ASEAN: Cashew Nut Market 2024

Cashew Nut Market Size in ASEAN

The ASEAN cashew nut market fell sharply to $X in 2022, dropping by X% against the previous year. In general, consumption, however, enjoyed a resilient increase. As a result, consumption reached the peak level of $X, and then fell rapidly in the following year.

Cashew Nut Production in ASEAN

In value terms, cashew nut production rose remarkably to $X in 2022 estimated in export price. Overall, production, however, recorded a buoyant expansion. The growth pace was the most rapid in 2013 when the production volume increased by X%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

The countries with the highest volumes of production in 2022 were Vietnam (X tons), the Philippines (X tons) and Indonesia (X tons), with a combined X% share of total production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by the Philippines (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

The average cashew nut yield shrank slightly to X tons per ha in 2022, with a decrease of X% against 2021 figures. The yield indicated pronounced growth from 2012 to 2022: its figure increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cashew nut yield increased by X% against 2017 indices. The growth pace was the most rapid in 2015 with an increase of X%. Over the period under review, the cashew nut yield reached the peak level at X tons per ha in 2021, and then declined in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of cashew nuts were harvested in ASEAN; approximately equating the previous year's figure. In general, the harvested area recorded a slight curtailment. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area failed to regain momentum.

Cashew Nut Exports

Exports in ASEAN

In 2022, shipments abroad of cashew nuts decreased by X% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports saw a deep downturn. The growth pace was the most rapid in 2019 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, cashew nut exports contracted notably to $X in 2022. In general, exports recorded a abrupt descent. The pace of growth appeared the most rapid in 2015 with an increase of X%. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Indonesia represented the main exporting country with an export of around X tons, which amounted to X% of total exports. Cambodia (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (X%) and Thailand (X%). Lao People's Democratic Republic (X tons) followed a long way behind the leaders.

Exports from Indonesia decreased at an average annual rate of X% from 2012 to 2022. At the same time, Thailand (X%), Vietnam (X%) and Lao People's Democratic Republic (X%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2022. By contrast, Cambodia (X%) illustrated a downward trend over the same period. While the share of Vietnam (X p.p.), Thailand (X p.p.) and Lao People's Democratic Republic (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Indonesia (X p.p.) and Cambodia (X p.p.) displayed negative dynamics.

In value terms, Indonesia ($X) remains the largest cashew nut supplier in ASEAN, comprising X% of total exports. The second position in the ranking was taken by Cambodia ($X), with a X% share of total exports. It was followed by Vietnam, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Indonesia stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Cambodia (X% per year) and Vietnam (X% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, stabilizing at the previous year. Overall, the export price showed a slight decline. The pace of growth appeared the most rapid in 2017 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Indonesia ($X per ton) and Vietnam ($X per ton), while Lao People's Democratic Republic ($X per ton) and Thailand ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the other leaders experienced mixed trends in the export price figures.

Cashew Nut Imports

Imports in ASEAN

In 2022, the amount of cashew nuts imported in ASEAN fell remarkably to X tons, dropping by X% against the previous year's figure. In general, imports, however, continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X tons, and then reduced dramatically in the following year.

In value terms, cashew nut imports reduced sharply to $X in 2022. Overall, imports, however, enjoyed significant growth. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of $X, and then dropped remarkably in the following year.

Imports by Country

The purchases of the one major importers of cashew nuts, namely Vietnam, represented more than two-thirds of total import.

Vietnam was also the fastest-growing in terms of the cashew nuts imports, with a CAGR of X% from 2012 to 2022. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) constitutes the largest market for imported cashew nuts in ASEAN.

From 2012 to 2022, the average annual growth rate of value in Vietnam amounted to X%.

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, reducing by X% against the previous year. Import price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cashew nut import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2016 when the import price increased by X%. The level of import peaked at $X per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Vietnam.

From 2012 to 2022, the rate of growth in terms of prices for Vietnam amounted to X% per year.

Source: IndexBox Platform

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