Coconuts, Brazil nuts and cashews market in Caribbean

Earlier Report Observations

The market volume for coconuts, Brazil nuts, and cashews in the Caribbean grew substantially from 650.5 thousand tonnes in 2018 to 854.0 thousand tonnes in 2023, an increase of 31.3%. This expansion was not uniform, with a slight dip in 2020 interrupting the overall upward trajectory.

After reaching 669.2 thousand tonnes in 2019, volume contracted by 3.4% to 646.3 thousand tonnes in 2020. However, the market rebounded strongly in the following years, with growth rates exceeding 10% annually from 2021 to 2023, pushing the volume above 850 thousand tonnes.

In value terms, the market exhibited a different pattern, declining from 611.1 million US dollars in 2018 to 513.2 million in 2019 before recovering. By 2023, the market value reached 773.2 million US dollars, reflecting a 26.5% increase over the six-year period, with notable price fluctuations affecting the annual figures.

Production coconuts, Brazil nuts and cashews in Caribbean

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

Caribbean production of coconuts, Brazil nuts, and cashews grew for two consecutive years before declining. In 2019, output reached its peak at 668.8 K t, representing a 3.4% increase from the previous year. However, in 2020, production fell to 638.8 K t, marking a moderate 4.5% year-over-year decrease.

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

In value, 2017-2020, M $ US

The value of Caribbean coconuts, Brazil nuts, and cashews production showed mixed trends in recent years. In 2018, it peaked at 599.5 M $ US, reflecting a 15.7% increase. The following year, 2019, saw a significant 15.8% decline to 504.9 M $ US, the lowest point in the period. In 2020, output value recovered slightly to 514.8 M $ US, a modest 2.0% advance compared to 2019.

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

Exports coconuts, Brazil nuts and cashews from Caribbean

Exports in kind, t

Caribbean exports of coconuts, Brazil nuts, and cashews increased for two years before dropping. In 2018, shipments grew by 13.5%, reaching a high of 12 508 t in 2019. However, in 2020, exports fell sharply to 10 963 t, a substantial 12.4% reduction from the previous year.

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

From 2017 to 2020, the United States, Canada, and Italy were the top destinations for Caribbean coconuts, Brazil nuts, and cashews exports by volume. The United States accounted for 56.8% of exports, Canada for 11.1%, and Italy for 0.6%. Together, these three countries made up 68.5% of total export volumes.

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

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

Exports in value, K $ US

Caribbean export value for coconuts, Brazil nuts, and cashews declined for the second year in a row. In 2018, it reached a maximum of 11 353 K $ US, with a notable 29.8% increase. The following year, 2019, saw a sharp 16.8% drop. In 2020, exports stood at 8 834 K $ US, a limited 6.4% loss compared to 2019.

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

During the 2017–2020 period, the United States, Canada, and France dominated Caribbean coconuts, Brazil nuts, and cashews exports by value. The United States represented 62.5% of export value, Canada 10.4%, and France 0.8%. Collectively, these markets accounted for 73.8% of total export flows.

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

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

Imports coconuts, Brazil nuts and cashews to Caribbean

Imports in kind, t

Caribbean imports of coconuts, Brazil nuts, and cashews by volume fluctuated in recent years. In 2019, they hit a low of 12 849 t, a 20.3% decline from the previous year. However, in 2020, imports surged to 18 430 t, a significant 43.4% increase compared to 2019. Overall, from 2017 to 2020, imports grew by 17.7%, averaging a 5.6% annualized rate.

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

Between 2017 and 2020, Guyana, the United States, and India were the main suppliers of coconuts, Brazil nuts, and cashews to the Caribbean by volume. Guyana contributed 35.8% of imports, the United States 25.3%, and India 4.4%. Together, these three countries accounted for 65.4% of total import volumes.

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

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

Imports in value, K $ US

Caribbean import value for coconuts, Brazil nuts, and cashews varied over the period. In 2018, it peaked at 22 962 K $ US, but fell to a low of 17 799 K $ US in 2019, a 22.5% decline. In 2020, import value rebounded to 21 920 K $ US, marking a 23.2% increase from 2019.

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

From 2017 to 2020, the United States, Guyana, and India were the key sources for Caribbean coconuts, Brazil nuts, and cashews imports by value. These three markets together absorbed 68.9% of total import value.

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

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