Portugal: Cashew Nut Market Overview 2021

Cashew Nut Market Size in Portugal

In 2019, the Portuguese cashew nut market increased by X% to $X for the first time since 2016, thus ending a two-year declining trend. Overall, consumption saw significant growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Cashew Nut Exports

Exports from Portugal

In 2019, approx. X kg of cashew nuts were exported from Portugal; waning by -X% compared with 2018 figures. In general, exports saw a deep setback. The pace of growth appeared the most rapid in 2018 when exports increased by X% year-to-year. As a result, exports reached the peak of X tonnes, and then contracted remarkably in the following year.

In value terms, cashew nut exports dropped rapidly to $X in 2019. Over the period under review, exports faced a dramatic contraction. The pace of growth was the most pronounced in 2018 with an increase of X% year-to-year. As a result, exports attained the peak of $X, and then shrank markedly in the following year.

Exports by Country

Spain (X kg) was the main destination for cashew nut exports from Portugal, accounting for a approx. X% share of total exports.

From 2007 to 2019, the average annual rate of growth in terms of volume to Spain stood at -X%.

From 2007 to 2019, the average annual growth rate of value to Spain stood at -X%.

Export Prices by Country

In 2019, the average cashew nut export price amounted to $X per tonne, rising by X% against the previous year. Over the period under review, the export price, however, showed a abrupt contraction. The export price peaked at $X per tonne in 2009; however, from 2010 to 2019, export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Spain.

From 2007 to 2019, the rate of growth in terms of prices for Spain amounted to +X% per year.

Cashew Nut Imports

Imports into Portugal

In 2019, the amount of cashew nuts imported into Portugal surged to X tonnes, increasing by X% on 2018 figures. In general, imports saw a resilient increase. The pace of growth was the most pronounced in 2016 when imports increased by X% against the previous year. Imports peaked in 2019 and are likely to continue growth in the immediate term.

In value terms, cashew nut imports surged to $X in 2019. Over the period under review, imports continue to indicate strong growth. The most prominent rate of growth was recorded in 2016 when imports increased by X% y-o-y. Over the period under review, imports hit record highs in 2019 and are likely to continue growth in the immediate term.

Imports by Country

In 2019, Ghana (X tonnes) was the main cashew nut supplier to Portugal, accounting for a X% share of total imports. Moreover, cashew nut imports from Ghana exceeded the figures recorded by the second-largest supplier, the UK (X tonnes), more than tenfold.

From 2007 to 2019, the average annual rate of growth in terms of volume from Ghana was relatively modest.

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

From 2007 to 2019, the average annual rate of growth in terms of value from Ghana was relatively modest.

Import Prices by Country

The average cashew nut import price stood at $X per tonne in 2019, surging by X% against the previous year. In general, import price indicated a moderate expansion from 2007 to 2019: its price increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, cashew nut import price increased by +X% against 2013 indices. The growth pace was the most rapid in 2014 an increase of X% y-o-y. Over the period under review, average import prices hit record highs in 2019 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2019, the country with the highest price was Ghana ($X per tonne), while the price for the UK totaled $X per tonne.

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

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

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

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India (1.6M tonnes) remains the largest cashew nut consuming country worldwide, comprising approx. 43% of total volume. Moreover, cashew nut consumption in India exceeded the figures recorded by the second-largest consumer, Viet Nam (501K tonnes), threefold. Burundi (283K tonnes) ranked third in terms of total consumption with a 7.6% share.

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

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The countries with the highest volumes of cashew nut production in 2019 were Cote d'Ivoire (793K tonnes), India (743K tonnes) and Ghana (321K tonnes), with a combined 41% share of global production. Burundi, Viet Nam, the Philippines, Nigeria, Tanzania, Benin, Mali, Guinea-Bissau, Brazil and Burkina Faso lagged somewhat behind, together accounting for a further 46%.

What are the leading suppliers of cashew nuts to Portugal?

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In value terms, Ghana ($283K) constituted the largest supplier of cashew nut to Portugal, comprising 97% of total imports. The second position in the ranking was occupied by the UK ($5.2K), with a 1.8% share of total imports.

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

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In 2019, the average cashew nut export price amounted to $4,842 per tonne, with an increase of 67% against the previous year.

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

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The average cashew nut import price stood at $5,864 per tonne in 2019, growing by 6.8% against the previous year.