In 2023, Peru became the third largest exporter of Brazil nuts, with exports valued at $30 million, representing 12.4% of the global market. Bolivia and Germany took the first and second positions, with 47.5% and 14.8% shares, respectively. The overall Brazil nut market decreased by 28.8% in value, influenced by changing consumption patterns and excess inventory.
Peru has emerged as the third-largest exporter of Brazil nuts, known scientifically as Bertholletia excelsa, as reported by the Global Economy and Business Research Center of the Exporters Association (CIEN-ADEX). In 2023, Peruvian exports reached a total value of $30 million, which accounts for 12.4% of the global market share. This achievement occurred despite a 17.8% decline in demand. Bolivia retains the top position with a substantial 47.5% share of exports valued at $115.4 million, followed by Germany, which, serving as a re-exporting hub, controls 14.8% of the market with $36 million in exports.
The CIEN-ADEX report also highlighted a significant contraction in the global Brazil nut market, which saw a 28.8% decrease in total value to $229 million in 2023. Additionally, Germany maintains its leading status as the foremost importer of Brazil nuts, representing 17.2% of the total imports at a value of $39.5 million. The United States and the United Kingdom follow, importing $37.7 million and $21.5 million, respectively. Over the past four years, from 2019 to 2023, Brazil nut shipments have faced a consistent decline averaging 3.2% annually, attributed to high stocks in major markets and shifting consumer preferences that have led to diminished demand and declining prices.
Brazil nuts are native to the Amazon rainforest and are cultivated primarily in Brazil, Bolivia, and Peru. They play a significant role in the economies of these countries, providing income and employment opportunities for local communities. As global markets for nuts evolve, exporters face challenges including fluctuating demand, price volatility, and competition from other nut varieties. Understanding the dynamics of this market is crucial for stakeholders involved in Brazil nut production and trade.
In conclusion, the status of Peru as the third-largest exporter of Brazil nuts highlights its growing significance in the global marketplace, despite the current challenges posed by decreasing demand and market contractions. With Bolivia and Germany leading the exports, it is essential for Peruvian producers to adapt to changing market dynamics and consumer trends to sustain and grow their market share. The ongoing fluctuations in global demand for Brazil nuts indicate a need for strategic adjustments within the export industry.
Original Source: www.freshfruitportal.com
