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Vietnam's cashew export is expected to achieve significant growth
.
Asia increases imports of cashew nuts from Vietnam
The Import and Export Bureau of the Ministry of Industry and Trade of Vietnam quoted statistics from the General Administration of Customs to show that in July 2021, the export volume of Vietnamese cashew nuts is expected to reach 50,000 tons, a decrease of 14.
9% from the previous month, and the export value reached 324 million US dollars, a decrease of 12.
3% from the previous month
.
Compared with July 2020, the export volume increased by 19.
6% and the export value increased by 33.
5%
.
In the first seven months of 2021, Vietnam's cashew nut export volume is expected to be 324,000 tons, with an export value of US$1.
97 billion.
Compared with the first seven months of 2020, the export volume has increased by 21.
4% and the export value has increased by 14%
.
9% from the previous month, and the export value reached 324 million US dollars, a decrease of 12.
3% from the previous month
.
Compared with July 2020, the export volume increased by 19.
6% and the export value increased by 33.
5%
.
In the first seven months of 2021, Vietnam's cashew nut export volume is expected to be 324,000 tons, with an export value of US$1.
97 billion.
Compared with the first seven months of 2020, the export volume has increased by 21.
4% and the export value has increased by 14%
.
The proportion of Vietnam's cashew nut exports to the Americas and the European Union in the country's total cashew nut exports dropped from 36.
79% and 30.
01% in the second quarter of 2020 to 33.
48% and 27.
96% in the second quarter of 2021, respectively
.
In contrast, the proportion of Vietnam's cashew nut exports to Asia rose from 28.
02% in the second quarter of 2020 to 33.
59% in the second quarter of 2021
.
79% and 30.
01% in the second quarter of 2020 to 33.
48% and 27.
96% in the second quarter of 2021, respectively
.
In contrast, the proportion of Vietnam's cashew nut exports to Asia rose from 28.
02% in the second quarter of 2020 to 33.
59% in the second quarter of 2021
.
In the first five months of 2021, the United States reduced its imports of cashew nuts from the Vietnamese market, with exports amounting to US$346.
1 million, a year-on-year decrease of 17.
7%
.
In the first five months of 2021, the market share of Vietnamese cashew nuts accounted for 87.
64% of the total US imports, lower than 88.
22% in the first five months of 2020
.
1 million, a year-on-year decrease of 17.
7%
.
In the first five months of 2021, the market share of Vietnamese cashew nuts accounted for 87.
64% of the total US imports, lower than 88.
22% in the first five months of 2020
.
In contrast, in the first five months of 2021, France's imports of cashew nuts from Vietnam increased significantly, with imports amounting to 34.
41 million U.
S.
dollars, a year-on-year increase of 36.
2%
.
In the first five months of 2021, the market share of Vietnamese cashew nuts in France's total imports was 64.
99%, which was higher than 55.
41% in the first five months of 2020
.
41 million U.
S.
dollars, a year-on-year increase of 36.
2%
.
In the first five months of 2021, the market share of Vietnamese cashew nuts in France's total imports was 64.
99%, which was higher than 55.
41% in the first five months of 2020
.
In the first five months of 2021, Japan’s imports of cashew nuts from India have dropped sharply, with imports amounting to US$19.
14 million, a decline of 22.
8%
.
In contrast, Japan increased its imports of cashew nuts from Vietnam, with an import value of US$12.
92 million, an increase of 4.
5% year-on-year
.
In the first five months of 2021, the market share of Vietnamese cashew nuts in Japan's total imports was 38.
97%, which was higher than 33.
09% in the first five months of 2020
.
It can be seen that Japanese consumers tend to gradually switch from using Indian cashews to buying Vietnamese cashews
.
14 million, a decline of 22.
8%
.
In contrast, Japan increased its imports of cashew nuts from Vietnam, with an import value of US$12.
92 million, an increase of 4.
5% year-on-year
.
In the first five months of 2021, the market share of Vietnamese cashew nuts in Japan's total imports was 38.
97%, which was higher than 33.
09% in the first five months of 2020
.
It can be seen that Japanese consumers tend to gradually switch from using Indian cashews to buying Vietnamese cashews
.
Cashew nut exports are expected to achieve considerable growth
The United States is a big consumer of cashew nuts
.
