Cashew nuts market in South America

Earlier Report Observations

Between 2018 and 2020, the cashew nut market volume in South America gradually declined from 143.2 thousand tons to 132.1 thousand tons. This period saw the Colombian industry establishing cultivation in dry regions like Vichada and the Caribbean coast, with initiatives to promote the crop as an alternative to illicit cultivation. However, the lack of technological offerings and suitable varieties that guarantee good nut production limited output growth.

A sharp expansion followed in 2021 and 2022, with the market reaching 158.9 thousand tons and then surging to 238.2 thousand tons. The introduction of the high-yield Mapiria Ao1 clone improved yields on planted areas exceeding 6 000 hectares in Vichada. Concurrently, cashew gained prominence as an ingredient for snacks, cheeses, and plant-based beverages, aligning with global dietary trends and driving demand, while joint initiatives between academia, the public sector, and industry supported the sector's transformation.

In 2023, the market volume contracted to 180.0 thousand tons. This coincided with reported declines in production and sales within Colombia's manufacturing sector, attributed primarily to weaker demand, which likely reduced industrial offtake of cashew nuts as a raw material.

Production cashew nuts in South America

In kind, 2017-2020, K t

Top producers of cashew nuts, 2017-2020

World map of production of cashew nuts, 2017-2020

South America's cashew nut production declined for the second consecutive year. In 2020, the region produced 143.8 K t of cashew nuts, showing little change from the previous year. Production peaked in 2018 at 147.5 K t, with the largest annual increase of 4.5% recorded that same year. The most significant decline occurred in 2019, when production fell by 2.1%.

Annual dynamics of production in South America in kind, 2017-2020, K t

In value, 2017-2020, M $ US

South America's cashew nut production declined for the third consecutive year. In 2020, the output was valued at 960 M $ US, marking a 15.9% decrease compared to 2019. Over the period from 2017 to 2020, production value fell by 31.5%, with a compound annual growth rate (CAGR) of -11.8%.

Annual dynamics of production in South America in value, 2017-2020, M $ US

Exports cashew nuts from South America

Exports in kind, t

After two years of growth, South America's cashew nut export volume declined. In 2020, exports totaled 13 654 t, representing an 11.3% drop from 2019. Over the 2017-2020 period, exports increased by 18.6%, with a CAGR of 5.9%. The highest volume was recorded in 2019 at 15 385 t, which also saw the largest annual increase of 21.6%.

Annual dynamics of product's exports from South America in kind, 2017-2020, t

From 2017 to 2020, the United States (37.1% of exports in kind), Canada (9.9%), and the Netherlands (9.7%) were the key destinations for South American cashew nut exports. Together, these three markets accounted for 56.7% of total export flows.

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

World map of product's exports from South America in kind, 2017-2020

Exports in value, M $ US

Following two years of growth, South America's cashew nut export value declined. In 2020, exports amounted to 91.1 M $ US, showing a 25.1% decrease from the previous year. Over the 2017-2020 period, export value fell by 20.2%, with a CAGR of -7.2%. The peak value was recorded in 2019 at 121.6 M $ US, which also experienced the largest annual increase of 4.2%.

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

Between 2017 and 2020, the United States (40.8% of exports in value terms), the Netherlands (10.4%), and Canada (10.1%) were the principal buyers of South American cashew nuts. Collectively, these three countries represented 61.2% of total export value.

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

World map of product's exports from South America in value, 2017-2020

Imports cashew nuts to South America

Imports in kind, t

South America's cashew nut imports declined for the third consecutive year. In 2020, the region imported 1 981 t of cashew nuts, down by 70.5% compared to 2019. From 2017 to 2020, imports decreased by 91.8%, equating to an annualized decline of 56.5%.

Annual dynamics of product's imports to South America in kind, 2017-2020, t

Throughout 2017-2020, Côte d'Ivoire remained the primary source for South America's cashew nut imports, accounting for 77.8% of total import volume. The remaining share was distributed among various smaller markets.

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

World map of product's imports to South America in kind, 2017-2020

Imports in value, M $ US

South America's cashew nut import value declined for the third consecutive year. In 2020, imports amounted to 16.8 M $ US, equivalent to a 17.8% drop from the previous year. Between 2017 and 2020, import value decreased by 71.9%, with an annualized rate of decline of 34.5%.

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

From 2017 to 2020, Côte d'Ivoire (42.3% of imports in value terms), Vietnam (5.7%), and India (3.2%) led the structure of South America's cashew nut imports. Together, these three countries represented 51.2% of total import value.

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

World map of product's imports to South America in value, 2017-2020