Asia: Brazil Nut Market 2024

Brazil Nut Market Size in Asia

The Asian brazil nut market shrank modestly to $X in 2021, almost unchanged from the previous year. Over the period under review, consumption, however, saw a noticeable shrinkage. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Brazil Nut Production in Asia

In value terms, brazil nut production declined to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.2% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2015 when the production volume increased by 17%. Over the period under review, production hit record highs at $X in 2020, and then contracted in the following year.

The country with the largest volume of brazil nut production was Hong Kong SAR (X tons), accounting for 46% of total volume. Moreover, brazil nut production in Hong Kong SAR exceeded the figures recorded by the second-largest producer, Thailand (X tons), twofold. Israel (X tons) ranked third in terms of total production with a 15% share.

From 2012 to 2021, the average annual growth rate of volume in Hong Kong SAR was relatively modest. In the other countries, the average annual rates were as follows: Thailand (+0.3% per year) and Israel (+1.9% per year).

Brazil Nut Exports

Exports in Asia

In 2021, overseas shipments of brazil nuts increased by 44% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, saw a abrupt shrinkage. The growth pace was the most rapid in 2014 with an increase of 128%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, brazil nut exports soared to $X in 2021. Overall, exports, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2017 with an increase of 87% against the previous year. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Hong Kong SAR was the key exporter of brazil nuts in Asia, with the volume of exports recording X tons, which was approx. 41% of total exports in 2021. Afghanistan (X tons) held the second position in the ranking, followed by Palestine (X tons), Vietnam (X tons), China (X tons) and India (X tons). All these countries together held near 48% share of total exports. Sri Lanka (X tons) followed a long way behind the leaders.

Exports from Hong Kong SAR decreased at an average annual rate of -8.9% from 2012 to 2021. At the same time, Sri Lanka (+34.8%), Palestine (+17.5%), Afghanistan (+8.6%), China (+7.1%) and Vietnam (+1.0%) displayed positive paces of growth. Moreover, Sri Lanka emerged as the fastest-growing exporter exported in Asia, with a CAGR of +34.8% from 2012-2021. By contrast, India (-7.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Afghanistan, Palestine, Vietnam, China, Sri Lanka and Hong Kong SAR increased by +11, +10, +6.3, +6.2, +2.8 and +2.5 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Hong Kong SAR ($X), Palestine ($X) and China ($X) were the countries with the highest levels of exports in 2021, together comprising 81% of total exports. Sri Lanka, Vietnam, India and Afghanistan lagged somewhat behind, together comprising a further 7.4%.

In terms of the main exporting countries, Sri Lanka, with a CAGR of +41.5%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, growing by 17% against the previous year. Over the last nine years, it increased at an average annual rate of +1.8%. The pace of growth appeared the most rapid in 2017 when the export price increased by 29%. Over the period under review, the export prices reached the peak figure in 2021 and is likely to see gradual growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Palestine ($X per ton), while Afghanistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+15.6%), while the other leaders experienced more modest paces of growth.

Brazil Nut Imports

Imports in Asia

In 2021, the amount of brazil nuts imported in Asia surged to X tons, increasing by 21% on 2020. Over the period under review, imports, however, recorded a noticeable reduction. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, brazil nut imports expanded notably to $X in 2021. In general, imports, however, continue to indicate a abrupt decline. The pace of growth appeared the most rapid in 2018 with an increase of 27% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Vietnam dominates imports structure, resulting at X tons, which was approx. 84% of total imports in 2021. It was distantly followed by India (X tons), comprising a 5.1% share of total imports. The following importers - the United Arab Emirates (X tons) and Hong Kong SAR (X tons) - each amounted to a 4.2% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to brazil nut imports into Vietnam stood at +14.2%. At the same time, the United Arab Emirates (+15.1%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in Asia, with a CAGR of +15.1% from 2012-2021. By contrast, India (-10.8%) and Hong Kong SAR (-30.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Vietnam and the United Arab Emirates increased by +64 and +1.8 percentage points, respectively.

In value terms, Vietnam ($X) constitutes the largest market for imported brazil nuts in Asia, comprising 64% of total imports. The second position in the ranking was held by India ($X), with an 8.3% share of total imports. It was followed by Hong Kong SAR, with a 4.4% share.

In Vietnam, brazil nut imports increased at an average annual rate of +5.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: India (-13.8% per year) and Hong Kong SAR (-30.1% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2021, reducing by -8.8% against the previous year. Over the period under review, the import price continues to indicate a drastic downturn. The pace of growth was the most pronounced in 2018 when the import price increased by 6.6%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Hong Kong SAR ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+9.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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