Myanmar: Cashew Nut Market 2024

Cashew Nut Market Size in Myanmar

The Myanmar's cashew nut market declined slightly to $X in 2021, flattening at the previous year. In general, consumption continues to indicate a deep downturn. Cashew nut consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Cashew Nut Production in Myanmar

In value terms, cashew nut production skyrocketed to $X in 2021 estimated in export price. In general, production, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2013 with an increase of 311% against the previous year. Cashew nut production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

The average yield of cashew nuts in Myanmar contracted significantly to X tons per ha in 2021, which is down by -34.8% on 2020 figures. Over the period under review, the yield recorded a drastic downturn. The pace of growth appeared the most rapid in 2020 when the yield increased by 230% against the previous year. The cashew nut yield peaked at X tons per ha in 2012; however, from 2013 to 2021, the yield stood 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 in Myanmar shrank modestly to X ha in 2021, approximately reflecting 2020. The harvested area increased at an average annual rate of +1.4% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 with an increase of 12%. As a result, the harvested area reached the peak level of X ha. From 2016 to 2021, the growth of the cashew nut harvested area failed to regain momentum.

Cashew Nut Exports

Exports from Myanmar

In 2021, exports of cashew nuts from Myanmar fell rapidly to X tons, declining by -51.7% against 2020. Over the period under review, exports, however, showed slight growth. The pace of growth was the most pronounced in 2020 when exports increased by 1,626% against the previous year. As a result, the exports reached the peak of X tons, and then contracted significantly in the following year.

In value terms, cashew nut exports dropped notably to $X in 2021. In general, exports saw a abrupt decrease. The most prominent rate of growth was recorded in 2020 with an increase of 931%. As a result, the exports attained the peak of $X, and then shrank markedly in the following year.

Exports by Country

Vietnam (X tons) was the main destination for cashew nut exports from Myanmar, accounting for a 75% share of total exports. Moreover, cashew nut exports to Vietnam exceeded the volume sent to the second major destination, China (X tons), fourfold. Malaysia (X tons) ranked third in terms of total exports with a 2.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Vietnam totaled +29.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-12.6% per year) and Malaysia (+38.3% per year).

In value terms, China ($X) remains the key foreign market for cashew nut exports from Myanmar, comprising 69% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 19% share of total exports. It was followed by Malaysia, with a 4.2% share.

From 2012 to 2021, the average annual growth rate of value to China amounted to -11.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+22.8% per year) and Malaysia (+36.8% per year).

Export Prices by Country

The average cashew nut export price stood at $X per ton in 2021, with a decrease of -45.7% against the previous year. Overall, the export price continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2013 when the average export price increased by 89% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was China ($X per ton), while the average price for exports to Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+15.0%), while the prices for the other major destinations experienced more modest paces of growth.

Cashew Nut Imports

Imports into Myanmar

In 2021, purchases abroad of cashew nuts decreased by -73.3% to X tons, falling for the eighth consecutive year after two years of growth. Overall, imports showed a precipitous shrinkage. The pace of growth was the most pronounced in 2013 with an increase of 46% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, cashew nut imports dropped sharply to $X in 2021. In general, imports recorded a deep setback. The most prominent rate of growth was recorded in 2013 with an increase of 61%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Cote d'Ivoire (X tons) constituted the largest supplier of cashew nut to Myanmar, with a 89% share of total imports. Moreover, cashew nut imports from Cote d'Ivoire exceeded the figures recorded by the second-largest supplier, Thailand (X tons), eightfold.

From 2012 to 2021, the average annual growth rate of volume from Cote d'Ivoire totaled -6.4%.

In value terms, Cote d'Ivoire ($X) constituted the largest supplier of cashew nut to Myanmar, comprising 90% of total imports. The second position in the ranking was taken by Thailand ($X), with a 9.7% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Cote d'Ivoire stood at +15.7%.

Import Prices by Country

In 2021, the average cashew nut import price amounted to $X per ton, rising by 88% against the previous year. Overall, the import price enjoyed a buoyant increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, the country with the highest price was Cote d'Ivoire ($X per ton), while the price for Thailand stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+23.6%).

Source: IndexBox Platform

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