Vietnam's cashew exports experienced a successful year in 2021, with a growth of 12.6% in volume and 13.3% in value, reaching 579.8 thousand tons worth 3.64 billion USD. The exports were distributed to various regions, with increases in Africa and Asia, and stable growth in Europe, despite a decrease in the proportion of exports to these regions. The export value to most main markets increased, except for the Netherlands, Australia, and Italy. China and Canada saw increases in their proportion of exports. W180 cashews had the highest export rate increase of 49.6%. Due to the COVID-19 pandemic, there has been a shift in consumption towards healthy foods, aligning with the global market forecast of a 4.6% average growth rate from 2022 to 2026. Vietnam is expected to continue dominating the cashew nut export market.
India also saw a significant increase in its cashew exports, reaching 76 thousand tons, worth 427.36 million USD in the first 11 months of 2021, with a 38.8% increase in volume and a 14.7% increase in value compared to the same period in 2020. India's cashew nut exports to Vietnam increased by 187% in volume and 173.5% in value. Vietnam mainly imports cashew kernels with HS code 080131 from India.