Africa: Brazil Nut Market 2024

Brazil Nut Market Size in Africa

The African brazil nut market rose rapidly to $X in 2022, with an increase of 8.8% against the previous year. In general, consumption showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Brazil Nut Production in Africa

In value terms, brazil nut production amounted to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 8.2%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

The country with the largest volume of brazil nut production was Nigeria (X tons), comprising approx. 81% of total volume. Moreover, brazil nut production in Nigeria exceeded the figures recorded by the second-largest producer, Ghana (X tons), tenfold. The third position in this ranking was taken by Benin (X tons), with a 5.6% share.

From 2012 to 2022, the average annual growth rate of volume in Nigeria stood at +2.0%. The remaining producing countries recorded the following average annual rates of production growth: Ghana (+1.8% per year) and Benin (+2.2% per year).

Brazil Nut Exports

Exports in Africa

In 2022, after two years of growth, there was significant decline in shipments abroad of brazil nuts, when their volume decreased by -52.5% to X tons. Overall, exports saw a abrupt setback. The most prominent rate of growth was recorded in 2021 when exports increased by 165% against the previous year. As a result, the exports attained the peak of X tons, and then declined significantly in the following year.

In value terms, brazil nut exports reduced markedly to $X in 2022. In general, exports continue to indicate a deep reduction. The growth pace was the most rapid in 2021 with an increase of 442% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Nigeria dominates exports structure, reaching X tons, which was near 86% of total exports in 2022. It was distantly followed by Ghana (X tons), mixing up a 6.7% share of total exports. Benin (X tons) and Senegal (X tons) held a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to brazil nut exports from Nigeria stood at +2.6%. At the same time, Senegal (+30.7%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in Africa, with a CAGR of +30.7% from 2012-2022. By contrast, Benin (-6.5%) and Ghana (-24.3%) illustrated a downward trend over the same period. Nigeria (+51 p.p.) and Senegal (+2 p.p.) significantly strengthened its position in terms of the total exports, while Ghana saw its share reduced by -50.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) remains the largest brazil nut supplier in Africa, comprising 94% of total exports. The second position in the ranking was taken by Ghana ($X), with a 2.7% share of total exports. It was followed by Senegal, with a 1.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria totaled -8.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (-19.3% per year) and Senegal (+28.8% per year).

Export Prices by Country

In 2022, the export price in Africa amounted to $X per ton, jumping by 15% against the previous year. In general, the export price, however, showed a noticeable slump. The pace of growth was the most pronounced in 2021 when the export price increased by 105%. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while Benin ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+6.6%), while the other leaders experienced mixed trends in the export price figures.

Brazil Nut Imports

Imports in Africa

Brazil nut imports expanded slightly to X tons in 2022, increasing by 2.7% on the year before. Overall, imports, however, faced a abrupt decrease. The growth pace was the most rapid in 2020 with an increase of 289% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, brazil nut imports contracted sharply to $X in 2022. Over the period under review, imports, however, showed a deep slump. The growth pace was the most rapid in 2015 with an increase of 134%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Tunisia (X tons) represented the largest importer of brazil nuts, comprising 65% of total imports. It was distantly followed by Ghana (X tons) and Algeria (X tons), together achieving a 22% share of total imports. Egypt (X tons), Morocco (X tons) and Swaziland (X tons) took a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to brazil nut imports into Tunisia stood at -11.3%. At the same time, Swaziland (+14.8%), Ghana (+14.3%) and Egypt (+9.9%) displayed positive paces of growth. Moreover, Swaziland emerged as the fastest-growing importer imported in Africa, with a CAGR of +14.8% from 2012-2022. By contrast, Morocco (-12.0%) and Algeria (-18.2%) illustrated a downward trend over the same period. Ghana (+15 p.p.), Egypt (+3.1 p.p.) and Swaziland (+1.9 p.p.) significantly strengthened its position in terms of the total imports, while Tunisia and Algeria saw its share reduced by -6.5% and -8.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Tunisia ($X) constitutes the largest market for imported brazil nuts in Africa, comprising 72% of total imports. The second position in the ranking was taken by Ghana ($X), with an 8.9% share of total imports. It was followed by Algeria, with a 5.5% share.

In Tunisia, brazil nut imports contracted by an average annual rate of -11.8% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (+9.8% per year) and Algeria (-13.5% per year).

Import Prices by Country

The import price in Africa stood at $X per ton in 2022, reducing by -19.7% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 78% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Egypt ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Algeria (+5.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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