Vietnam Cashew: Exports to both US and Europe are Down
Raw Cashew Nut
United States
Vietnam
Market & Price Trends
Alex Zeid
Published Jul 19, 2022
The total exports to the US dropped from 20.360 Mt in June 2021 to just over 10,500 Mt for June 2022. At the mid-point of this year exports to the US are now at 66,340 Mt compared to 75,000 Mt last year. In Europe, the drop was less drastic, but overall exports are down close to 6%, most of this can be attributed to June exports.
Previous year in June 2021 was the highest shipment month on record to the US and one of the highest to Europe as well. Most of this volume would be importers playing catch up, or trying to get ahead of the supply chain issues. In June 2022, the exports to the US are probably the lowest we have seen since the pandemic started. If this is this a reflection of huge inventory buildup in the US from last year that needs to be worked through, or a sign that consumers spending less in the cashew nuts, we need a few more months to see the trend.
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