Coconuts, Brazil nuts and cashews market in Asia

Earlier Report Observations

The Asian market for coconuts, Brazil nuts and cashews began the period with a slight reduction in volume. Policy measures implemented in India, including cuts to import duties and the Goods and Services Tax for raw cashews, aimed to stimulate the domestic processing industry. However, production faced headwinds from climate pressures and urbanization that limited the expansion of cultivation area. These constraints were compounded in 2020 by pandemic-related domestic supply chain disruptions, which delayed transportation and increased costs for moving nuts, contributing to the overall decline in output.

A recovery in market volume commenced in 2021, supported by Indian government investments in expanding coconut cultivation area and building processing units for value-added products like virgin coconut oil. This period also saw a rise in health awareness among consumers, boosting demand for nuts like cashews. The upward trend was temporarily interrupted in 2022 when severe droughts in Brazil, a key producer, negatively impacted cashew yields. Growth resumed in 2023, driven by increasing consumer demand in India for fresh coconut due to health trends and diverse culinary uses, alongside rising domestic prices for coconut and copra linked to post-pandemic recovery and strong exports of derived products.

Recent developments continued to shape the market, with extreme heat waves in India during 2024 causing water scarcity and threatening coconut production quality and volumes. Simultaneously, demand for products like coconut water and cashews remained robust, fueled by health-conscious consumption and festive gifting traditions. The industry's growing adoption of sustainable agricultural practices and environmental certifications, such as Fair Trade, aimed to secure access to premium international markets.

Production coconuts, Brazil nuts and cashews in Asia

In kind, 2017-2020, K t

Top producers of coconuts, Brazil nuts and cashews, 2017-2020

World map of production of coconuts, Brazil nuts and cashews, 2017-2020

Asia's production of coconuts, Brazil nuts, and cashews declined for the second year in a row. In 2020, the region produced 54 168 thousand tonnes, marking a 2.8% decrease compared to the previous year. Looking at the period from 2017 to 2020, overall production grew by 7%, with an average annual growth rate of 2.3%. The highest output was recorded in 2018 at 57 228 thousand tonnes, which also saw the largest increase of 13.0%.

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

Exports coconuts, Brazil nuts and cashews from Asia

Exports in kind, K t

Exports of coconuts, Brazil nuts, and cashews from Asia rose for the second consecutive year. In 2020, shipments reached 1 143 thousand tonnes, showing a sharp increase of 54.5% from 2019. However, over the 2017-2020 period, exports fell by 28.5%, with an average annual decline of 10.6%. The lowest volume was in 2018 at 702 thousand tonnes, which also experienced the biggest drop of 56.1%.

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

From 2017 to 2020, Asia's export destinations for these nuts were highly diverse. Canada, the United States, and the Netherlands accounted for 11.1%, 9.5%, and 4.0% of exports in volume, respectively, but together they made up only 24.6% of total flows. The remaining 75.4% went to a wide range of other countries.

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

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

Exports in value, M $ US

After two years of decline, Asia's exports of coconuts, Brazil nuts, and cashews in value terms rebounded. In 2020, exports totaled 4 339 million US dollars, up 6.9% from 2019. Over the 2017-2020 span, however, export value decreased by 10.9%, with an average annual decline of 3.8%. The lowest point was in 2019 at 4 059 million US dollars, which also saw the largest drop of 9.7%.

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

Between 2017 and 2020, the United States, the Netherlands, and Germany were significant buyers of these nuts from Asia, accounting for 27.2%, 10.9%, and 3.6% of export value, respectively. Yet, their combined share reached just 41.6% of total exports, highlighting a market that is not dominated by a few key players.

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

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

Imports coconuts, Brazil nuts and cashews to Asia

Imports in kind, K t

Import volumes for coconuts, Brazil nuts, and cashews into Asia showed an unstable pattern during this period. In 2020, Asia imported 1 602 thousand tonnes, down 6.6% from 2019. The lowest volume was in 2018 at 584 thousand tonnes, while the peak was in 2019 at 1 715 thousand tonnes, representing a 2.9-fold difference. The largest decline occurred in 2018 at 61.5%, and the biggest increase was in 2019 at 193.5%.

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

From 2017 to 2020, Asia sourced these nuts from a broad array of suppliers. Côte d'Ivoire, Ghana, and Nigeria contributed 15.3%, 5.8%, and 5.2% of import volume, respectively, but together they represented only 26.3% of total imports. The other 73.7% came from numerous smaller markets.

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

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

Imports in value, M $ US

Asia's imports of coconuts, Brazil nuts, and cashews in value terms fell for the third straight year. In 2020, imports amounted to 4 339 million US dollars, reflecting a modest decline of 3.2% from 2019. Over the 2017-2020 period, import value dropped by 21.1%, with an average annual decrease of 7.6%.

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

Between 2017 and 2020, Côte d'Ivoire, Ghana, and Tanzania were among the top suppliers of these nuts to Asia in value terms, with shares of 19.8%, 7.0%, and 6.9%, respectively. However, even combined, they made up only 33.8% of total import value, indicating a highly diversified supplier base.

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

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