Pakistan: Cashew Nut Market 2024

Cashew Nut Market Size in Pakistan

In 2021, after two years of decline, there was significant growth in the Pakistani cashew nut market, when its value increased by 80% to $X. In general, consumption saw significant growth. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Cashew Nut Production in Pakistan

In value terms, cashew nut production amounted to $X in 2021 estimated in export price. Overall, production recorded pronounced growth. The pace of growth was the most pronounced in 2020 with a decrease of 99.9%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Cashew Nut Exports

Exports from Pakistan

In 2021, shipments abroad of cashew nuts decreased by -97.5% to X kg, falling for the second year in a row after three years of growth. Over the period under review, exports saw a precipitous setback. The pace of growth was the most pronounced in 2014 with an increase of 121% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, cashew nut exports fell rapidly to $X in 2021. In general, exports recorded a dramatic contraction. The most prominent rate of growth was recorded in 2014 when exports increased by 341% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Austria (X kg) was the main destination for cashew nut exports from Pakistan, with a 74% share of total exports. Moreover, cashew nut exports to Austria exceeded the volume sent to the second major destination, Saudi Arabia (X kg), fourfold.

From 2012 to 2021, the average annual growth rate of volume to Austria amounted to +35.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+9.1% per year) and Bahrain (-1.8% per year).

In value terms, Austria ($X), Bahrain ($X) and Saudi Arabia ($X) constituted the largest markets for cashew nut exported from Pakistan worldwide, together accounting for 92% of total exports.

Among the main countries of destination, Austria, with a CAGR of +23.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average cashew nut export price stood at $X per ton in 2021, increasing by 1.6% against the previous year. In general, the export price recorded a mild expansion. The growth pace was the most rapid in 2014 an increase of 100% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 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 Bahrain ($X per ton), while the average price for exports to Saudi Arabia ($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 Bahrain (+23.8%), while the prices for the other major destinations experienced a decline.

Cashew Nut Imports

Imports into Pakistan

In 2021, supplies from abroad of cashew nuts decreased by -88.9% to X tons, falling for the third consecutive year after three years of growth. Overall, imports recorded a abrupt slump. The most prominent rate of growth was recorded in 2013 with an increase of 424% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, cashew nut imports reduced markedly to $X in 2021. In general, imports saw a noticeable slump. The most prominent rate of growth was recorded in 2013 when imports increased by 446% against the previous year. Over the period under review, imports attained the maximum at $X in 2020, and then reduced markedly in the following year.

Imports by Country

In 2021, Nigeria (X tons) was the main supplier of cashew nut to Pakistan, accounting for a 96% share of total imports. Moreover, cashew nut imports from Nigeria exceeded the figures recorded by the second-largest supplier, Afghanistan (X kg), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from Nigeria stood at -3.7%.

In value terms, Nigeria ($X) constituted the largest supplier of cashew nut to Pakistan, comprising 87% of total imports. The second position in the ranking was taken by Afghanistan ($X), with a 12% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Nigeria stood at +14.2%.

Import Prices by Country

The average cashew nut import price stood at $X per ton in 2021, approximately reflecting the previous year. Over the period under review, import price indicated a pronounced increase from 2012 to 2021: its price increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cashew nut import price increased by +129.8% against 2018 indices. The growth pace was the most rapid in 2020 when the average import price increased by 61% against the previous year. As a result, import price attained the peak level of $X per ton, and then contracted in the following year.

Prices varied noticeably country of origin: the country with the highest price was Afghanistan ($X per ton), while the price for Nigeria stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Afghanistan (+33.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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