Vietnamese cashew nut exports are increasing in many key markets

Published 2021년 9월 3일

Tridge summary

Vietnam has experienced a significant increase in cashew nut exports from January to August 15, 2021, with a 21.5% rise in volume and a 15.6% increase in value compared to the same period in 2020. The average export price of cashew nuts decreased by 6.1% during the same period. The demand for cashew nuts is expected to rise in Europe and the United States due to cyclical factors. However, the industry may face challenges due to high freight rates and the shortage of empty containers. To compete with products from India and Brazil, the Vietnam cashew industry is urged to explore markets in Asia and expand transport options. Meanwhile, processing enterprises are investing in technology to improve the value chain and deep processing of cashew nuts.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Since the beginning of the year, Vietnam's cashew nut exports to most of the main markets have increased sharply. It is forecasted that Vietnam's cashew exports will be favorable in the near future due to the increased demand for cashew nuts in Europe and the United States due to cyclical factors. According to statistics from the General Department of Customs, accumulated from the beginning of the year to the end of August 15, 2021, Vietnam's cashew exports reached 348.7 thousand tons, worth 2.14 billion USD, an increase of 21. 5% in volume and 15.6% in value over the same period in 2020. The average export price of Vietnam's cashew nuts reached 6,095 USD/ton, down 6.1% over the same period in 2020. Vietnam's cashew exports to most of the main markets increased. Notably, cashew nut exports to the markets of Russia, Japan, France... increased sharply. According to the Vietnam Trade Office in the UAE (concurrently Qatar), in the first seven months of 2021, Vietnam's cashew exports ...

Source: Vinacas