Almonds market in Southern Asia

Earlier Report Observations

The almond market in Southern Asia began the period at 270.5 thousand tons in 2018, supported by substantial domestic production and growing imports from the United States. Almonds gained popularity due to their alignment with dietary trends like paleo and plant-based diets, and new product forms such as almond butter and almond milk began to expand market segments. By 2020, however, the market volume declined to 224.5 thousand tons, primarily due to significant disruptions in global almond trade and supply chains caused by the COVID-19 pandemic.

Market volume continued to contract, reaching a low of 182.6 thousand tons in 2022. This was driven by a sustained decline in domestic production, which fell to 182.2 thousand tons that year. A key factor constraining the market was reduced almond output in California, the main supplier to the region, which led to higher prices and tighter import supply. Despite these challenges, U.S. almonds maintained a dominant share of imports, with India absorbing volumes redirected due to U.S.-China trade tensions.

In 2023, the market rebounded to 230.9 thousand tons, fueled by a recovery in domestic production to 213.1 thousand tons and a sharp rise in imports to 40.9 thousand tons. This growth was supported by the expansion of the plant-based dairy alternatives market and increasing health consciousness among consumers, which boosted demand for almond-based products. The government's focus on food processing also created opportunities for value-added almond products like flour, butter, and oil.

Production almonds in Southern Asia

In kind, 2017-2020, K t

Top producers of almonds, 2017-2020

World map of production of almonds, 2017-2020

Southern Asia's almond production declined for the second year in a row. In 2020, the region produced 213.0 K t of almonds, marking a 13.5% decrease from the previous year. Looking at the period from 2017 to 2020, production overall increased by 14.7%, which translates to an average annual growth rate of 4.7%. The highest production level was recorded in 2018 at 269.0 K t, with the largest year-on-year increase of 44.9% also occurring that year.

Annual dynamics of production in Southern Asia in kind, 2017-2020, K t

Exports almonds from Southern Asia

Exports in kind, t

The market showed significant fluctuations during this period. Export levels varied considerably, with a 3.3-fold difference between the low of 3 471 t in 2018 and the high of 11 549 t in 2019. In 2020, Southern Asia exported 4 442 t of almonds, which represents a sharp decline of 61.5% compared to the previous year. The largest increase was recorded in 2019 at 232.8%.

Annual dynamics of product's exports from Southern Asia in kind, 2017-2020, t

From 2017 to 2020, Southern Asia's almond exports in kind were distributed across a diverse range of partner countries. Turkey accounted for 12.7% of these exports, followed by the United Arab Emirates at 4.2% and Germany at 3.6%. Together, these three countries made up just 20.4% of the total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Southern Asia in kind, 2017-2020

Exports in value, K $ US

Almond export volumes from Southern Asia increased for the second consecutive year. In 2020, the export value reached 68 983 K $ US, showing a moderate rise of 9.0% compared to the previous year. Over the period from 2017 to 2020, however, exports decreased by 15.3%, averaging an annual decline of 5.4%. The lowest value was recorded in 2018 at 52 735 K $ US, which saw the largest decline of 35.3%. In contrast, the largest increase occurred in 2019 at 20.0%.

Annual dynamics of product's exports from Southern Asia in value, 2017-2020, K $ US

During 2017–2020, Southern Asia's almond exports in value terms were spread across numerous markets. Turkey led with 17.4% of the export value, followed by Germany at 4.9% and the United Arab Emirates at 4.8%. Collectively, these three countries accounted for only 27.1% of the total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Southern Asia in value, 2017-2020

Imports almonds to Southern Asia

Imports in kind, t

The market displayed an unstable trend throughout the timeframe. Import levels reached their lowest point in 2018 at 5 005 t and peaked in 2020 at 15 892 t, showing a 3.2-fold difference between these years. In 2020, almond imports into Southern Asia amounted to 15 892 t, which is 211.3% higher than in 2019. The largest decline was recorded in 2018 at 62.1%.

Annual dynamics of product's imports to Southern Asia in kind, 2017-2020, t

From 2017 to 2020, the United States was the dominant source for almond imports in kind to Southern Asia, accounting for 68.3% of the total. The United Arab Emirates contributed 11.6%, and Hong Kong made up 9.3%. Together, these three markets represented 89.1% of all import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Southern Asia in kind, 2017-2020

Imports in value, K $ US

The market exhibited an unstable trend throughout the period. Import values bottomed out in 2018 at 15 844 K $ US and peaked in 2020 at 58 556 K $ US, with a 3.7-fold amplitude between these extremes. In 2020, almond deliveries to Southern Asia totaled 58 556 K $ US, reflecting a dramatic increase of 209.2% compared to 2019. The largest decline was recorded in 2018 at 65.4%.

Annual dynamics of product's imports to Southern Asia in value, 2017-2020, K $ US

Throughout 2017–2020, the United States and the United Arab Emirates were the key partners for almond imports in value terms to Southern Asia, together accounting for 80.6% of total flows. Other countries made up the remaining share.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Southern Asia in value, 2017-2020