Thailand: Cashew Nut Market 2024

Cashew Nut Market Size in Thailand

In 2022, after two years of decline, there was significant growth in the Thai cashew nut market, when its value increased by X% to $X. In general, consumption, however, showed a mild slump. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Cashew Nut Production in Thailand

In value terms, cashew nut production dropped to $X in 2022 estimated in export price. Overall, production recorded a strong expansion. The growth pace was the most rapid in 2015 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

The average yield of cashew nuts in Thailand stood at X tons per ha in 2022, approximately reflecting the previous year. Over the period under review, the yield continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X%. The cashew nut yield peaked at X tons per ha in 2017; however, from 2018 to 2022, 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 2022, the total area harvested in terms of cashew nuts production in Thailand declined modestly to X ha, approximately equating the previous year's figure. Overall, the harvested area continues to indicate a slight decline. The most prominent rate of growth was recorded in 2018 when the harvested area increased by X%. The cashew nut harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area failed to regain momentum.

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Cashew Nut Exports

Exports from Thailand

In 2022, shipments abroad of cashew nuts decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. The exports peaked at X tons in 2021, and then reduced remarkably in the following year.

In value terms, cashew nut exports reduced to $X in 2022. Over the period under review, exports, however, saw a significant expansion. The growth pace was the most rapid in 2014 with an increase of X%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Cambodia (X tons) was the main destination for cashew nut exports from Thailand, with a X% share of total exports. Moreover, cashew nut exports to Cambodia exceeded the volume sent to the second major destination, India (X tons), twofold. Vietnam (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Cambodia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (X% per year) and Vietnam (X% per year).

In value terms, the largest markets for cashew nut exported from Thailand were Cambodia ($X), India ($X) and Vietnam ($X), together accounting for X% of total exports.

Cambodia, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average cashew nut export price stood at $X per ton in 2022, surging by X% against the previous year. In general, the export price posted a resilient increase. The pace of growth appeared the most rapid in 2015 an increase of X%. Over the period under review, the average export prices reached the maximum at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Lao People's Democratic Republic (X%), while the prices for the other major destinations experienced mixed trend patterns.

Cashew Nut Imports

Imports into Thailand

In 2022, cashew nut imports into Thailand shrank notably to X tons, dropping by X% compared with 2021. In general, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of X%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, cashew nut imports reduced dramatically to $X in 2022. Over the period under review, imports saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Lao People's Democratic Republic (X tons) and Myanmar (X tons) were the main suppliers of cashew nut imports to Thailand.

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

In value terms, Lao People's Democratic Republic ($X) constituted the largest supplier of cashew nuts to Thailand, comprising X% of total imports. The second position in the ranking was taken by Myanmar ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Lao People's Democratic Republic was relatively modest.

Import Prices by Country

The average cashew nut import price stood at $X per ton in 2022, reducing by X% against the previous year. Overall, the import price showed a pronounced decrease. The growth pace was the most rapid in 2016 when the average import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Lao People's Democratic Republic ($X per ton), while the price for Myanmar stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cambodia (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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