Vietnam: Promote cashew nut exports to Europe

Published 2022년 5월 13일

Tridge summary

Vietnam achieved success in cashew exports in 2021 with a growth of 12.6% in volume and 13.3% in value, reaching 579,800 tons worth 3.64 billion USD. The country aims to further increase the export turnover to 3.8 billion USD in 2022. Europe is the second largest market for Vietnam's cashew exports, accounting for 23% of the total volume and 22% of the total value. The significant growth in cashew nut exports to the EU is largely due to the Free Trade Agreement (EVFTA) with the EU, which imposed a 0% tariff on cashew products from Vietnam effective from August 2020. In 2021, exports to the EU reached 135 thousand tons, valued at 816 million USD. To further support businesses in exporting cashew nuts to Eastern and Western Europe, the Trade Promotion Department held a consultation session on May 13, 2022.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Europe is Vietnam's second largest cashew export market According to the Trade Promotion Department (Ministry of Industry and Trade), 2021 is considered a successful year for Vietnam's cashew exports with an export volume of 579,800 tons, worth 3.64 billion USD, up 12. 6% in volume and 13.3% in value compared to 2020. The goal of cashew nut export turnover in 2022 is USD 3.8 billion, an increase of USD 200 million compared to 2021. Europe (EU) is currently Vietnam's second largest cashew nut export market (after the US), the export proportion accounts for 23% of the total volume and 22% of the total value of the industry. According to estimates, Vietnam's cashew nut exports in 2021 to this market will reach 135 thousand tons, worth 816 million USD, up 16.5% in volume and 7.9% in value compared to 2020. The growth of cashew nut exports to the EU contributed significantly to the overall growth of the industry. The tax rate for cashew products imported into the EU from Vietnam will ...
Source: Vinacas

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