Myanmar: Market for Nuts (Prepared Or Preserved) 2024

Market Size for Nuts (Prepared Or Preserved) in Myanmar

In 2021, the Myanmar's nuts (prepared or preserved) market decreased by -27.9% to $X for the first time since 2018, thus ending a two-year rising trend. Overall, consumption, however, recorded a remarkable increase. As a result, consumption attained the peak level of $X, and then contracted rapidly in the following year.

Production of Nuts (Prepared Or Preserved) in Myanmar

In value terms, nuts (prepared or preserved) production dropped notably to $X in 2021 estimated in export price. Overall, production, however, posted buoyant growth. The most prominent rate of growth was recorded in 2020 when the production volume increased by 126% against the previous year. As a result, production attained the peak level of $X, and then contracted notably in the following year.

Exports of Nuts (Prepared Or Preserved)

Exports from Myanmar

In 2021, approx. X tons of nuts (prepared or preserved) were exported from Myanmar; shrinking by -27.9% compared with the previous year's figure. Over the period under review, exports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 886%. As a result, the exports attained the peak of X tons, and then declined sharply in the following year.

In value terms, nuts (prepared or preserved) exports dropped markedly to $X in 2021. In general, exports, however, posted significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 879%. As a result, the exports attained the peak of $X, and then reduced dramatically in the following year.

Exports by Country

South Korea (X tons) was the main destination for nuts (prepared or preserved) exports from Myanmar, accounting for a 95% share of total exports. It was followed by China (X tons), with a 1.9% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to South Korea amounted to +48.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+396.8% per year) and Malaysia (+48.8% per year).

In value terms, South Korea ($X) remains the key foreign market for nuts (prepared or preserved) exports from Myanmar, comprising 92% of total exports. The second position in the ranking was taken by China ($X), with a 5% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to South Korea totaled +50.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+418.3% per year) and Malaysia (+54.9% per year).

Export Prices by Country

The average nuts (prepared or preserved) export price stood at $X per ton in 2021, reducing by -5.4% against the previous year. Over the last nine years, it increased at an average annual rate of +1.3%. The growth pace was the most rapid in 2019 an increase of 13%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was China ($X per ton), while the average price for exports to Malaysia ($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 Malaysia (+4.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Nuts (Prepared Or Preserved)

Imports into Myanmar

In 2021, approx. X tons of nuts (prepared or preserved) were imported into Myanmar; which is down by -7.2% on the year before. In general, imports continue to indicate a abrupt setback. The pace of growth was the most pronounced in 2013 with an increase of 128% against the previous year. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, nuts (prepared or preserved) imports fell to $X in 2021. Overall, imports saw a deep slump. The most prominent rate of growth was recorded in 2013 when imports increased by 105% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of nuts (prepared or preserved) to Myanmar, with a 75% share of total imports. Moreover, nuts (prepared or preserved) imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), sixfold. The third position in this ranking was held by Thailand (X tons), with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-20.4% per year) and Thailand (-17.7% per year).

In value terms, China ($X) constituted the largest supplier of nuts (prepared or preserved) to Myanmar, comprising 70% of total imports. The second position in the ranking was taken by Thailand ($X), with an 18% share of total imports. It was followed by India, with an 8.2% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-19.5% per year) and India (-22.6% per year).

Import Prices by Country

In 2021, the average nuts (prepared or preserved) import price amounted to $X per ton, growing by 4.6% against the previous year. Overall, the import price, however, showed a pronounced decline. The pace of growth appeared the most rapid in 2017 when the average import price increased by 54% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Singapore ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+8.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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