Peru Emerges as a Key Player in Global Brazil Nut Exports

Peru has become the third-largest exporter of Brazil nuts, with exports totaling $30 million in 2023 or 12.4% of global shipments. Despite a 17.8% drop in demand, Bolivia leads the market with a 47.5% share. The global market for Brazil nuts fell by 28.8%, with Germany as the largest importer.

Peru has recently established itself as the third-largest exporter of Brazil nuts, also known as Amazon nuts, following Bolivia and Germany. According to the Global Economy and Business Research Center of the Exporters Association (CIEN-ADEX), Peru’s exports amounted to $30 million in 2023, representing 12.4% of global shipments despite a significant decline in demand of 17.8%. In comparison, Bolivia dominated the market with a remarkable 47.5% share, totaling $115.4 million, while Germany, primarily re-exporting Brazil nuts, ranked second with $36 million or 14.8% of total exports.

The CIEN-ADEX report further highlights a contraction of the global Brazil nut market, which decreased by approximately 28.8% in 2023, valued at $229 million. Germany emerged as the leading importer, contributing 17.2% of all imports valued at $39.5 million, with the United States and the United Kingdom following. The period between 2019 and 2023 has witnessed an average decline of 3.2% in shipments due to excess stock in key regions and evolving consumption patterns, which have adversely affected prices and demand.

Brazil nuts, primarily sourced from the Amazon rainforest, play a critical role in the economies of countries like Peru, Bolivia, and Brazil. As a major source of nutrition and economic activity, the global demand for these nuts has fluctuated in recent years. Factors influencing this demand include market trends, consumer preferences, and environmental changes affecting production levels.

In summary, Peru has secured its position as a leading exporter of Brazil nuts, even amidst declining global demand and a contracting market. With Peru’s exports at $30 million, it faces stiff competition from Bolivia and Germany. The ongoing market challenges, including changing consumption habits and excess inventory, suggest a need for strategic adjustments within the Brazil nut supply chain to sustain future growth.

Original Source: www.freshfruitportal.com