Cashew nut exports of Vietnam to the EU are increasing thanks to EVFTA

Cashew Nut Kernel

Vietnam

Published May 17, 2022

Tridge summary

Speaking at the "Consulting session on exporting cashew products to Eastern and Western European markets" on the afternoon of May 13, Ms. Nguyen Thi Thu Thuy, Deputy Director of the Export Support Center (Department of Trade Promotion). According to the 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, up 12.6% in volume. and increased 13.3% in value compared to 2020. The goal for 2022 is that cashew nut export turnover will reach 3.8 billion USD, an increase of 200 million USD compared to 2021. The EU is currently the second-largest cashew nut export market. 2 of Vietnam, the proportion of exports accounted for 23% of the total volume and 22% of the total value of the industry. According to estimates, Vietnam's cashew exports in 2021 to the EU 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. Tax rates for products processed from cashew nuts imported into the EU from Vietnam will be reduced to 0% immediately after the EU-Vietnam Free Trade Agreement (EVFTA) takes effect from August 1, 2020.

Original content

Speaking at the "Consulting session on exporting cashew products to Eastern and Western European markets" on the afternoon of May 13, Ms. Nguyen Thi Thu Thuy, Deputy Director of the Export Support Center (Department of Trade Promotion). According to the 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, up 12.6% in volume. and increased by 13.3% in value compared to 2020. The goal of 2022 is that cashew nut export turnover will reach 3.8 billion USD, an increase of 200 million USD compared to 2021. The EU is currently Vietnam's second largest cashew nut export market, accounting for 23% of the total volume and 22% of the total value of the industry. According to estimates, Vietnam's cashew exports in 2021 to the EU 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 ...

Source: Vinanet