stood at $X in 2022. In general, exports enjoyed significant growth. The smallest decline of X% was in 2018. The exports peaked in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Turks and Caicos Islands (X kg) was the main destination for cashew nut exports from the Dominican Republic, with a approx. X% share of total exports.

From 2017 to 2022, the average annual rate of growth in terms of volume to Turks and Caicos Islands was relatively modest.

From 2017 to 2022, the average annual growth rate of value to Turks and Caicos Islands was relatively modest.

Export Prices by Country

In 2022, the average cashew nut export price amounted to $X per ton, approximately reflecting the previous year. Over the period under review, the export price enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2018 a decrease of X% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Turks and Caicos Islands.

From 2017 to 2022, the rate of growth in terms of prices for Cuba amounted to X% per year.

Cashew Nut Imports

Imports into the Dominican Republic

In 2022, overseas purchases of cashew nuts increased by X% to X tons, rising for the fifth consecutive year after two years of decline. Over the period under review, imports enjoyed resilient growth. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, cashew nut imports surged to $X in 2022. Overall, imports saw a significant expansion. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) was the main cashew nut supplier to the Dominican Republic, accounting for a X% share of total imports. Moreover, cashew nut imports from the United States exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from the United States totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Canada (X% per year).

In value terms, the United States ($X) constituted the largest supplier of cashew nuts to the Dominican Republic, comprising X% of total imports. The second position in the ranking was held by Canada ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (X% per year) and Vietnam (X% per year).

Import Prices by Country

The average cashew nut import price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the import price posted a resilient increase. The growth pace was the most rapid in 2013 an increase of X%. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Canada ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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