In-shell cashew nuts market in Latin America and the Caribbean

Earlier Report Observations

Between 2018 and 2020, the market for in-shell cashew nuts in Latin America and the Caribbean saw a decline in volume from 161 thousand tonnes to 151.3 thousand tonnes. The COVID-19 pandemic in 2020 disrupted global distribution channels and affected market availability, contributing to this contraction. Prior to this, Brazil's established position as a major global producer and exporter, with cultivation adapted to dry conditions, provided a foundation for the market.

A strong recovery and expansion followed from 2021 to 2022, with production surging to 233.3 thousand tonnes and market volume reaching 248.1 thousand tonnes. This growth was propelled by continued increases in Brazilian output and the country's rising role in global sales, supplying half of the world's in-shell cashew nut sales in 2022. Enhanced focus on export opportunities to regions like Southeast Asia further supported this upward trend.

The market volume receded to 194.1 thousand tonnes in 2023 but remained well above pre-pandemic levels. During this period, the industry began diversifying with the launch of new product segments, such as ready-to-drink alcoholic beverages based on cashew in northeastern Brazil, and the adoption of agricultural biostimulants aimed at improving crop productivity.

Production in-shell cashew nuts in Latin America and the Caribbean

In kind, 2017-2020, K t

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

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

In Latin America and the Caribbean, production of in-shell cashew nuts reached 151.7 thousand tonnes in 2020, showing only minor year-over-year fluctuations. Over the 2017-2020 period, production grew by 2.3%, with an average annual growth rate of 0.8%. The highest production level was recorded in 2018 at 154.6 thousand tonnes, representing a 4.3% increase. The largest decline occurred in 2019, when production fell by 1.9%.

Annual dynamics of production in Latin America and the Caribbean in kind, 2017-2020, K t

Exports in-shell cashew nuts from Latin America and the Caribbean

Exports in kind, t

Export volumes showed significant volatility during the observed period. The lowest level was recorded in 2018 at 141 tonnes, representing a 24.6% decline. By 2020, exports surged to 517 tonnes, marking a substantial 185.6% increase compared to the previous year. This created a 3.7-fold difference between the lowest point in 2018 and the peak in 2020.

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

Between 2017 and 2020, China, India, and Vietnam formed the core export markets for in-shell cashew nuts from Latin America and the Caribbean. China accounted for 39.9% of export volumes, India represented 33.8%, and Vietnam contributed 9.4%. Together, these three markets accounted for 83.1% of total export flows.

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

World map of product's exports from Latin America and the Caribbean in kind, 2017-2020

Exports in value, K $ US

After two consecutive years of decline, exports of in-shell cashew nuts from Latin America and the Caribbean rebounded in 2020. The lowest value was recorded in 2019 at 249 thousand US dollars, representing a 15.6% decrease. In 2020, exports reached 383 thousand US dollars, showing a sharp 53.6% increase compared to the previous year. Over the 2017-2020 period, exports grew by 9.6%, equivalent to an average annual growth rate of 3.1%.

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

From 2017 to 2020, India, China, and Lebanon were the primary destinations for in-shell cashew nut exports from Latin America and the Caribbean in value terms. India accounted for 38.6% of export value, China represented 22.4%, and Lebanon contributed 12.8%. Together, these three markets captured 73.8% of total export value.

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

World map of product's exports from Latin America and the Caribbean in value, 2017-2020

Imports in-shell cashew nuts to Latin America and the Caribbean

Imports in kind, t

Import volumes of in-shell cashew nuts to Latin America and the Caribbean declined for the third consecutive year in 2020. Imports reached 118 tonnes in 2020, representing a 97.7% decrease compared to the previous year. Over the 2017-2020 period, imports fell by 99.5%, equivalent to an average annual decline of 82.5%.

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

Between 2017 and 2020, imports of in-shell cashew nuts to Latin America and the Caribbean were highly concentrated, with Côte d'Ivoire accounting for 99.2% of total import volumes.

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

World map of product's imports to Latin America and the Caribbean in kind, 2017-2020

Imports in value, K $ US

Import values of in-shell cashew nuts to Latin America and the Caribbean declined for the third consecutive year in 2020. Imports reached 337 thousand US dollars in 2020, representing a 92.4% decrease compared to 2019. Over the 2017-2020 period, imports fell by 99.2%, with an average annual decline of 79.6%.

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

From 2017 to 2020, Côte d'Ivoire was the nearly exclusive supplier of in-shell cashew nuts to Latin America and the Caribbean, accounting for 98.3% of total import value.

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

World map of product's imports to Latin America and the Caribbean in value, 2017-2020