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Import and export cashew nut export epidemic
Cashew exports face many challenges
Cashew exports face many challengesData from the General Administration of Customs shows that the export volume and price of Vietnam’s cashew nuts in July 2022 decreased by 2% and 7% respectively compared with June 2022; compared with July 2021, the export volume and price decreased by 15% and 21% respectivel.
. In the first seven months of 2022, the export volume of cashew nuts reached 294,000 tons, and the export value reached 76 billion US dollars; compared with the same period in 2021, the export volume and price decreased by 15% and 11% respectivel.
. In the first seven months of 2022, the export volume of cashew nuts reached 294,000 tons, and the export value reached 76 billion US dollars; compared with the same period in 2021, the export volume and price decreased by 15% and 11% respectivel.
The impact of the Covid-19 pandemic has led to higher freight rates, and as a result, many orders placed in 2021 cannot be delivered and will have to be backlogged into 2022.
It is worth noting that although the average export price reached about 792 US dollars / ton, a year-on-year increase of 45.
However, the price of raw cashews imported from Africa has risen by 15-20% compared to the same period last year since the beginning of the cro.
Although export prices have risen, they have not caught up with the growth rate of raw material import prices, causing importers and processors to purchase raw materials slowl.
However, the price of raw cashews imported from Africa has risen by 15-20% compared to the same period last year since the beginning of the cro.
Although export prices have risen, they have not caught up with the growth rate of raw material import prices, causing importers and processors to purchase raw materials slowl.
According to the latest news from the General Administration of Customs, from the beginning of the year to July 15, the national import volume of raw cashew nuts reached nearly 26 million tons, with an import value of nearly 84 billion US dollar.
Compared with the same period last year, the import volume decreased by more than 670,000 tons, equivalent to a decrease of 382%; the import value decreased by 37%, equivalent to 077 billion US dollar.
Compared with the same period last year, the import volume decreased by more than 670,000 tons, equivalent to a decrease of 382%; the import value decreased by 37%, equivalent to 077 billion US dollar.
High inflation in many of the world's major economies has led people to tighten spending, especially on high-priced good.
It is expected that Vietnam's cashew exports will still face difficulties in the final months of 2022.
It is expected that Vietnam's cashew exports will still face difficulties in the final months of 2022.
The Bureau of Import and Export commented that apart from unfavorable factors, the global cashew nut market is expected to grow by an average of 6% during the period 2022-2027. Global trends are shifting towards vegetarian and plant-based diets, prioritizing protein alternatives, leading to increased demand for nuts and nut-based food.
Enhance product value and increase market share
Enhance product value and increase market shareIn South America, cashew sales in consumer diets have remained stabl.
In Asia, cashews are considered the main ingredient in a variety of sweet or savory dishe.
China leads the rest of the region in importing cashew nut.
China leads the rest of the region in importing cashew nut.
In Europe, sales of cashew nuts are increasing based on increasing consumer health awarenes.
More recently, cashews have also become part of more dishes and snack ingredient.
France is the EU's third largest import market for cashew nut.
Despite benefiting from the EVFTA in terms of taxation, the Vietnamese cashew industry has not yet exploited this market wel.
More recently, cashews have also become part of more dishes and snack ingredient.
France is the EU's third largest import market for cashew nut.
Despite benefiting from the EVFTA in terms of taxation, the Vietnamese cashew industry has not yet exploited this market wel.
The commercial counselor of the Vietnamese embassy in France said that the competitiveness of Vietnamese cashews in this market is still not hig.
French supermarkets and hypermarkets do not sell Vietnamese-branded cashew product.
Most businesses only focus on wholesale and do not focus on brand developmen.
French supermarkets and hypermarkets do not sell Vietnamese-branded cashew product.
Most businesses only focus on wholesale and do not focus on brand developmen.
In order to increase the value of the product and increase the market share of Vietnamese cashews in France, the Vietnam-EU Free Trade Agreement is a good tool, but in addition to the rules of origin for enjoying preferential tariffs, it is crucial to meet the French and even EU regulations o.
Before introducing goods to the French market, companies should seek legal assistance to update the latest information, write contracts and during the transaction process to avoid risk.
Before introducing goods to the French market, companies should seek legal assistance to update the latest information, write contracts and during the transaction process to avoid risk.
Pham Vangong, chairman of the Vietnam Cashew Nut Association, emphasized that in addition to focusing on the quality of raw materials and export cashew nuts, the cashew industry should push to enter some key markets, especially markets that have signed free trade agreements with Vietnam, and make full use of import tax incentive.
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