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Leila Ramsay
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Peru Emerges as Third-Largest Exporter of Brazil Nuts in 2023
Peru is now the third-largest exporter of Brazil nuts, generating $30 million in shipments or 12.4% of the global market, despite a 17.8% drop in demand. Bolivia leads with 47.5% of shipments, followed by Germany at 14.8%. The global market value for Brazil nuts has decreased by 28.8% in 2023 due to changing consumption trends and excess stock.
Peru has established itself as the third-largest exporter of Brazil nuts, commonly referred to as Amazon nuts, achieving this status in the past year according to the Global Economy and Business Research Center of the Exporters Association (CIEN-ADEX). Total shipments from Peru reached $30 million in 2023, which is equivalent to 12.4% of the global market share, despite experiencing a significant decline in demand by 17.8%. In comparison, Bolivia maintained the top rank with a substantial 47.5% of the market share, equaling $115.4 million, while Germany, which primarily functions as a re-exporter, secured second place at $36 million, or 14.8%. Meanwhile, the overall Brazil nut market has contracted by 28.8%, reflecting a total valuation of $229 million in 2023.
The global landscape of Brazil nut exports has witnessed considerable shifts, with Peru making significant advancements as a key player in this sector. The data from CIEN-ADEX reveals the competitive nature of the market, where Bolivia dominates the export market, while Germany serves as a significant re-export hub. The decline in shipments, averaging 3.2% between 2019 and 2023, can be attributed to factors such as surplus stock in major consuming countries and evolving consumption patterns, leading to declining prices and demand.
In conclusion, Peru’s emergence as the third-largest exporter of Brazil nuts highlights shifting dynamics in the global market, particularly amid a backdrop of declining demand and consumption trends. The substantial share held by Bolivia further underscores the competitive landscape, while Germany’s role as a principal importer reflects the complexity of international trade patterns. Overall, these developments are indicative of the ongoing challenges and transformations within the industry.
Original Source: www.freshfruitportal.com
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