Report Update Nov 1, 2024

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

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Colombia: Cashew Nut Market 2024

Cashew Nut Market Size in Colombia

After two years of growth, the Colombian cashew nut market decreased by -6.2% to $X in 2021. Overall, consumption recorded a pronounced reduction. Cashew nut consumption peaked at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Cashew Nut Production in Colombia

In value terms, cashew nut production fell to $X in 2021 estimated in export price. Overall, production continues to indicate a perceptible decrease. The most prominent rate of growth was recorded in 2014 with an increase of 93% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

In 2021, the average cashew nut yield in Colombia rose sharply to X tons per ha, surging by 11% against 2020. In general, the yield, however, continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2019 when the yield increased by 19%. Over the period under review, the average cashew nut yield hit record highs at X tons per ha in 2012; however, from 2013 to 2021, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The cashew nut harvested area in Colombia shrank to X ha in 2021, waning by -13.2% against the previous year. In general, the total harvested area indicated a tangible expansion from 2012 to 2021: its figure increased at an average annual rate of +4.4% 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 harvested area increased by +1.1% against 2017 indices. The growth pace was the most rapid in 2014 with an increase of 70%. Over the period under review, the harvested area dedicated to cashew nut production attained the peak figure at X ha in 2020, and then reduced in the following year.

Cashew Nut Exports

Exports from Colombia

In 2021, shipments abroad of cashew nuts was finally on the rise to reach X tons after six years of decline. Over the period under review, exports, however, recorded a abrupt curtailment. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, cashew nut exports surged to $X in 2021. Overall, exports, however, faced a abrupt contraction. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

India (X tons) and Vietnam (X tons) were the main destinations of cashew nut exports from Colombia.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of -14.3%).

In value terms, India ($X) and Vietnam ($X) were the largest markets for cashew nut exported from Colombia worldwide.

In terms of the main countries of destination, India, with a CAGR of -1.5%, saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

The average cashew nut export price stood at $X per ton in 2021, picking up by 15% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 17% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2021, the country with the highest price was India ($X per ton), while the average price for exports to Vietnam amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (+14.8%).

Cashew Nut Imports

Imports into Colombia

For the eighth year in a row, Colombia recorded growth in purchases abroad of cashew nuts, which increased by 2.7% to X tons in 2021. Overall, imports, however, continue to indicate a perceptible setback. The most prominent rate of growth was recorded in 2017 when imports increased by 46% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, cashew nut imports contracted markedly to $X in 2021. Over the period under review, imports, however, saw a deep downturn. The pace of growth appeared the most rapid in 2017 when imports increased by 81%. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, the United States (X tons) was the main supplier of cashew nut to Colombia, accounting for a approx. 100% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States stood at -2.2%.

In value terms, the United States ($X) constituted the largest supplier of cashew nut to Colombia.

From 2012 to 2021, the average annual growth rate of value from the United States amounted to -5.2%.

Import Prices by Country

In 2021, the average cashew nut import price amounted to $X per ton, shrinking by -26.5% against the previous year. Overall, the import price saw a pronounced curtailment. The pace of growth was the most pronounced in 2017 when the average import price increased by 24%. As a result, import price reached the peak level of $X per ton. From 2018 to 2021, the average import prices remained at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From 2012 to 2021, the rate of growth in terms of prices for the United States amounted to -3.0% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for cashew nuts in the world?

Vietnam constituted the country with the largest volume of cashew nut consumption, comprising approx. 41% of total volume. Moreover, cashew nut consumption in Vietnam exceeded the figures recorded by the second-largest consumer, India, twofold. The third position in this ranking was occupied by Burundi, with a 6.7% share.

What are the largest producers of cashew nuts in the world?

The countries with the highest volumes of cashew nut production in 2021 were India, Cote d'Ivoire and Vietnam, with a combined 39% share of global production. Ghana, Burundi, Tanzania, the Philippines, Nigeria, Mali, Benin, Guinea-Bissau, Burkina Faso and Brazil lagged somewhat behind, together comprising a further 46%.

What are the leading suppliers of cashew nuts to Colombia?

In value terms, the United States constituted the largest supplier of cashew nut to Colombia.

What are the leading importers of cashew nuts from Colombia?

In value terms, Vietnam remains the key foreign market for cashew nut exports from Colombia.

What is the average export price for cashew nuts in Colombia?

The average cashew nut export price stood at $929 per ton in 2021, reducing by -3.3% against the previous year.

What is the average import price for cashew nuts in Colombia?

The average cashew nut import price stood at $5,847 per ton in 2021, waning by -13% against the previous year.

This report provides an in-depth analysis of the cashew nut market in Colombia. 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:

Colombia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Colombia
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
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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:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
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. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
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. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
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, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Area Harvested, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023