Global Cashew Nut Market Overview 2021

Cashew Nut Market Size

After two years of decline, the global cashew nut market increased by X% to $X in 2020. The market value increased at an average annual rate of +X% from 2007 to 2020; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2008 when the market value increased by X% y-o-y. Over the period under review, the global market hit record highs at $X in 2011; however, from 2012 to 2020, consumption stood at a somewhat lower figure.

Cashew Nut Production

In value terms, cashew nut production declined to $X in 2020 estimated in export prices. In general, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by X% year-to-year. Over the period under review, global production hit record highs at $X in 2011; however, from 2012 to 2020, production failed to regain the momentum.

The countries with the highest volumes of cashew nut production in 2020 were Cote d'Ivoire (X tonnes), India (X tonnes) and Ghana (X tonnes), with a combined X% share of global production. These countries were followed by Viet Nam, the Philippines, Tanzania, Benin, Mali, Guinea-Bissau, Burkina Faso, Brazil, Indonesia and Mozambique, which together accounted for a further X 2007 to 2020, the most notable rate of growth in terms of cashew nut production, amongst the leading producing countries, was attained by Burkina Faso, while cashew nut production for the other global leaders experienced more modest paces of growth.

In 2020, the global average cashew nut yield shrank to X kg per ha, waning by -X% on 2019. In general, the yield continues to indicate a mild downturn. The pace of growth appeared the most rapid in 2008 with an increase of X% y-o-y. As a result, the yield reached the peak level of X kg per ha. From 2009 to 2020, the growth of the average cashew nut yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2020, the global harvested area of cashew nuts amounted to X ha, remaining relatively unchanged against the previous year. The harvested area increased at an average annual rate of +X% from 2007 to 2020; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 with an increase of X% y-o-y. Over the period under review, the harvested area dedicated to cashew nut production reached the maximum in 2020 and is expected to retain growth in the near future.

Production By Country

The countries with the highest volumes of cashew nut production in 2020 were Cote d'Ivoire (X tonnes), India (X tonnes) and Ghana (X tonnes), together accounting for X% of global production. These countries were followed by Viet Nam, the Philippines, Tanzania, Benin, Mali, Guinea-Bissau, Burkina Faso, Brazil, Indonesia and Mozambique, which together accounted for a further X 2007 to 2020, the biggest increases were in Burkina Faso, while cashew nut production for the other global leaders experienced more modest paces of growth.

Cashew Nut Exports

Exports

In 2020, shipments abroad of cashew nuts decreased by -X% to X tonnes for the first time since 2017, thus ending a two-year rising trend. In general, exports, however, posted resilient growth. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, exports reached the peak of X tonnes, and then contracted notably in the following year.

In value terms, cashew nut exports shrank significantly to $X in 2020. Overall, exports, however, recorded a buoyant expansion. The growth pace was the most rapid in 2011 when exports increased by X% against the previous year. Global exports peaked at $X in 2016; however, from 2017 to 2020, exports remained at a lower figure.

Exports by Country

Cote d'Ivoire represented the major exporter of cashew nuts in the world, with the volume of exports finishing at X tonnes, which was near X% of total exports in 2020. Benin (X tonnes) ranks second in terms of the total exports with a X% share, followed by Tanzania (X%), Ghana (X%), Guinea-Bissau (X%) and Indonesia (X%). Nigeria (X tonnes) followed a long way behind the leaders.

From 2007 to 2020, average annual rates of growth with regard to cashew nut exports from Cote d'Ivoire stood at +X%. At the same time, Ghana (+X%), Nigeria (+X%), Tanzania (+X%), Benin (+X%) and Indonesia (+X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing exporter exported in the world, with a CAGR of +X% from 2007-2020. Guinea-Bissau experienced a relatively flat trend pattern. From 2007 to 2020, the share of Cote d'Ivoire, Ghana, Benin and Tanzania increased by +X%, +X%, +X% and +X% percentage points, while Indonesia (-X p.p.) and Guinea-Bissau (-X p.p.) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) remains the largest cashew nut supplier worldwide, comprising X% of global exports. The second position in the ranking was occupied by Tanzania ($X), with a X% share of global exports. It was followed by Benin, with a X% share.

