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

Published 2022년 5월 16일

Tridge summary

Vietnam achieved success in cashew exports in 2021 with a volume of 579,800 tons and a value of $3.64 billion, marking increases of 12.6% in volume and 13.3% in value from the previous year. The country aims to reach a cashew nut export turnover of $3.8 billion in 2022, with the EU being the second largest market, accounting for 23% of the total volume and 22% of the total value. The EVFTA agreement has led to a 0% tax rate on cashew nut processing products imported into the EU from Vietnam, contributing to the growth of the industry. Long An province, with nearly 50 cashew nut export enterprises, is playing a significant role in these exports. The Vietnam Cashew Association suggests increasing Vietnam's cashew market share in European countries to 60-80% and seeks government support for FTAs and trade facilitation.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

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

Would you like more in-depth insights?

Gain access to detailed market analysis tailored to your business needs.
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.