Market Report for Brazilian Cashew Nuts
Production in Brazil
The Brazilian institute of Geography and statistics released an estimate concerning the harvest calculated in May 2020, in the production of cashew nuts in the country is at 151.1 thousand tonnes, this is an increase of 8.5% compared to the previous year. This increase was seen despite the 9.1% reduction in the acres intended for harvesting. The reduction occurred in the three main producing states in the same period, national production has been increasing at an average annual rate of 7.8% annually between 2015 and 2019, reflecting a productivity increase of 16.9% annually in that period.
The main producing state is Cearà, with an estimated production of 995.400 tons, an increase of 8.8% compared to the previous year. Production in this state has been increasing significantly at an average rate of 13.9% per year between 2015 and 2019. This state accounted for 62.9% of national production in 2019.
Between January and May 2020, exports of shelled cashew nuts were 7.400 tons, an increase of 11.0% compared to the same period last year. In terms of dollar value, this means $45.4 million, a 13.1% decrease compared to the same period a year earlier, at an average price of US $6.16/KG FOB. The three main destinations of these exports, between January and May, were the united states (34.1% of volume and 37.9% of value), Germany (14.1% of volume ad 12.8% of value) and Canada (9.3% volume and 8.7% of value). These countries accounted for 57.5% of the total volume of production and 59.4% of the total value exported in the period.
In May of 2020, exports of shelled cashew nuts were 1.100 tons, a decrease of 12.6% compared to the same month a year earlier. In terms of value, it means US $6.7 Million, a reduction of 0.3% compared to the same month of the previous year, at an average price of US $6.20/KG FOB.