In-shell cashew nuts market in Caribbean

Earlier Report Observations

From 2018 to 2020, the market volume for in-shell cashew nuts in the Caribbean grew from 682 t to 770 t. This increase was primarily driven by a sharp rise in imports, which more than quadrupled in 2020. The COVID-19 pandemic disrupted processing plants in India and Vietnam, redirecting part of the global supply of raw nuts to other markets, including the Caribbean. During this period, Côte d'Ivoire consolidated its position as the world's largest producer, shaping global trade flows.

After peaking in 2020, the market volume dropped to 736 t in 2021, partially recovered to 763 t in 2022, then fell to 732 t in 2023. The decline in 2023 coincided with record global demand for raw cashew nuts, especially from Vietnam and India, which increased imports by 30%. This diverted more nuts to Asia, reducing availability for Caribbean imports. Additionally, the entry of new African producers like Benin altered supply flows, while Côte d'Ivoire opened new processing plants, intensifying competition for raw material.

Throughout the period, domestic production in the Caribbean remained stable at around 670 t per year, with minor fluctuations. Imports were the main driver of market volume changes, reflecting shifts in global supply chains and demand.

Production in-shell cashew nuts in Caribbean

In kind, 2017-2020, t

Top producers of in-shell cashew nuts, 2017-2020

World map of production of in-shell cashew nuts, 2017-2020

Caribbean's in-shell cashew nut production has declined for the third year in a row. In 2020, the region produced 656.5 tonnes, marking a 1.0% decrease from 2019. Looking at the period from 2017 to 2020, production fell by 2.8%, which translates to an average annual decline of 0.9%.

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

In value, 2017-2020, K $ US

Caribbean's in-shell cashew nut production value has also dropped for the third consecutive year. In 2020, the output was valued at 3 182 thousand US dollars, showing a modest decrease of 9.5% compared to the previous year. Between 2017 and 2020, production value declined by 32.4%, with an average annual rate of 12.2%.

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

Exports in-shell cashew nuts from Caribbean

Exports in kind, t

Caribbean's in-shell cashew nut exports have decreased for the third straight year. In 2020, exports amounted to just 0.1 tonnes, a sharp drop of 79.3% from 2019. Over the 2017-2020 period, exports plummeted by 98.7%, averaging an annual decline of 76.3%.

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

From 2017 to 2020, the main markets for Caribbean's in-shell cashew nut exports in volume terms were the United States, accounting for 30.3% of exports, the United Kingdom at 7.5%, and Canada with 1.1%. Together, these three countries made up 38.8% of total export flows.

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's in-shell cashew nut export value has fallen for the third year in a row. In 2020, exports were valued at 0.5 thousand US dollars, indicating a significant decline of 81.1% year-on-year. Between 2017 and 2020, export value dropped by 99.1%, with an average annual decrease of 79.0%.

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

During 2017-2020, the United States and the United Kingdom were the two primary destinations for Caribbean's in-shell cashew nut exports in value terms, together representing 36.1% of total export value.

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

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

Imports in-shell cashew nuts to Caribbean

Imports in kind, t

The import market for in-shell cashew nuts in the Caribbean showed notable fluctuations over the period. The lowest import volume was recorded in 2018 at 12.2 tonnes, with a decline of 4.9% that year. By 2020, imports surged to 113.4 tonnes, a steep increase of 364.3% from the previous year, resulting in a 9.3-fold difference between the low in 2018 and the high in 2020.

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

From 2017 to 2020, the United States remained the leading source for in-shell cashew nut imports to the Caribbean, capturing 74.4% of total import volume, while the rest was distributed among other countries.

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's in-shell cashew nut import value has increased for the third consecutive year. In 2020, imports totalled 307.7 thousand US dollars, reflecting a sharp rise of 35.9% compared to 2019. Over the 2017-2020 period, import value grew by 124.4%, with an average annual growth rate of 30.9%.

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

Throughout 2017-2020, the United States and Vietnam were the key markets for in-shell cashew nut imports to the Caribbean in value terms, jointly accounting for 83.3% of total import flows, with other destinations holding smaller shares.

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

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