Nuts

Brazil nuts: Bolivia's production is increasing

April 9, 2024 at 11:18 AM , Der AUDITOR
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SUCRE/REUS. The Brazil nut season has got off to a much brisker start than last year. Bolivia remains the most important producer, while Brazil has suffered losses.

Brazil nuts as an alternative

As reported by the International Nut and Dried Fruit Council (INC), the Brazil nut season 2022/23 ended with very low carry-over stocks. Bolivia's remaining stocks were completely bought up by Brazil when the country was no longer able to meet domestic demand around Christmas time. Brazil had previously exported very large quantities itself when prices were more favourable. In addition, a shortage of cashew nuts on the Brazilian market meant that many buyers were looking for Brazil nuts as an alternative.

Bolivia by far the most important producer

According to the INC, the 2023/24 season got off to a much livelier start compared to the slow start to the last season. The low remaining supplies met with a high level of buying interest, and most forwarders were fully booked into May. In mid-February, many buyers tried to stock up on raw nuts in order to fulfil their contracts. However, supply was still limited and commodity prices were rising, partly because factories were eager to start cracking and shelling nuts. As the INC adds, purchases have been going well so far. Bolivia remains by far the most important producer this season, with the INC's crop estimates standing at 66,000 mt, an increase of 15.8% compared to the previous year. It is followed by Peru with 16,500 mt and Brazil with 7,500 mt, a decline of 16.7% compared to last year.

Global Brazil nut production, in-shell, in mt

Country

2022/23

2023/24

Diff.

Bolivia

57,000

66,000

15.8%

Peru

15,000

16,500

10.0%

Brazil

9,000

7,500

-16.7%

Total

81,000

90,000

11.1%

INC, March 2024

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