Asia: Cashew Nut Market 2025

Cashew Nut Market Size in Asia

In 2021, the Asian cashew nut market decreased by -25.2% to $X, falling for the third consecutive year after seven years of growth. The total consumption indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -37.0% against 2018 indices. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Cashew Nut Production in Asia

In value terms, cashew nut production dropped to $X in 2021 estimated in export price. The total production indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +8.4% against 2019 indices. The pace of growth was the most pronounced in 2015 with an increase of 47%. The level of production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

India (X tons) remains the largest cashew nut producing country in Asia, accounting for 47% of total volume. Moreover, cashew nut production in India exceeded the figures recorded by the second-largest producer, Vietnam (X tons), twofold. The Philippines (X tons) ranked third in terms of total production with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of volume in India was relatively modest. In the other countries, the average annual rates were as follows: Vietnam (+0.2% per year) and the Philippines (+7.3% per year).

In 2021, the average cashew nut yield in Asia declined to X kg per ha, with a decrease of -2.1% compared with the year before. The yield figure increased at an average annual rate of +1.4% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2015 with an increase of 10% against the previous year. Over the period under review, the cashew nut yield hit record highs at X kg per ha in 2018; however, from 2019 to 2021, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, approx. X ha of cashew nuts were harvested in Asia; remaining relatively unchanged against the previous year's figure. Overall, the harvested area, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the harvested area increased by 4.9%. The level of harvested area peaked at X ha in 2020, and then dropped slightly in the following year.

Cashew Nut Exports

Exports in Asia

In 2021, the amount of cashew nuts exported in Asia contracted markedly to X tons, falling by -15.2% on 2020. In general, exports saw a slight curtailment. The most prominent rate of growth was recorded in 2019 with an increase of 31%. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, cashew nut exports dropped significantly to $X in 2021. Over the period under review, exports continue to indicate a pronounced descent. The most prominent rate of growth was recorded in 2014 with an increase of 15% against the previous year. The level of export peaked at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Indonesia (X tons) represented the main exporter of cashew nuts, committing 57% of total exports. India (X tons) held a 28% share (based on physical terms) of total exports, which put it in second place, followed by Thailand (7%). The following exporters - Vietnam (X tons), Myanmar (X tons) and Cambodia (X tons) - each accounted for a 5.8% share of total exports.

Indonesia experienced a relatively flat trend pattern with regard to volume of exports of cashew nuts. At the same time, Thailand (+108.7%), India (+23.9%) and Myanmar (+1.1%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in Asia, with a CAGR of +108.7% from 2012-2021. By contrast, Vietnam (-1.0%) and Cambodia (-28.1%) illustrated a downward trend over the same period. While the share of India (+24 p.p.), Thailand (+7 p.p.) and Indonesia (+1.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Cambodia (-25 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) remains the largest cashew nut supplier in Asia, comprising 54% of total exports. The second position in the ranking was taken by India ($X), with a 26% share of total exports. It was followed by Vietnam, with a 9.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Indonesia was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: India (+26.3% per year) and Vietnam (-2.8% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, waning by -7% against the previous year. In general, the export price saw a mild reduction. The pace of growth was the most pronounced in 2016 an increase of 17%. Over the period under review, the export prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+1.9%), while the other leaders experienced mixed trends in the export price figures.

Cashew Nut Imports

Imports in Asia

In 2021, overseas purchases of cashew nuts decreased by -41.8% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 28% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, cashew nut imports shrank rapidly to $X in 2021. In general, imports, however, saw temperate growth. The most prominent rate of growth was recorded in 2015 when imports increased by 45% against the previous year. The level of import peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, India (X tons) was the largest importer of cashew nuts, constituting 70% of total imports. It was distantly followed by Vietnam (X tons), generating a 28% share of total imports.

India experienced a relatively flat trend pattern with regard to volume of imports of cashew nuts. Vietnam experienced a relatively flat trend pattern. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported cashew nuts in Asia, comprising 73% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 24% share of total imports.

In India, cashew nut imports increased at an average annual rate of +2.2% over the period from 2012-2021.

Import Prices by Country

The import price in Asia stood at $X per ton in 2021, increasing by 2.8% against the previous year. Import price indicated a mild expansion from 2012 to 2021: its price increased at an average annual rate of +1.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cashew nut import price decreased by -38.1% against 2017 indices. The pace of growth was the most pronounced in 2017 when the import price increased by 25% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2021, the country with the highest price was India ($X per ton), while Vietnam totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+1.5%).

Source: IndexBox Platform

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