GCC: Cashew Nut Market 2025

Cashew Nut Market Size in GCC

The GCC cashew nut market reduced rapidly to $X in 2021, shrinking by -29.5% against the previous year. Over the period under review, consumption, however, saw buoyant growth. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Cashew Nut Production in GCC

In value terms, cashew nut production rose to $X in 2021 estimated in export price. Overall, production posted a resilient expansion. The most prominent rate of growth was recorded in 2016 when the production volume increased by 2,252% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Oman (X tons) remains the largest cashew nut producing country in GCC, accounting for 81% of total volume. Moreover, cashew nut production in Oman exceeded the figures recorded by the second-largest producer, Bahrain (X tons), fourfold.

In Oman, cashew nut production increased at an average annual rate of +4.3% over the period from 2012-2021.

Cashew Nut Exports

Exports in GCC

In 2021, overseas shipments of cashew nuts decreased by -2.8% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, exports showed a abrupt contraction. The most prominent rate of growth was recorded in 2016 with an increase of 401%. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, cashew nut exports soared to $X in 2021. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when exports increased by 222% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X tons) and Saudi Arabia (X tons) prevails in exports structure, together making up 97% of total exports. Oman (X tons) took a minor share of total exports.

From 2012 to 2021, the biggest increases were in Saudi Arabia (with a CAGR of +19.4%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, the largest cashew nut supplying countries in GCC were the United Arab Emirates ($X), Saudi Arabia ($X) and Oman ($X), with a combined 99.9% share of total exports.

Saudi Arabia, with a CAGR of +24.6%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, picking up by 38% against the previous year. Over the period under review, the export price posted prominent growth. The pace of growth appeared the most rapid in 2017 an increase of 363%. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was the United Arab Emirates ($X per ton), while Oman ($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 (+20.2%), while the other leaders experienced more modest paces of growth.

Cashew Nut Imports

Imports in GCC

In 2021, supplies from abroad of cashew nuts decreased by -33.9% to X tons for the first time since 2018, thus ending a two-year rising trend. Total imports indicated a perceptible increase from 2012 to 2021: its volume 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. The growth pace was the most rapid in 2013 when imports increased by 48% against the previous year. Over the period under review, imports hit record highs at X tons in 2020, and then fell notably in the following year.

In value terms, cashew nut imports declined sharply to $X in 2021. Overall, imports, however, continue to indicate a strong expansion. The growth pace was the most rapid in 2017 with an increase of 77%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Saudi Arabia (X tons) represented the major importer of cashew nuts, creating 65% of total imports. It was distantly followed by the United Arab Emirates (X tons), creating a 29% share of total imports. Oman (X tons) and Bahrain (X tons) held a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to cashew nut imports into Saudi Arabia stood at +3.4%. At the same time, Oman (+35.3%), the United Arab Emirates (+8.3%) and Bahrain (+2.5%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in GCC, with a CAGR of +35.3% from 2012-2021. The United Arab Emirates (+8.2 p.p.) and Oman (+3.3 p.p.) significantly strengthened its position in terms of the total imports, while Saudi Arabia saw its share reduced by -5.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Bahrain ($X) constituted the countries with the highest levels of imports in 2021, together comprising 98% of total imports. These countries were followed by Oman, which accounted for a further 1.3%.

In terms of the main importing countries, Oman, with a CAGR of +24.8%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in GCC amounted to $X per ton, rising by 7.6% against the previous year. Over the last nine years, it increased at an average annual rate of +3.1%. The most prominent rate of growth was recorded in 2017 when the import price increased by 43%. Over the period under review, import prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was the United Arab Emirates ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+6.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform