The production of cashew nuts in Indonesia has shown variability over the past decade. In 2023, the production stood at 142.9 thousand metric tons. Over the last two years, the year-on-year variations were 0.86% in 2022 and 0.83% in 2023. This shows a slight but positive upward trend. Evaluating the last five years' Compound Annual Growth Rate (CAGR), there is a slight decline at -0.65%, indicating some inconsistencies in production.
The forecast for the next five years presents a steadier increase with a 0.67% CAGR, projecting the production to reach 149.06 thousand metric tons by 2028. This shows an overall forecasted growth rate of 3.38% over the next five years.
Future trends to watch for include:
- Potential impact of climate change on agricultural yields.
- Technological advancements in farming methods enhancing yield per hectare.
- Market demand fluctuations both domestically and internationally.
