Latin America and the Caribbean: Cashew Nut Market 2025

Cashew Nut Market Size in Latin America and the Caribbean

After two years of decline, the Latin American cashew nut market increased by 2.8% to $X in 2021. The total consumption indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +4.6% 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 -11.4% against 2018 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Cashew Nut Production in Latin America and the Caribbean

In value terms, cashew nut production surged to $X in 2021 estimated in export price. Overall, production, however, showed a slight expansion. The pace of growth was the most pronounced in 2018 when the production volume increased by 654% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

The country with the largest volume of cashew nut production was Brazil (X tons), comprising approx. 90% of total volume. It was followed by Colombia (X tons), with a 2.8% share of total production. Mexico (X tons) ranked third in terms of total production with a 2.5% share.

In Brazil, cashew nut production increased at an average annual rate of +6.3% over the period from 2012-2021. The remaining producing countries recorded the following average annual rates of production growth: Colombia (-3.4% per year) and Mexico (-1.6% per year).

In 2021, the average cashew nut yield in Latin America and the Caribbean contracted to X kg per ha, remaining constant against the year before. Over the period under review, the yield, however, posted a resilient increase. The pace of growth was the most pronounced in 2017 when the yield increased by 86%. Over the period under review, the cashew nut yield reached the maximum level at X kg per ha in 2020, and then fell slightly in the following year. 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 dropped modestly to X ha in 2021, approximately equating the previous year. In general, the harvested area recorded a abrupt decline. The most prominent rate of growth was recorded in 2020 when the harvested area increased by 0.1% against the previous year. The level of harvested area peaked at X ha in 2012; however, from 2013 to 2021, the harvested area failed to regain momentum.

Cashew Nut Exports

Exports in Latin America and the Caribbean

In 2021, shipments abroad of cashew nuts was finally on the rise to reach X tons for the first time since 2016, thus ending a four-year declining trend. In general, exports, however, showed a abrupt slump. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, cashew nut exports expanded slightly to $X in 2021. Over the period under review, exports, however, continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2020 with an increase of 9.3%. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The biggest shipments were from Brazil (X tons), Mexico (X tons) and Venezuela (X tons), together reaching 76% of total export. It was distantly followed by Colombia (X tons), committing an 11% share of total exports. The following exporters - Chile (X tons), Panama (X tons) and El Salvador (X tons) - each finished at a 12% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Venezuela (with a CAGR of +26.5%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest cashew nut supplying countries in Latin America and the Caribbean were Mexico ($X), Brazil ($X) and Venezuela ($X), together comprising 75% of total exports.

Among the main exporting countries, Venezuela, with a CAGR of +26.8%, saw the highest rates of growth with regard to the value of exports, 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 Latin America and the Caribbean stood at $X per ton in 2021, dropping by -36.4% against the previous year. In general, the export price saw a slight curtailment. The growth pace was the most rapid in 2020 when the export price increased by 44%. As a result, the export price reached the peak level of $X per ton, and then declined dramatically in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Chile ($X per ton), while El Salvador ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+10.7%), while the other leaders experienced more modest paces of growth.

Cashew Nut Imports

Imports in Latin America and the Caribbean

For the fourth year in a row, LatAmerica and the Caribbean recorded decline in supplies from abroad of cashew nuts, which decreased by -27.3% to X tons in 2021. Over the period under review, imports recorded a dramatic curtailment. The growth pace was the most rapid in 2017 with an increase of 321% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, cashew nut imports skyrocketed to $X in 2021. In general, imports continue to indicate a sharp setback. The most prominent rate of growth was recorded in 2017 when imports increased by 167% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Brazil (X tons) and Cayman Islands (X tons) dominates imports structure, together comprising 81% of total imports. It was distantly followed by Jamaica (X tons), committing a 4.6% share of total imports. Trinidad and Tobago (X tons) and the Dominican Republic (X tons) took a little share of total imports.

From 2012 to 2021, the biggest increases were in Cayman Islands (with a CAGR of +122.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X) constitutes the largest market for imported cashew nuts in Latin America and the Caribbean, comprising 55% of total imports. The second position in the ranking was held by Trinidad and Tobago ($X), with an 11% share of total imports. It was followed by Jamaica, with a 9.2% share.

In Brazil, cashew nut imports shrank by an average annual rate of -30.5% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Trinidad and Tobago (+8.5% per year) and Jamaica (+13.8% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2021, growing by 64% against the previous year. Over the period under review, the import price, however, continues to indicate a deep setback. Over the period under review, import prices reached the maximum at $X per ton in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was the Dominican Republic ($X per ton), while Cayman Islands ($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 Dominican Republic (+7.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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