From 2020 to 2025, the average annual growth rate of the cashew nut market in North America (mainly the United States) is expected to be 4.
3%
.
Therefore, it is expected that the export potential of Vietnam's cashew nuts to the US needs to be tapped
.
.
From 2020 to 2025, the average annual growth rate of the cashew nut market in North America (mainly the United States) is expected to be 4.
3%
.
Therefore, it is expected that the export potential of Vietnam's cashew nuts to the US needs to be tapped
.
At the same time, French consumers like to use cashew nuts as a common snack
.
Cashews are used as ingredients in nut beverages (such as sugar-free cashew milk) and other innovative products (such as chocolate or snacks)
.
In addition, organic cashew nut retail brands are increasingly appearing in France
.
France is the EU's third largest import market for cashew nuts, with an average annual import rate of 7.
99% from 2015 to 2020
.
The French cashew market is expected to continue to grow in the future
.
.
Cashews are used as ingredients in nut beverages (such as sugar-free cashew milk) and other innovative products (such as chocolate or snacks)
.
In addition, organic cashew nut retail brands are increasingly appearing in France
.
France is the EU's third largest import market for cashew nuts, with an average annual import rate of 7.
99% from 2015 to 2020
.
The French cashew market is expected to continue to grow in the future
.
According to expert analysis, thanks to the increase in import demand in the US and EU markets due to cyclical factors, Vietnam's cashew nut exports in the third quarter of 2021 are expected to achieve considerable growth
.
However, the fourth wave of the new crown pneumonia epidemic will have a negative impact on the production and transportation of cashew nuts in Vietnam due to the tightening of various social distancing measures
.
In the coming months, the shortage of empty containers may continue, and high freight rates are expected to continue until 2022
.
The high freight rates make it difficult for the price of cashew nuts in Vietnam to compete with products from India and Brazil
.
.
However, the fourth wave of the new crown pneumonia epidemic will have a negative impact on the production and transportation of cashew nuts in Vietnam due to the tightening of various social distancing measures
.
In the coming months, the shortage of empty containers may continue, and high freight rates are expected to continue until 2022
.
The high freight rates make it difficult for the price of cashew nuts in Vietnam to compete with products from India and Brazil
.
Against the background that the wave of the new crown pneumonia epidemic is still complicated, the cashew nut industry in Vietnam will still face difficulties in the short term
.
Therefore, the Import and Export Bureau recommends that the cashew nut industry in Vietnam fully exploit China, Japan and other Asian markets and some niche markets in the European Union
.
At the same time, expanding the form of transportation will help enterprises to speed up the development progress
.
The Import and Export Bureau suggested that container trains sent from Vietnam to Belgium mark the opening of another transport route deep into the EU, which will make the flow of goods in Vietnam smoother
.
.
Therefore, the Import and Export Bureau recommends that the cashew nut industry in Vietnam fully exploit China, Japan and other Asian markets and some niche markets in the European Union
.
At the same time, expanding the form of transportation will help enterprises to speed up the development progress
.
The Import and Export Bureau suggested that container trains sent from Vietnam to Belgium mark the opening of another transport route deep into the EU, which will make the flow of goods in Vietnam smoother
.
According to data from the General Administration of Customs, Vietnam’s cashew nut exports reached 160,100 tons in the second quarter of 2021, with an export value of 980.
91 million U.
S.
dollars.
Compared with the first quarter of 2021, the export volume increased by 42.
7% and the export value increased by 49.
3%.
Compared with the second quarter of the year, the export volume increased by 24.
1% and the export value increased by 20.
6%
.
In the first six months of 2021, Vietnam's cashew nut exports amounted to 273,54 million tons, an increase of 21.
8% year-on-year; the export value reached US$1.
65 billion, an increase of 10.
8% year-on-year
.
91 million U.
S.
dollars.
Compared with the first quarter of 2021, the export volume increased by 42.
7% and the export value increased by 49.
3%.
Compared with the second quarter of the year, the export volume increased by 24.
1% and the export value increased by 20.
6%
.
In the first six months of 2021, Vietnam's cashew nut exports amounted to 273,54 million tons, an increase of 21.
8% year-on-year; the export value reached US$1.
65 billion, an increase of 10.
8% year-on-year
.
