Western Africa: Cashew Nut Market 2025

Cashew Nut Market Size in Western Africa

The West African cashew nut market skyrocketed to $X in 2021, picking up by 81% against the previous year. Overall, consumption continues to indicate prominent growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Cashew Nut Production in Western Africa

In value terms, cashew nut production reduced to $X in 2021 estimated in export price. In general, production, however, posted noticeable growth. The pace of growth was the most pronounced in 2017 with an increase of 38%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

The countries with the highest volumes of production in 2021 were Cote d'Ivoire (X tons), Nigeria (X tons) and Ghana (X tons), with a combined 59% share of total production. Benin, Mali, Guinea-Bissau and Burkina Faso lagged somewhat behind, together comprising a further 29%.

From 2012 to 2021, the biggest increases were in Mali (with a CAGR of +16.3%), while production for the other leaders experienced more modest paces of growth.

The average cashew nut yield rose remarkably to X kg per ha in 2021, increasing by 7.2% on the year before. Over the period under review, the yield, however, showed a slight curtailment. The growth pace was the most rapid in 2016 when the yield increased by 11% against the previous year. The level of yield peaked at X kg 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.

In 2021, the total area harvested in terms of cashew nuts production in Western Africa reduced to X ha, which is down by -9.9% compared with the year before. The harvested area increased at an average annual rate of +3.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when the harvested area increased by 25%. As a result, the harvested area reached the peak level of X ha, and then shrank in the following year.

Cashew Nut Exports

Exports in Western Africa

In 2021, overseas shipments of cashew nuts decreased by -37.6% to X tons, falling for the third year in a row after two years of growth. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by 22%. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, cashew nut exports contracted sharply to $X in 2021. Overall, exports saw a slight reduction. The pace of growth was the most pronounced in 2017 with an increase of 32% against the previous year. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

The biggest shipments were from Benin (X tons), Nigeria (X tons), Ghana (X tons), Cote d'Ivoire (X tons), Guinea-Bissau (X tons), Burkina Faso (X tons) and Senegal (X tons), together accounting for 89% of total export. It was distantly followed by Guinea (X tons), making up a 5.2% share of total exports.

From 2012 to 2021, the biggest increases were in Senegal (with a CAGR of +26.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Benin ($X), Ghana ($X) and Guinea-Bissau ($X) appeared to be the countries with the highest levels of exports in 2021, together accounting for 50% of total exports. Nigeria, Cote d'Ivoire, Burkina Faso, Senegal and Guinea lagged somewhat behind, together accounting for a further 44%.

Among the main exporting countries, Senegal, with a CAGR of +22.9%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, rising by 2.6% against the previous year. Overall, the export price, however, recorded a mild descent. The most prominent rate of growth was recorded in 2017 when the export price increased by 20%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Guinea-Bissau ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Burkina Faso (+7.1%), while the other leaders experienced more modest paces of growth.

Cashew Nut Imports

Imports in Western Africa

After two years of growth, supplies from abroad of cashew nuts decreased by -59.4% to X tons in 2021. Overall, imports, however, enjoyed strong growth. The pace of growth was the most pronounced in 2020 with an increase of 232%. As a result, imports reached the peak of X tons, and then fell rapidly in the following year.

In value terms, cashew nut imports dropped notably to $X in 2021. In general, imports, however, showed a slight increase. The most prominent rate of growth was recorded in 2020 when imports increased by 96%. Over the period under review, imports attained the maximum at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

Niger represented the main importing country with an import of about X tons, which amounted to 62% of total imports. Gambia (X tons) ranks second in terms of the total imports with a 22% share, followed by Senegal (6.6%). Cote d'Ivoire (X tons) and Benin (X tons) followed a long way behind the leaders.

Niger was also the fastest-growing in terms of the cashew nuts imports, with a CAGR of +54.2% from 2012 to 2021. At the same time, Gambia (+42.3%), Senegal (+17.4%) and Cote d'Ivoire (+3.8%) displayed positive paces of growth. By contrast, Benin (-31.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Niger, Gambia and Senegal increased by +60, +21 and +3.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Niger ($X) constitutes the largest market for imported cashew nuts in Western Africa, comprising 54% of total imports. The second position in the ranking was held by Gambia ($X), with a 25% share of total imports. It was followed by Senegal, with a 12% share.

In Niger, cashew nut imports increased at an average annual rate of +65.1% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Gambia (+33.6% per year) and Senegal (+18.5% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2021, picking up by 19% against the previous year. In general, the import price, however, recorded a noticeable decrease. The pace of growth was the most pronounced in 2014 an increase of 32%. The level of import peaked at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Niger (+7.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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