In March 2022, Vietnam witnessed a significant surge in cashew nut exports, reaching approximately 40,000 tons with a value of $239 million, marking a 57.8% increase in volume and 58.6% increase in value compared to February 2022. Despite this growth, exports experienced a decline of 10.4% in volume and 7.9% in value compared to March 2021. The first quarter of 2022 saw a total export volume of 104.9 thousand tons valued at $624.67 million, marking a 6.5% decrease in volume and a 4.9% decrease in value compared to the same period in 2021. The average export price of cashew nuts in March 2022 was $5,981/ton, showing a slight increase of 0.5% compared to February 2022 and a significant increase of 2.8% compared to March 2021.
The top 10 export markets for cashew nuts in the first quarter of 2022 experienced both increases and decreases in volume and value. Notably, exports to the United States, Germany, Australia, UK, Italy, and Saudi Arabia grew positively, while exports to the Netherlands, China, Canada, and the United Arab Emirates saw a decrease. The decrease in exports to these countries is attributed to their stockpiles of cashew nuts from the previous year and adjustments in import quotas. The Vietnam Cashew Association predicts that cashew exports will increase in the second quarter of 2022 and expects the 2022 export turnover to be on par with or slightly below 2021, despite the decrease in the first quarter.