Coconuts, Brazil nuts and cashews market in Peru

Earlier Report Observations

The market for coconuts, Brazil nuts, and cashews in Peru expanded significantly from 41,165 tons in 2018 to a peak of 59,374 tons in 2022, driven by a multi-year increase in domestic production. Output rose from 42,102 tons to 57,788 tons over the same period, supporting the growing market volume. After 2022, the market contracted to 52,162 tons in 2023, coinciding with a drop in production.

A key driver behind the long-term growth in demand was a global consumer shift toward healthy foods, which boosted the popularity of nuts like cashews and Brazil nuts for their nutritional benefits and use in plant-based products. However, supply-side constraints emerged in 2023. Climatic factors affecting global supply, particularly in less industrialized producing regions, likely impacted Peru's output. This was compounded by limited domestic availability of improved genetic planting material for nut trees, creating a dependence on imports for cultivation and restricting production expansion.

Peru's participation in the global nut trade continued, with exports of Brazil nuts reaching notable values. The broader international market growth, fueled by vegan and plant-based diet trends, provided a favorable context, though local production faced specific challenges in scaling up to meet both domestic and export demand.

Production coconuts, Brazil nuts and cashews in Peru

In kind, 2017-2020, t

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

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

Peru's production of coconuts, Brazil nuts, and cashews has grown for the third year in a row. In 2020, the country produced 50 395 tons, which represents a 16.2% increase compared to the previous year. Looking at the period from 2017 to 2020, overall production rose by 19.9%, with an average annual growth rate of 6.2%.

Annual dynamics of production in Peru in kind, 2017-2020, t

Exports coconuts, Brazil nuts and cashews from Peru

Exports in kind, t

The export market for these nuts showed significant volatility during this period. In 2017, exports hit their lowest point, while 2018 saw the peak, with a 1.7-fold difference between these two years. In 2020, Peru exported 6 786 tons, marking a 22.7% year-over-year increase. The highest volume was recorded in 2018 at 6 824 tons. The most substantial decline occurred in 2019, with a drop of 19.0%, whereas the largest increase was in 2018, at 71.3%.

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

From 2017 to 2020, three key markets—South Korea, the United States, and Chile—collectively made up 72.3% of Peru's total exports of coconuts, Brazil nuts, and cashews by volume.

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

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

Exports in value, K $ US

The value of Peru's exports of coconuts, Brazil nuts, and cashews fell for the second consecutive year. In 2020, exports amounted to 29 843 thousand US dollars, down 12.9% from 2019. Over the 2017-2020 period, export value decreased by 37.3%, with an average annual decline of 14.4%. The peak was in 2018 at 65 528 thousand US dollars. The sharpest drop was in 2019, at 47.7%, while the largest increase occurred in 2018, at 37.7%.

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

Between 2017 and 2020, South Korea, the United States, and Russia were the main markets for Peru's nut exports in value terms. South Korea accounted for 60.5% of exports, the United States for 19.0%, and Russia for 3.4%, together representing 82.9% of total export value.

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

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

Imports coconuts, Brazil nuts and cashews to Peru

Imports in kind, t

Peru's imports of coconuts, Brazil nuts, and cashews by volume declined for the second year in a row. In 2020, imports totaled 3 152 tons, an 8.2% decrease compared to the previous year. From 2017 to 2020, import volume fell by 17.9%, equivalent to an annualized rate of 6.4%. The highest volume was in 2018 at 5 887 tons. The most significant decline was in 2019, at 41.7%, while the largest increase was in 2018, at 53.3%.

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

During the 2017-2020 period, Brazil dominated Peru's imports by volume, holding 74.1% of the total, with the rest distributed among various smaller sources.

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

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

Imports in value, K $ US

The value of Peru's imports of coconuts, Brazil nuts, and cashews dropped for the second consecutive year. In 2020, imports were valued at 4 209 thousand US dollars, a 37.4% decrease from the previous year. Over the 2017-2020 span, import value fell by 59%, with an average annual decline of 25.7%. The peak was in 2018 at 13 797 thousand US dollars. The largest decline occurred in 2019, at 51.2%, while the biggest increase was in 2018, at 34.2%.

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

From 2017 to 2020, Brazil was the primary supplier of coconuts, Brazil nuts, and cashews to Peru in value terms, accounting for 71.8% of total imports. The remaining share came from a diverse group of other countries.

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

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