Canada: Brazil Nut Market 2024

Brazil Nut Market Size in Canada

In 2022, the Canadian brazil nut market increased by 91% to $X, rising for the second consecutive year after three years of decline. Over the period under review, consumption posted perceptible growth. Over the period under review, the market reached the maximum level in 2022 and is likely to see steady growth in the immediate term.

Brazil Nut Production in Canada

In value terms, brazil nut production dropped notably to $X in 2022 estimated in export price. Over the period under review, production, however, saw a significant increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by 41,689,800%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

The average yield of brazil nuts in Canada totaled less than X kg per ha in 2022, approximately mirroring the year before. In general, the yield recorded a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. less than X ha of brazil nuts were harvested in Canada; therefore, remained relatively stable against 2021 figures. In general, the harvested area showed a relatively flat trend pattern.

Brazil Nut Exports

Exports from Canada

In 2022, shipments abroad of brazil nuts decreased by -98.2% to X tons, falling for the third year in a row after two years of growth. Over the period under review, exports, however, posted perceptible growth. The growth pace was the most rapid in 2018 when exports increased by 10,727% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, brazil nut exports contracted dramatically to $X in 2022. In general, exports, however, showed a measured increase. The growth pace was the most rapid in 2018 when exports increased by 10,912%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X kg), Qatar (X kg) and the United States (X kg) were the main destinations of brazil nut exports from Canada, together accounting for 70% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +35.8%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) emerged as the key foreign market for brazil nuts exports from Canada, comprising 53% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 16% share of total exports. It was followed by Qatar, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +23.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-78.8% per year) and Qatar (-14.3% per year).

Export Prices by Country

The average brazil nut export price stood at $X per ton in 2022, jumping by 62% against the previous year. Over the period under review, export price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, brazil nut export price increased by +76.2% against 2020 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Qatar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+3.0%), while the prices for the other major destinations experienced more modest paces of growth.

Brazil Nut Imports

Imports into Canada

In 2022, approx. X tons of brazil nuts were imported into Canada; growing by 25% compared with the previous year's figure. Overall, imports, however, continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2016 with an increase of 150% against the previous year. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, brazil nut imports surged to $X in 2022. In general, imports, however, faced a abrupt shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of 137% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Brazil (X tons), the United States (X tons) and Peru (X tons) were the main suppliers of brazil nut imports to Canada, together comprising 98% of total imports.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of +8.5%), while purchases for the other leaders experienced a decline.

In value terms, Brazil ($X), the United States ($X) and Peru ($X) appeared to be the largest brazil nut suppliers to Canada, together accounting for 97% of total imports.

Brazil, with a CAGR of +4.9%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average brazil nut import price amounted to $X per ton, with a decrease of -3.6% against the previous year. Over the period under review, the import price saw a noticeable curtailment. The most prominent rate of growth was recorded in 2021 when the average import price increased by 6.8% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Bolivia ($X per ton) and the United States ($X per ton), while the price for Peru ($X per ton) and Brazil ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bolivia (-2.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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