In-shell cashew nuts market in Southern Asia

Earlier Report Observations

The market for in-shell cashew nuts in Southern Asia began at 864.7 thousand tonnes in 2018. This level was supported by policy measures, including a reduction in the Basic Customs Duty on raw cashew nuts from 5% to 2.5% and a cut in GST from 12% to 5%, which aimed to stimulate the industry. The market volume then contracted over the following two years, falling to 780.5 thousand tonnes in 2019 and to 737.5 thousand tonnes in 2020.

A sustained recovery started in 2021, with the market size growing to 748.0 thousand tonnes. This turnaround was driven by government initiatives under the MIDH and RKVY schemes, which promoted expanded cultivation and the adoption of high-yield varieties. Growth continued in 2022, reaching 770.9 thousand tonnes, supported by India's strong position in global trade and the promotion of organic farming methods. The market further expanded to 799.0 thousand tonnes in 2023.

Production in-shell cashew nuts in Southern Asia

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

Southern Asia's in-shell cashew nut production has declined for the second year in a row. In 2020, the region produced 736.7 thousand tonnes, marking a gradual decrease of 5.3% from 2019. Looking at the period from 2017 to 2020, production fell by 3.7%, which translates to an average annual decline of 1.3%. The highest production level was recorded in 2018 at 861.8 thousand tonnes, with the largest increase that year of 12.6%. In contrast, 2019 saw the most significant drop, with production falling by 9.7%.

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

Exports in-shell cashew nuts from Southern Asia

Exports in kind, t

The market exhibited considerable volatility during the observed period. In 2020, Southern Asia's in-shell cashew nut exports totaled just 7 tonnes, reflecting a sharp decline of 98.1% compared to the previous year. The lowest export volume was recorded in 2020, while the highest was in 2019 at 370 tonnes, representing a peak-to-trough ratio of 52 times. The largest increase occurred in 2019, with exports surging by 414.6%.

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

From 2017 to 2020, Vietnam, the United Arab Emirates, and Turkey were the top destinations for Southern Asia's in-shell cashew nut exports by volume. Vietnam accounted for 21.3% of exports, followed by the United Arab Emirates at 2.2% and Turkey at 1.5%. Together, these three countries represented 25.0% of total export flows during this period.

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

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

Exports in value, K $ US

The market experienced notable volatility from 2017 to 2020, with a peak-to-trough amplitude of 7.4 times. In 2020, the value of in-shell cashew nut deliveries from Southern Asia reached 110 thousand US dollars, indicating a steep drop of 83.7% compared to the previous year. The largest increase was recorded in 2019, with a rise of 54.9%.

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

Between 2017 and 2020, the geographical structure of Southern Asia's in-shell cashew nut exports by value was highly diversified. Vietnam accounted for 17.5% of export value, the United Arab Emirates for 10.0%, and Turkey for 4.7%. Combined, these three countries represented just 32.2% of total flows, while the remaining 67.8% was distributed among numerous smaller partner countries.

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

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

Imports in-shell cashew nuts to Southern Asia

Imports in kind, t

Southern Asia's in-shell cashew nut imports have declined for the second consecutive year. In 2020, import volume amounted to 877 tonnes, which is 68.7% lower than the previous year. Over the period from 2017 to 2020, imports decreased by 64.2%, equivalent to an average annual decline of 29.0%. The highest import volume was recorded in 2018 at 2 989 tonnes, with the largest increase that year of 22.0%.

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

From 2017 to 2020, in-shell cashew nut imports to Southern Asia by volume were spread across many countries. Indonesia accounted for 8.5% of imports, Tanzania for 2.9%, and Mozambique for 1.1%. Together, these three countries represented only 12.5% of total import flows.

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

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

Imports in value, K $ US

Market performance showed noticeable fluctuations during the period. The highest import value was recorded in 2019 at 12 306 thousand US dollars, while the lowest was in 2020, with a 4.3-fold difference between these years. In 2020, Southern Asia imported in-shell cashew nuts worth 110 thousand US dollars, marking a steep decline of 76.6% compared to the previous year. The largest increase occurred in 2018, with a rise of 63.5%.

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

Between 2017 and 2020, the country structure of Southern Asia's in-shell cashew nut imports by value remained highly diversified. Indonesia accounted for 13.2% of import value, Tanzania for 5.6%, and the United Arab Emirates for 5.3%. Together, these three countries represented only 24.1% of total flows, with the remaining 75.9% coming from a long tail of smaller markets.

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

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