Coconuts, Brazil nuts and cashews market in Venezuela

Earlier Report Observations

The market volume for coconuts, Brazil nuts and cashews in Venezuela experienced significant fluctuations between 2018 and 2023. It started at 207.2 thousand tonnes in 2018, fell to 177.8 thousand tonnes in 2019, then saw a modest recovery to 182.1 thousand tonnes in 2020. A sharp contraction followed in 2021, reducing the market size to 128.0 thousand tonnes. A rebound to 143.0 thousand tonnes occurred in 2022, but the market declined again in 2023, ending at 127.8 thousand tonnes.

In 2022, a new regulation on the labeling of foods with high sugar, saturated fat, and trans fat content was implemented in Venezuela. This rule affected all relevant food products, including nuts, by mandating new warning labels on packaging, which altered the marketing and presentation of coconuts, Brazil nuts and cashews on store shelves.

Looking at the broader context, the global market for nuts, including Brazil nuts and cashews, has been propelled by rising health-conscious demand. In 2024, Venezuela's legislative agenda included advancing a Cocoa Bill designed to protect and promote cocoa production, reflecting a strategic focus on agricultural diversification, while no specific new policies for the nut market were reported that year.

Production coconuts, Brazil nuts and cashews in Venezuela

In kind, 2017-2020, K t

Between 2017 and 2020, Venezuela ranked 22nd globally in the production of coconuts, Brazil nuts, and cashews.

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

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

In 2020, Venezuela produced 184.0 K t of coconuts, Brazil nuts, and cashews, marking a 2.3% increase from 2019. Over the period from 2017 to 2020, production declined by 8.5%, which translates to an annualized decrease of 2.9%. The lowest production level was recorded in 2019 at 179.9 K t, while the peak occurred in 2018 with 211.2 K t. The most significant drop was observed in 2019, with a 14.8% decrease, whereas the largest gain was in 2018, with a 5.0% rise.

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

Exports coconuts, Brazil nuts and cashews from Venezuela

Exports in kind, t

Venezuela's exports of coconuts, Brazil nuts, and cashews fell for the second year in a row in 2020, totaling 2 177 t, down 10.5% from the previous year. From 2017 to 2020, exports decreased by 18.7%, averaging a 6.7% annual decline. The highest export volume was in 2018 at 4 108 t. The sharpest decline occurred in 2019, with a 40.8% drop, while the largest increase was in 2018, with a 53.3% surge.

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

From 2017 to 2020, Colombia was the dominant destination for Venezuela's exports of coconuts, Brazil nuts, and cashews in volume terms, accounting for 90.5% of total shipments.

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

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

Exports in value, K $ US

The data shows irregular shifts, pointing to a volatile market environment. Venezuela exported 481 K $ US worth of coconuts, Brazil nuts, and cashews in 2020, up 17.9% from the previous year. The lowest value was recorded in 2019 at 407 K $ US, and the highest in 2018 at 1 218 K $ US. The span from 2018 to 2019 saw a peak-to-trough amplitude of threefold. The most substantial decrease was in 2019, with a 66.6% drop, while the largest increase was in 2018, with an 86.8% rise.

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

During 2017–2020, the top destinations for Venezuela's exports of coconuts, Brazil nuts, and cashews in value terms were Colombia, with 67.4% of exports, Lebanon at 10.5%, and India at 9.1%. Together, these three countries accounted for 87.0% of total export flows.

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

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

Imports coconuts, Brazil nuts and cashews to Venezuela

Imports in kind, t

Market performance showed noticeable fluctuations over the period. Venezuela imported 249 t of coconuts, Brazil nuts, and cashews in 2020, a 24.6% decline from 2019. The lowest import volume was in 2018 at 148 t, and the highest in 2019 at 330 t, reflecting a 2.2-fold gap between these years. The largest increase was recorded in 2019, with a 122.7% jump.

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

From 2017 to 2020, Vietnam was the leading source for Venezuela's imports of coconuts, Brazil nuts, and cashews in volume terms, holding a 71.2% share of total flows, with the remainder distributed among other partners.

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

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

Imports in value, K $ US

After two years of growth, Venezuela's imports of coconuts, Brazil nuts, and cashews declined in 2020, totaling 1 102 K $ US, a steep 32.9% drop from 2019. Over the 2017–2020 period, imports increased by 32.6%, averaging a 9.9% annual growth rate. The highest value was in 2019 at 1 643 K $ US. The largest increase occurred in 2018, with a 67.8% rise.

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

Throughout 2017–2020, Vietnam remained the primary source for Venezuela's imports of coconuts, Brazil nuts, and cashews in value terms, capturing 89.4% of total flows, while the rest was spread across various smaller markets.

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

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