Peru ranks as the third-largest exporter of Brazil nuts, with $30 million in exports and a 12.4% market share in 2023. Despite a 17.8% decline in demand and a contracting global market, Bolivia and Germany lead in exports. The total Brazil nut market value decreased by 28.8% this year.
Peru has recently emerged as the third-largest exporter of Brazil nuts globally, as reported by the Global Economy and Business Research Center of the Exporters Association (CIEN-ADEX). In 2023, Peru’s exports reached approximately $30 million, capturing 12.4% of the worldwide market share. This is despite a significant 17.8% decrease in demand. Bolivia leads the market with a substantial 47.5% share at $115.4 million, while Germany follows as a re-exporter, accounting for 14.8% with $36 million in shipments.
The CIEN-ADEX report highlights a troubling trend, indicating that the overall global Brazil nut market contracted by 28.8% this past year, amounting to an aggregate value of $229 million. Germany, maintaining its status as the largest importer, constituted 17.2% of total imports with a value of $39.5 million. The United States and the United Kingdom ranked second and third, with imports of $37.7 million and $21.5 million, respectively.
An analysis of the market from 2019 to 2023 reveals an average shipment decline of 3.2%. This reduction can be attributed to various factors, including excess stocks in key markets and shifting consumer preferences, which have adversely affected demand and led to a drop in market prices.
Brazil nuts, known for their rich nutritional value and unique flavor, are a significant product in international trade. Peru has historically been a strong player in the Brazil nut market, but recent market fluctuations have impacted overall exports. The increase in exports during the past year, despite declining demand, exemplifies the complexities of global trade dynamics and emerging consumer trends regarding nut consumption. Understanding market shares and import-export relationships is crucial for stakeholders in the industry.
In conclusion, Peru’s positioning as the third-largest exporter of Brazil nuts demonstrates resilience amidst a contracting global market. The notable decrease in demand highlights significant challenges within the industry, as evidenced by a 28.8% reduction in market value. As Peru navigates these fluctuations, continued analysis and strategic adjustments will be essential for maintaining and potentially enhancing its global standing in Brazil nut exports.
Original Source: www.freshfruitportal.com
