Thailand: Cashew Nut Market 2025

Cashew Nut Market Size in Thailand

For the fifth consecutive year, the Thai cashew nut market recorded decline in sales value, which decreased by -6.4% to $X in 2021. Over the period under review, consumption showed a deep setback. Cashew nut consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Cashew Nut Production in Thailand

In value terms, cashew nut production totaled $X in 2021 estimated in export price. In general, production, however, continues to indicate a noticeable decline. The pace of growth appeared the most rapid in 2016 when the production volume increased by 33%. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

In 2021, the average cashew nut yield in Thailand reached X tons per ha, stabilizing at 2020 figures. Over the period under review, the yield, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the yield increased by 15%. The cashew nut yield peaked at X tons per ha in 2014; however, from 2015 to 2021, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, the total area harvested in terms of cashew nuts production in Thailand dropped to X ha, approximately reflecting the year before. Over the period under review, the harvested area showed a mild downturn. The pace of growth appeared the most rapid in 2017 when the harvested area increased by 1.4%. Over the period under review, the harvested area dedicated to cashew nut production attained the maximum at X ha in 2012; however, from 2013 to 2021, the harvested area remained at a lower figure.

Cashew Nut Exports

Exports from Thailand

In 2021, the amount of cashew nuts exported from Thailand soared to X tons, with an increase of 26% compared with 2020 figures. Over the period under review, exports continue to indicate significant growth. The pace of growth was the most pronounced in 2014 when exports increased by 31,397% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the near future.

In value terms, cashew nut exports soared to $X in 2021. Overall, exports posted significant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 34,815% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Cambodia (X tons), Vietnam (X tons) and Lao People's Democratic Republic (X tons) were the main destinations of cashew nut exports from Thailand, together comprising 98% of total exports.

From 2012 to 2021, the biggest increases were in Cambodia (with a CAGR of +190.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cashew nut exported from Thailand were Cambodia ($X), Vietnam ($X) and India ($X), together comprising 96% of total exports.

Vietnam, with a CAGR of +153.1%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average cashew nut export price stood at $X per ton in 2021, waning by -7.1% against the previous year. In general, the export price showed a abrupt contraction. The growth pace was the most rapid in 2016 when the average export price increased by 15%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was India ($X per ton), while the average price for exports to Lao People's Democratic Republic ($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 Vietnam (+1.0%), while the prices for the other major destinations experienced a decline.

Cashew Nut Imports

Imports into Thailand

Cashew nut imports into Thailand surged to X tons in 2021, growing by 175% on the year before. Over the period under review, imports continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 2,779%. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, cashew nut imports skyrocketed to $X in 2021. Overall, imports posted a buoyant increase. The most prominent rate of growth was recorded in 2013 with an increase of 2,035%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Lao People's Democratic Republic (X tons) constituted the largest supplier of cashew nut to Thailand, with a 50% share of total imports. Moreover, cashew nut imports from Lao People's Democratic Republic exceeded the figures recorded by the second-largest supplier, Myanmar (X tons), twofold.

From 2012 to 2021, the average annual growth rate of volume from Lao People's Democratic Republic amounted to +41.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Myanmar (+15.3% per year) and Cambodia (+5.6% per year).

In value terms, Myanmar ($X), Cambodia ($X) and Lao People's Democratic Republic ($X) were the largest cashew nut suppliers to Thailand, with a combined 100% share of total imports.

Myanmar, with a CAGR of +34.4%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average cashew nut import price amounted to $X per ton, growing by 103% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. Over the period under review, average import prices attained the maximum at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Myanmar ($X per ton), while the price for Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Myanmar (+16.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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