Cashew nuts market in Eastern Asia

Earlier Report Observations

Between 2018 and 2023, the cashew nut market in Eastern Asia experienced strong growth, with volume expanding from 32 048 t to 74 477 t. This rise was initially fueled by a domestic supply shortage in China, which coincided with a 3% decline in global cashew production in 2019, necessitating increased imports. The market's expansion was further sustained by growing global demand for healthy snacks, driven by health-conscious and vegan dietary trends, which encouraged greater consumption.

Key developments facilitated this growth. The establishment of a 'green channel' for agricultural trade between China and Vietnam in late 2022 simplified export procedures, boosting Vietnamese cashew imports into the region. In 2023, Vietnam's own processing capacity and quality improvements led to a 17% rise in its exports. Conversely, a temporary ban on raw cashew exports from Côte d'Ivoire introduced supply volatility and price fluctuations during the same period, highlighting the market's dependence on global supply chains.

By 2024, import volumes moderated to 70 483 t. This adjustment occurred alongside increased global supply, particularly after Côte d'Ivoire lifted its export ban and Cambodia's production grew by 26%, making it the world's second-largest producer. Meanwhile, consumer demand for premium products continued, exemplified by the successful launch of high-protein, additive-free roasted cashews by major snack brands. Government policies in Cambodia aimed at attracting investment into processing facilities also signaled ongoing industry development.

Production cashew nuts in Eastern Asia

In kind, 2017-2020, t

Top producers of cashew nuts, 2017-2020

World map of production of cashew nuts, 2017-2020

In Eastern Asia, cashew nut production reached 225 tonnes in 2020, marking a slight decline of 2.6% from the previous year. Looking at the broader period from 2017 to 2020, production decreased by 3.8%, which translates to an annualized rate of 1.3%. The lowest production level was recorded in 2018 at 212 tonnes, with the largest year-on-year decline occurring that same year at 9.1%. In contrast, 2019 saw the biggest increase, with production rising by 8.6%.

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

In value, 2017-2020, K $ US

Cashew nut production in Eastern Asia declined for the third consecutive year. In 2020, the output was valued at 1 551 thousand US dollars, reflecting a limited decrease of 9.5% compared to 2019. Over the period from 2017 to 2020, production fell by 23.2%, with a compound annual growth rate (CAGR) of -8.4%.

Annual dynamics of production in Eastern Asia in value, 2017-2020, K $ US

Exports cashew nuts from Eastern Asia

Exports in kind, t

Cashew nut exports from Eastern Asia declined for the third year in a row. In 2020, exports stood at 127 tonnes, down by 43.2% from the previous year. From 2017 to 2020, exports decreased by 62.4%, with a compound annual growth rate (CAGR) of -27.9%.

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

Between 2017 and 2020, the export partner portfolio for cashew nuts from Eastern Asia was quite broad. Vietnam accounted for 28.3% of exports in kind, Malaysia for 8.1%, and India for 5.1%. Together, these three countries represented only 41.5% of total export flows.

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

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

Exports in value, M $ US

Eastern Asia's cashew nut export value declined for the third consecutive year. In 2020, exports amounted to 0.9 million US dollars, down by 47.2% year-over-year. Over the period from 2017 to 2020, exports decreased by 70%, with a compound annual growth rate (CAGR) of -33.1%.

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

Throughout 2017 to 2020, exports in value terms of cashew nuts from Eastern Asia were not concentrated on a few key markets. Vietnam held 24.5% of exports in value terms, Malaysia 7.6%, and India 6.7%. Collectively, these three countries accounted for only 38.9% of total export flows.

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

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

Imports cashew nuts to Eastern Asia

Imports in kind, t

Cashew nut imports into Eastern Asia increased for the third consecutive year. In 2020, Eastern Asia imported approximately 59 531 tonnes of cashew nuts, representing a substantial increase of 14.8% compared to 2019. Over the period from 2017 to 2020, imports grew by 121.1%, with a compound annual growth rate (CAGR) of 30.3%.

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

From 2017 to 2020, Vietnam was the largest supplier of cashew nuts to Eastern Asia, accounting for 50.8% of imports in kind, followed by India at 21.0% and Togo at 8.7%. Together, these three countries formed 80.5% of total imports in kind.

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

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

Imports in value, M $ US

After two years of gains, imported cashew nut volumes in Eastern Asia declined. In 2020, Eastern Asia imported 294.6 million US dollars worth of cashew nuts, which is 6.8% less year-over-year. Between 2017 and 2020, imports increased by 37.3%, equating to an annualized rate of 11.1%. The highest value was recorded in 2019 at 316.1 million US dollars, with the largest year-on-year increase occurring that year at 24.4%.

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

Over the period from 2017 to 2020, Vietnam and India together captured 91.4% of total imports in value terms, while the remaining flows were spread thinly across other markets.

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

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