Coconuts, Brazil nuts and cashews market in ECOWAS

Earlier Report Observations

Between 2018 and 2020, the market volume for coconuts, Brazil nuts and cashews in ECOWAS grew from 824 thousand tons to 1 185 thousand tons. This expansion was supported by rising global demand, particularly for cashew nuts, driven by the popularity of vegan diets and alternative protein sources. Regional production, led by Côte d'Ivoire as the world's top cashew producer, remained robust during this period.

Market volume then contracted to 891 thousand tons in 2021 before recovering to 1 168 thousand tons in 2022 and falling again to 925 thousand tons in 2023. These swings aligned with shifts in export patterns, notably Vietnam's record import of raw cashews in 2023, which drew supply away from the regional market. Adverse climate conditions in 2022, including lower rainfall in Côte d'Ivoire, affected crop yields and contributed to price volatility, while tightening international regulations on pesticide residues and traceability requirements began reshaping trade flows.

Throughout the period, the gradual advancement of local processing in Côte d'Ivoire, where over one-third of commercialized production was processed domestically by 2024, started to strengthen the regional value chain. Simultaneously, stricter European and U.S. standards on chemical limits and electronic traceability influenced market access and encouraged consolidation among processors.

Production coconuts, Brazil nuts and cashews in ECOWAS

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

In 2019, ECOWAS recorded its lowest production of coconuts, Brazil nuts, and cashews at 2 483 thousand tonnes, marking a 4.7% decline. However, production rebounded in 2020, reaching 2 651 thousand tonnes—a 6.8% increase from the previous year. Over the 2017-2020 period, overall production grew by 6.5%, with an average annual growth rate of 2.1%.

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

In value, 2017-2020, M $ US

Following a two-year decline, ECOWAS saw a recovery in the value of its coconuts, Brazil nuts, and cashews production. In 2019, output hit its lowest point at 2 773 million US dollars, reflecting a sharp 22.9% drop. By 2020, production value had risen to 3 171 million US dollars, a solid 14.4% gain year-over-year. Despite this recent uptick, production decreased by 18.4% overall from 2017 to 2020, with an average annual decline of 6.5%.

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

Exports coconuts, Brazil nuts and cashews from ECOWAS

Exports in kind, K t

In 2019, ECOWAS experienced its largest decline in export volume for coconuts, Brazil nuts, and cashews, falling by 20.3%. Exports then recovered in 2020, reaching 1 471 thousand tonnes—a moderate 3.4% increase from the previous year. The peak export volume occurred in 2018 at 1 784 thousand tonnes, which represented a substantial 31.6% surge. Over the 2017-2020 period, exports grew by 8.6%, translating to an average annual rate of 2.8%.

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

From 2017 to 2020, Vietnam and India dominated ECOWAS's exports of coconuts, Brazil nuts, and cashews in volume terms, jointly accounting for 83.2% of total flows. The remaining share was distributed among various other destinations.

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

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

Exports in value, M $ US

In 2019, ECOWAS recorded its lowest export value for coconuts, Brazil nuts, and cashews at 1 588 million US dollars, with the largest decline of 35.4%. Exports then increased in 2020 to 1 760 million US dollars, a significant 10.8% rise year-over-year. The highest export value was in 2018 at 2 461 million US dollars, marking a 16.4% increase. Overall, from 2017 to 2020, exports decreased by 16.8%, with an average annual decline of 5.9%.

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

During the 2017-2020 period, Vietnam and India were the primary drivers of ECOWAS's export value for coconuts, Brazil nuts, and cashews, together making up 86.8% of total flows. Other markets contributed smaller shares, forming a long tail in the export structure.

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

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

Imports coconuts, Brazil nuts and cashews to ECOWAS

Imports in kind, K t

ECOWAS's imports of coconuts, Brazil nuts, and cashews have increased for three consecutive years. In 2020, imports totaled 5 thousand tonnes, representing an intense 158.9% rise compared to the previous year. From 2017 to 2020, imports surged by 353.4%, equating to an average annual growth rate of 65.5%.

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

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

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

Imports in value, M $ US

Volatility characterized the market behavior during these years. In 2019, imports recorded their largest decline of 2.5%. However, by 2020, imports rebounded sharply to 21 million US dollars, an abrupt 771.9% increase from the previous year. Import volumes peaked in 2020 and hit their lowest point in 2017, with a top-to-bottom ratio of 9.5 times.

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

From 2017 to 2020, ECOWAS imported coconuts, Brazil nuts, and cashews from many countries. Even the largest destinations—Portugal, the United Kingdom, and India—together represented only 6.9% of total imports in value terms, indicating a highly fragmented import structure.

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

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