Cashew Nut Market Size in Africa
The African cashew nut market surged to $X in 2021, jumping by 70% against the previous year. Overall, consumption continues to indicate a resilient expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term. Cashew Nut Production in Africa In value terms, cashew nut production fell modestly to $X in 2021 estimated in export price. In general, production, however, enjoyed pronounced growth. The pace of growth was the most pronounced in 2017 when the production volume increased by 52%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.
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 46% share of total production. Tanzania, Burundi, Benin, Mali, Guinea-Bissau and Burkina Faso lagged somewhat behind, together comprising a further 40%. From 2012 to 2021, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Mali (with a CAGR of +16.3%), while production for the other leaders experienced more modest paces of growth. The average cashew nut yield was estimated at X kg per ha in 2021, leveling off at the previous year. Overall, the yield, however, showed a slight shrinkage.
The growth pace was the most rapid in 2016 when the yield increased by 15% 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, approx. X ha of cashew nuts were harvested in Africa; reducing by -5% compared with 2020. The total harvested area indicated a resilient expansion from 2012 to 2021: its figure increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cashew nut harvested area increased by +55.2% against 2012 indices. The growth pace was the most rapid in 2017 when the harvested area increased by 21%. The level of harvested area peaked at X ha in 2020, and then dropped slightly in the following year.
Cashew Nut Exports Exports in Africa
In 2021, after two years of growth, there was significant decline in shipments abroad of cashew nuts, when their volume decreased by -42.5% to X tons. In general, exports saw a slight reduction. The most prominent rate of growth was recorded in 2013 when exports increased by 21% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2020, and then fell dramatically in the following year. In value terms, cashew nut exports declined dramatically to $X in 2021. Over the period under review, exports showed a perceptible curtailment. The growth pace was the most rapid in 2017 with an increase of 37%. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.
Exports by Country
The biggest shipments were from Benin (X tons), Nigeria (X tons), Ghana (X tons), Cote d’Ivoire (X tons), Guinea-Bissau (X tons), Burkina Faso (X tons) and Senegal (X tons), together recording 82% of total export. Tanzania (X tons) ranks next in terms of the total exports with a 5% share, followed by Guinea (4.7%). Togo (X tons) held a relatively small share of total exports. From 2012 to 2021, the biggest increases were in Togo (with a CAGR of +49.4%), while shipments for the other leaders experienced more modest paces of growth. In value terms, Benin ($X), Ghana ($X) and Guinea-Bissau ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 45% share of total exports. These countries were followed by Nigeria, Cote d’Ivoire, Burkina Faso, Senegal, Tanzania, Guinea and Togo, which together accounted for a further 49%. Togo, with a CAGR of +44.2%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries 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 Africa stood at $X per ton in 2021, approximately equating the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 17%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure. There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Guinea-Bissau ($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 Africa In 2021, the amount of cashew nuts imported in Africa dropped sharply to X tons, falling by -69.9% compared with the year before.
In general, imports, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2020 with an increase of 432% against the previous year. As a result, imports reached the peak of X tons, and then dropped rapidly in the following year. In value terms, cashew nut imports fell notably to $X in 2021. Overall, imports, however, saw a noticeable increase. The most prominent rate of growth was recorded in 2020 with an increase of 246% against the previous year. As a result, imports reached the peak of $X, and then reduced sharply in the following year. Imports by Country Tanzania (X tons) and Cameroon (X tons) represented roughly 56% of total imports in 2021. Algeria (X tons) took a 12% share (based on physical terms) of total imports, which put it in second place, followed by Niger (9.1%), South Africa (6.8%) and Morocco (5.2%). Gambia (X tons) held a minor share of total imports. From 2012 to 2021, the biggest increases were in Tanzania (with a CAGR of +89.9%), while purchases for the other leaders experienced more modest paces of growth. In value terms, Cameroon ($X), Tanzania ($X) and Algeria ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 52% share of total imports.
Among the main importing countries, Tanzania, with a CAGR of +79.3%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth. Import Prices by Country The import price in Africa stood at $X per ton in 2021, growing by 36% against the previous year. In general, the import price, however, continues to indicate a deep setback.
The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure. There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was South Africa ($X per ton), while Tanzania ($X per ton) was amongst the lowest. From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Algeria (+8.2%), while the other leaders experienced more modest paces of growth.
