With production standing at 17.39 thousand metric tons in 2023, Malaysia's cashew nut industry has shown moderate growth with varied annual changes. From 2013 to 2023, the industry experienced a CAGR of approximately 1.06%, with notable fluctuations such as a significant drop of 4% in 2020, followed by a robust rebound of 6.37% in 2021. Projected to reach 18.28 thousand metric tons by 2028, the forecasted CAGR is approximately 0.79%, indicating a decelerating growth rate.
Future trends to watch for:
- Climate change impacts on yield and production.
- Shifts in global market demand and trade policies.
- Technological advancements in agricultural practices.
- Emerging competition from other nut-producing regions.
