Coconuts, Brazil nuts and cashews market in Thailand

Earlier Report Observations

Between 2018 and 2021, the market volume for coconuts, Brazil nuts and cashews in Thailand fluctuated, starting at 940 thousand tons in 2018, dropping to 736 thousand tons in 2019, and recovering to 778 thousand tons in 2021. In value terms, the market declined from $794 million in 2018 to $610 million in 2021. Aromatic coconuts had already established as a high-value export crop by 2018, with overseas markets accounting for a major share.

From 2022, the market volume fell sharply to 588 thousand tons in 2022 and further to 486 thousand tons in 2023, while market value dropped to $354 million. By 2023, aromatic coconut exports reached a peak exceeding 416 thousand tons, but domestic market volume contracted under pressure from Chinese capital controlling purchases in key growing regions, which depressed farmer prices, and from increased competition after Vietnam designated coconut as a key industrial crop.

Production coconuts, Brazil nuts and cashews in Thailand

In kind, 2017-2020, K t

Thailand was one of the world's leading producers of coconuts, Brazil nuts, and cashews from 2017 to 2020, ranking 11th globally by production volume.

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

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

Thailand's production of coconuts, Brazil nuts, and cashews increased for two years before declining. In 2020, output fell to 642.4 K t, marking a sharp year-over-year drop of 27.9%. Over the 2017-2020 period, production decreased by 18.4%, with an annualized decline rate of 6.6%. The highest production volume was recorded in 2019 at 891.4 K t, while the largest increase occurred in 2018 at 12.0%.

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

In value, 2017-2020, M $ US

Thailand's production value for coconuts, Brazil nuts, and cashews declined for the second consecutive year. In 2020, output was valued at 485.3 M $ US, down 19.1% from the previous year. Between 2017 and 2020, production value fell by 31.2%, equating to an annualized decrease of 11.7%. The peak value was recorded in 2018 at 796.7 M $ US. The largest decline occurred in 2019 at 24.7%, while the largest increase was in 2018 at 12.9%.

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

Exports coconuts, Brazil nuts and cashews from Thailand

Exports in kind, K t

Thailand's exports of coconuts, Brazil nuts, and cashews increased for the third consecutive year. In 2020, exports reached 270.0 K t, up 62.3% year-over-year. Over the 2017-2020 period, exports grew by 114.4%, with an annualized growth rate of 28.9%.

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

From 2017 to 2020, China was the dominant destination for Thailand's exports of coconuts, Brazil nuts, and cashews in volume terms, consistently accounting for 93.1% of total flows.

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

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

Exports in value, M $ US

Export values showed volatility during this period. The lowest value was recorded in 2019 at 112.0 M $ US, while the peak occurred in 2020 at 204.0 M $ US, representing a 1.8-fold increase. In 2020, exports surged by 82.1% compared to the previous year. The largest decline was in 2019 at 24.4%.

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

From 2017 to 2020, China led Thailand's exports of coconuts, Brazil nuts, and cashews in value terms, holding a 76.7% share of total flows, with other markets accounting for the remainder.

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

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

Imports coconuts, Brazil nuts and cashews to Thailand

Imports in kind, K t

Import volumes experienced significant fluctuations. The lowest volume was recorded in 2019 at 10.6 K t, while the peak was in 2017, resulting in a 41-fold difference between these years. In 2020, imports jumped to 382.8 K t, a dramatic increase of 3 526.2% from 2019. The largest decline occurred in 2019 at 95.2%.

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

From 2017 to 2020, Indonesia and Vietnam were the key partners for Thailand's imports of coconuts, Brazil nuts, and cashews in volume terms, together accounting for 96.7% of total flows, with other partners making up the rest.

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

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

Imports in value, M $ US

Import values were volatile during this period. The lowest value was in 2019 at 78.3 M $ US, while the peak was in 2017, showing a 3-fold difference. In 2020, imports rose to 226.1 M $ US, a sharp increase of 188.6% from the previous year. The largest decline was recorded in 2019 at 46.0%.

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

From 2017 to 2020, Vietnam and Indonesia dominated Thailand's imports of coconuts, Brazil nuts, and cashews in value terms, jointly accounting for 84.5% of total flows, with other countries holding smaller shares.

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

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