India Cashew Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

India Cashew Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The consumption of cashew in India is 1.6 million metric ton, which is projected to register a CAGR of 4.0 % during the forecast period (2021-2026).

Globally, India witnesses the largest consumption of cashew. However, due to COVID-19, the price of cashew fell to the lowest it has been in the last 10-12 years. The value addition activities were affected negatively as a disrupted distribution channel tends to lower the value of end-products of cashew nuts in the market. The extended lockdown has hit consumption in India as well as demand. The Cashew Export Promotion Council of India (CEPCI) has urged the Union Government to allocate sufficient funds and put forward a few schemes to increase the production of cashews in the country; this initiative is expected to drive the cashew market. The production of in-shell raw cashew in India was 743,000 metric ton in 2019. India is the major cashew growing country in the Asia-Pacific, positioned as the largest producer of raw cashew nut (RCN) globally, with 550,000 metric ton of cashew production per annum. In India, cashew is grown in the peninsular areas of Kerala, Karnataka, Goa and Maharashtra, Tamil Nadu, Andhra Pradesh, Orissa, and West Bengal. Among these, Kerala is the largest producing state.

Key Market TrendsIncreasing Exports of Shelled Cashew

India has been the top exporter in the global shelled cashew trade, accounting for more than 15% of the global cashew export in the last 4 years. Indian cashew exports cater to the United States, United Arab Emirates, Japan, the Netherlands, Spain, France, Germany, Saudi Arabia, and others. With the increasing demand for cashew globally, exports are increasing from India. The Cashew Export Promotion Council of India (CEPCI) has urged the Union government to allocate sufficient funds and put forward a few schemes to increase the production of cashews. This factor is helping to enhance the production capacity of cashew in India. As the cashew market in India is export-oriented, there is an immense opportunity for growth of the market.

Increase in Production Capacities

In India, cashew is cultivated on a total of 1.02 million hectare of land, with a productivity of 706 kg/ha as of 2018. The major cashew growing Indian states are Maharashtra, Andhra Pradesh, Orissa, Kerala, and Karnataka. The approximate raw cashew nut requirement of the country by 2050 is estimated to be at 4-5 million metric ton or more. In order to keep up with the rise in the domestic and overseas demand for cashew (the country is the largest cashew consumer worldwide, and second-largest exporter of cashew kernels), Indian companies have recently invested in the purchase of large plantations and financing and management of processing facilities in Africa.

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Companies Mentioned

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LightEdge Solutions, Inc

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