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India - Cashew Nuts - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Jun 1, 2025

India - Cashew Nuts - Market Analysis, Forecast, Size, Trends and Insights

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Feb 8, 2025

India Sees a Sharp 29% Decline in Cashew Nut Imports, Dropping to $1.3 Billion in 2024

India Cashew Nut Imports

In 2024, purchases abroad of cashew nuts decreased by -5.8% to 1.1M tons, falling for the second year in a row after three years of growth. In general, total imports indicated a perceptible increase from 2014 to 2024: its volume increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, imports decreased by -19.0% against 2022 indices. The most prominent rate of growth was recorded in 2022 when imports increased by 57%. As a result, imports reached the peak of 1.4M tons. From 2023 to 2024, the growth of imports remained at a somewhat lower figure.

In value terms, cashew nut imports fell to $1.2B (IndexBox estimates) in 2024. Overall, total imports indicated a modest expansion from 2014 to 2024: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, imports decreased by -34.9% against 2022 indices. The growth pace was the most rapid in 2022 when imports increased by 67% against the previous year. As a result, imports reached the peak of $1.9B. From 2023 to 2024, the growth of imports failed to regain momentum.India Cashew Nut Imports By Country (Million USD)

COUNTRYImport Value of Cashew Nut in India (million USD)
2014201520162017201820192020202120222023
Cote d'Ivoire349415324299331156106129349236
Ghana73.788.654.892.5185141141173294199
Benin141192123120279224178251268182
Guinea-Bissau160201209252129122128143202137
Tanzania13920219830821124.222076.3157106
Nigeria25.253.951.864.811847.739.047.410873.0
Guinea18.423.225.430.241.245.135.753.199.367.2
Others119139193284414337239253408335
Total1,0261,3131,1811,4511,7081,0981,0871,1261,8861,335

Imports by Country

Cote d'Ivoire (223K tons), Ghana (184K tons) and Benin (152K tons) were the main suppliers of cashew nut imports to India, with a combined 47% share of total imports. [[guinea-bissau]]Guinea-Bissau, Tanzania, Nigeria and Guinea lagged somewhat behind, together comprising a further 27%.

From 2014 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Guinea (with a CAGR of +15.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($236M), Ghana ($199M) and Benin ($182M) constituted the largest cashew nut suppliers to India, with a combined 46% share of total imports. [[guinea-bissau]]Guinea-Bissau, Tanzania, Nigeria and Guinea lagged somewhat behind, together comprising a further 29%.

Guinea, with a CAGR of +15.5%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the cashew nut price stood at $1,130 per ton (CIF, India), dropping by -17.6% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 27%. As a result, import price attained the peak level of $2,069 per ton. From 2018 to 2023, the average import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2023, amid the top importers, the highest price was recorded for prices from [[guinea-bissau]]Guinea-Bissau ($1,284 per ton) and Senegal ($1,270 per ton), while the price for the United Arab Emirates ($992 per ton) and Guinea ($1,041 per ton) were amongst the lowest.

From 2014 to 2023, the most notable rate of growth in terms of prices was attained by Nigeria (+1.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the cashew nut market in India. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • FCL 217 - Cashew nuts

Country coverage:

  • India

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in India
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND THE AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional EditionPRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and its Prospects

    1. MARKET SIZE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. MARKET STRUCTURE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    3. TRADE BALANCE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    4. PER CAPITA CONSUMPTION: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    5. MARKET FORECAST TO 2035

  4. 4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION

    Finding New Products to Diversify Your Business

    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCTS
    4. MOST TRADED PRODUCTS
    5. MOST PROFITABLE PRODUCTS FOR EXPORTS

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. COUNTRIES WITH TOP YIELDS
    4. TOP EXPORTING COUNTRIES
    5. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Export

    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
    3. IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
    3. EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

  11. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    3. Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
    4. Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
    5. Imports, In Physical Terms, By Country, 2012-2024
    6. Imports, In Value Terms, By Country, 2012-2024
    7. Import Prices, By Country, 2012-2024
    8. Exports, In Physical Terms, By Country, 2012-2024
    9. Exports, In Value Terms, By Country, 2012-2024
    10. Exports Prices, By Country, 2012-2024

  12. LIST OF FIGURES

    1. Market Volume, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    2. Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
    3. Market Structure – Domestic Supply Vs. Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    4. Market Structure – Domestic Supply Vs. Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    5. Trade Balance, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    6. Trade Balance, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    7. Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
    8. Market Volume Forecast to 2035
    9. Market Value Forecast to 2035
    10. Market Size and Growth, by Product
    11. Average Per Capita Consumption, by Product
    12. Exports and Growth, by Product
    13. Export Prices and Growth, by Product
    14. Production Volume and Growth
    15. Yield and Growth
    16. Exports and Growth
    17. Export Prices and Growth
    18. Market Size and Growth
    19. Per Capita Consumption
    20. Imports and Growth
    21. Import Prices
    22. Production, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    23. Production, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    24. Harvested Area: Historical Data (2012–2024) and Forecast (2025–2035)
    25. Yield: Historical Data (2012–2024) and Forecast (2025–2035)
    26. Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    27. Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    28. Imports, in Physical Terms, by Country, 2024
    29. Imports, in Physical Terms, by Country, 2012-2024
    30. Imports, in Value Terms, by Country, 2012-2024
    31. Import Prices, by Country, 2012-2024
    32. Exports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    33. Exports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    34. Exports, in Physical Terms, by Country, 2024
    35. Exports, in Physical Terms, by Country, 2012-2024
    36. Exports, in Value Terms, by Country, 2012-2024
    37. Export Prices, by Country, 2012-2024

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