In Cote d'Ivoire, cashew nut exports increased at an average annual rate of +X% over the period from 2007-2020. In the other countries, the average annual rates were as follows: Tanzania (+X% per year) and Benin (+X% per year).

Export Prices by Country

The average cashew nut export price stood at $X per tonne in 2020, remaining constant against the previous year. In general, export price indicated a perceptible increase from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, cashew nut export price decreased by -X% against 2017 indices. The pace of growth appeared the most rapid in 2016 an increase of X% y-o-y. Over the period under review, average export prices reached the peak figure at $X per tonne in 2017; however, from 2018 to 2020, export prices failed to regain the momentum.

Average prices varied somewhat amongst the major exporting countries. In 2020, major exporting countries recorded the following prices: in Tanzania ($X per tonne) and Indonesia ($X per tonne), while Nigeria ($X per tonne) and Benin ($X per tonne) were amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire, while the other global leaders experienced more modest paces of growth.

Cashew Nut Imports

Imports

In 2020, supplies from abroad of cashew nuts was finally on the rise to reach X tonnes after three years of decline. Over the period under review, imports posted prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, cashew nut imports totaled $X in 2020. Overall, imports posted a resilient expansion. The most prominent rate of growth was recorded in 2011 with an increase of X% year-to-year. Over the period under review, global imports hit record highs at $X in 2016; however, from 2017 to 2020, imports stood at a somewhat lower figure.

Imports by Country

India prevails in cashew nut imports structure, recording X tonnes, which was approx. X% of total imports in 2020. It was distantly followed by Viet Nam (X tonnes), comprising a X% share of total imports. China (X tonnes) occupied a little share of total imports.

From 2007 to 2020, average annual rates of growth with regard to cashew nut imports into India stood at +X%. At the same time, China (+X%) and Viet Nam (+X%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in the world, with a CAGR of +X% from 2007-2020. While the share of India (+X p.p.) and China (+X p.p.) increased significantly in terms of the global imports from 2007-2020, the share of Viet Nam (-X p.p.) displayed negative dynamics.

In value terms, India ($X) constitutes the largest market for imported cashew nuts worldwide, comprising X% of global imports. The second position in the ranking was occupied by Viet Nam ($X), with a X% share of global imports.

From 2007 to 2020, the average annual rate of growth in terms of value in India stood at +X%. The remaining importing countries recorded the following average annual rates of imports growth: Viet Nam (+X% per year) and China (+X% per year).

Import Prices by Country

In 2020, the average cashew nut import price amounted to $X per tonne, reducing by -X% against the previous year. Over the period under review, the import price continues to indicate a abrupt curtailment. The pace of growth appeared the most rapid in 2017 when the average import price increased by X% year-to-year. Global import price peaked at $X per tonne in 2018; however, from 2019 to 2020, import prices failed to regain the momentum.

Prices varied noticeably by the country of destination; the country with the highest price was Viet Nam ($X per tonne), while China ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Viet Nam, while the other global leaders experienced a decline in the import price figures.

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, accounting for 44% of total volume. Moreover, cashew nut consumption in India exceeded the figures recorded by the second-largest consumer, Viet Nam (348K tonnes), fivefold. The third position in this ranking was occupied by the Philippines (258K tonnes), with a 7% 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 2020 were Cote d'Ivoire (864K tonnes), India (754K tonnes) and Ghana (346K tonnes), together accounting for 47% of global production. Viet Nam, the Philippines, Tanzania, Benin, Mali, Guinea-Bissau, Burkina Faso, Brazil, Indonesia and Mozambique lagged somewhat behind, together accounting for a further 45%.

What are the leading suppliers of cashew nuts in the world?

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In value terms, Cote d'Ivoire ($845M) remains the largest cashew nut supplier worldwide, comprising 45% of global exports. The second position in the ranking was occupied by Tanzania ($221M), with a 12% share of global exports. It was followed by Benin, with a 9.6% share.

What are the leading importers of cashew nuts in the world?

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In value terms, India ($1.1B) constitutes the largest market for imported cashew nuts worldwide, comprising 63% of global imports. The second position in the ranking was occupied by Viet Nam ($535M), with a 31% share of global imports.

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

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The average cashew nut export price stood at $1,278 per tonne in 2020, almost unchanged from the previous year.

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

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The average cashew nut import price stood at $1,781 per tonne in 2020, which is down by -80.1% against the previous year.