Eastern Asia: Cashew Nut Market 2024

Cashew Nut Market Size in Eastern Asia

The East Asian cashew nut market dropped to $X in 2021, remaining constant against the previous year. Over the period under review, consumption, however, enjoyed a strong increase. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Cashew Nut Production in Eastern Asia

In value terms, cashew nut production rose rapidly to $X in 2021 estimated in export price. Overall, production, however, recorded a deep contraction. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Hong Kong SAR (X tons) constituted the country with the largest volume of cashew nut production, accounting for 97% of total volume. It was followed by China (X tons), with a 2.6% share of total production.

From 2012 to 2021, the average annual growth rate of volume in Hong Kong SAR was relatively modest.

The average cashew nut yield totaled X tons per ha in 2021, stabilizing at the previous year's figure. The yield figure increased at an average annual rate of +2.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when the yield increased by 53%. As a result, the yield reached the peak level of X tons per ha. From 2014 to 2021, the growth of the cashew nut yield remained at a somewhat 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 contracted slightly to X ha in 2021, approximately equating the previous year's figure. Over the period under review, the harvested area continues to indicate a pronounced curtailment. The pace of growth appeared the most rapid in 2014 when the harvested area increased by 44%. Over the period under review, the harvested area dedicated to cashew nut production attained the maximum at X ha in 2012; however, from 2013 to 2021, the harvested area remained at a lower figure.

Cashew Nut Exports

Exports in Eastern Asia

For the seventh year in a row, Eastern Asia recorded decline in overseas shipments of cashew nuts, which decreased by -48.9% to X tons in 2021. Over the period under review, exports continue to indicate a dramatic decline. The most prominent rate of growth was recorded in 2014 with an increase of 1.3% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, cashew nut exports reduced rapidly to $X in 2021. In general, exports showed a sharp shrinkage. The smallest decline of -10.5% was in 2014. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Hong Kong SAR prevails in exports structure, reaching X tons, which was near 92% of total exports in 2021. It was distantly followed by China (X tons), generating a 7.9% share of total exports.

Hong Kong SAR was also the fastest-growing in terms of the cashew nuts exports, with a CAGR of -20.0% from 2012 to 2021. China (-39.1%) illustrated a downward trend over the same period. Hong Kong SAR (+42 p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by -41.7% from 2012 to 2021, respectively.

In value terms, Hong Kong SAR ($X) remains the largest cashew nut supplier in Eastern Asia, comprising 84% of total exports. The second position in the ranking was taken by China ($X), with a 15% share of total exports.

In Hong Kong SAR, cashew nut exports contracted by an average annual rate of -28.1% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, standing approx. at the previous year. Over the period under review, the export price saw a drastic downturn. The most prominent rate of growth was recorded in 2013 when the export price increased by 33% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the export prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was China ($X per ton), while Hong Kong SAR amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+9.9%).

Cashew Nut Imports

Imports in Eastern Asia

In 2021, after two years of growth, there was significant decline in overseas purchases of cashew nuts, when their volume decreased by -12.7% to X tons. In general, imports, however, continue to indicate a strong expansion. The growth pace was the most rapid in 2017 with an increase of 1,601% against the previous year. Over the period under review, imports reached the maximum at X tons in 2020, and then shrank in the following year.

In value terms, cashew nut imports shrank notably to $X in 2021. Over the period under review, imports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2017 with an increase of 801%. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) represented the key importer of cashew nuts in Eastern Asia, comprising 99% of total import.

China was also the fastest-growing in terms of the cashew nuts imports, with a CAGR of +10.8% from 2012 to 2021. While the share of China (+4.4 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported cashew nuts in Eastern Asia.

In China, cashew nut imports expanded at an average annual rate of +11.1% over the period from 2012-2021.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, with a decrease of -9.3% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of 109% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the 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 China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to +0.3% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :