Ghana: Cashew Nut Market Overview 2021

Cashew Nut Market Size in Ghana

In 2019, the Ghanian cashew nut market decreased by -X% to $X, falling for the second year in a row after three years of growth. In general, consumption saw a pronounced contraction. The most prominent rate of growth was recorded in 2017 when the market value increased by X% against the previous year. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2019, consumption stood at a somewhat lower figure.

Cashew Nut Production in Ghana

In value terms, cashew nut production contracted slightly to $X in 2019 estimated in export prices. In general, production continues to indicate resilient growth. The pace of growth appeared the most rapid in 2008 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2019, production failed to regain the momentum.

The average yield of cashew nuts in Ghana declined modestly to X tonnes per ha in 2019, shrinking by -X% against 2018 figures. Over the period under review, the yield, however, recorded a strong increase. The most prominent rate of growth was recorded in 2008 when the yield increased by X% against the previous year. Over the period under review, the average cashew nut yield attained the maximum level at X tonnes per ha in 2013; however, from 2014 to 2019, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2019, the harvested area of cashew nuts in Ghana expanded sharply to X ha, with an increase of X% compared with 2018. Over the period under review, the harvested area enjoyed resilient growth. The most prominent rate of growth was recorded in 2016 when the harvested area increased by X% against the previous year. The cashew nut harvested area peaked at X ha in 2017; however, from 2018 to 2019, the harvested area stood at a somewhat lower figure.

Cashew Nut Exports

Exports from Ghana

In 2019, the amount of cashew nuts exported from Ghana was estimated at X tonnes, growing by X% on the previous year. In general, exports recorded a significant increase. The pace of growth appeared the most rapid in 2008 when exports increased by X% against the previous year. Over the period under review, exports attained the peak figure in 2019 and are expected to retain growth in years to come.

In value terms, cashew nut exports fell to $X in 2019. Overall, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2008 with an increase of X% y-o-y. Exports peaked at $X in 2017; however, from 2018 to 2019, exports remained at a lower figure.

Exports by Country

Viet Nam (X tonnes) and India (X tonnes) were the main destinations of cashew nut exports from Ghana, together comprising X% of total exports.

From 2007 to 2019, the biggest increases were in Viet Nam.

In value terms, Viet Nam ($X) and India ($X) were the largest markets for cashew nut exported from Ghana worldwide, with a combined X% share of total exports.

Viet Nam recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

In 2019, the average cashew nut export price amounted to $X per tonne, shrinking by -X% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 an increase of X% year-to-year. Over the period under review, average export prices attained the peak figure at $X per tonne in 2012; however, from 2013 to 2019, export prices failed to regain the momentum.

Average prices varied noticeably for the major foreign markets. In 2019, the country with the highest price was India ($X per tonne), while the average price for exports to Viet Nam totaled $X per tonne.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to India.

Cashew Nut Imports

Imports into Ghana

In 2019, the amount of cashew nuts imported into Ghana contracted dramatically to X kg, with a decrease of -X% on 2018. Over the period under review, imports saw a dramatic curtailment. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tonnes in 2007; however, from 2008 to 2019, imports failed to regain the momentum.

In value terms, cashew nut imports shrank significantly to $X in 2019. Overall, imports showed a significant decline. The growth pace was the most rapid in 2017 with an increase of X% year-to-year. Over the period under review, imports reached the peak figure at $X in 2007; however, from 2008 to 2019, imports remained at a lower figure.

Imports by Country

In 2019, Lebanon (X kg) constituted the largest cashew nut supplier to Ghana, with a X% share of total imports. Moreover, cashew nut imports from Lebanon exceeded the figures recorded by the second-largest supplier, the U.S. (X kg), sixfold.

From 2007 to 2019, the average annual rate of growth in terms of volume from Lebanon totaled -X%.

In value terms, Lebanon ($X) constituted the largest supplier of cashew nut to Ghana, comprising X% of total imports. The second position in the ranking was occupied by the U.S. ($X), with a X% share of total imports.

From 2007 to 2019, the average annual rate of growth in terms of value from Lebanon totaled -X%.

Import Prices by Country

In 2019, the average cashew nut import price amounted to $X per tonne, declining by -X% against the previous year. Overall, the import price, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2012 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the maximum at $X per tonne in 2016; however, from 2017 to 2019, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2019, the country with the highest price was Lebanon ($X per tonne), while the price for the U.S. totaled $X per tonne.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Lebanon.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for cashew nuts in the world?

+

The countries with the highest volumes of cashew nut consumption in 2019 were Viet Nam (2.1M tonnes), India (1.5M tonnes) and the Philippines (243K tonnes), together accounting for 74% of global consumption. These countries were followed by Mali, Guinea-Bissau, Benin, Brazil, Cote d'Ivoire, Mozambique and Indonesia, which together accounted for a further 19%.

What are the largest producers of cashew nuts in the world?

+

The countries with the highest volumes of cashew nut production in 2019 were Viet Nam (1.5M tonnes), India (803K tonnes) and Cote d'Ivoire (747K tonnes), with a combined 56% share of global production. These countries were followed by Tanzania, the Philippines, Ghana, Benin, Mali, Guinea-Bissau, Guinea, Brazil, Indonesia and Mozambique, which together accounted for a further 35%.

What are the leading suppliers of cashew nuts to Ghana?

+

In value terms, Lebanon ($90) constituted the largest supplier of cashew nut to Ghana, comprising 88% of total imports. The second position in the ranking was occupied by the U.S. ($12), with a 12% share of total imports.

What are the leading importers of cashew nuts from Ghana?

+

In value terms, Viet Nam ($143M) and India ($80M) constituted the largest markets for cashew nut exported from Ghana worldwide, with a combined 100% share of total exports.

What is the average export price for cashew nuts in Ghana?

+

The average cashew nut export price stood at $941 per tonne in 2019, falling by -11.4% against the previous year.

What is the average import price for cashew nuts in Ghana?

+

The average cashew nut import price stood at $773 per tonne in 2019, falling by -7.9% against the previous year.