Cashew nut exports to the German market will be positive in 2022

Published Dec 7, 2021

Tridge summary

Vietnam remains the leading supplier of cashew nuts to the German market, despite a decrease in imports due to COVID-19. The industry is expected to benefit from the EU-Vietnam Free Trade Agreement in 2022. In the first nine months of 2021, Germany imported 45,200 tons of cashew nuts, valued at $324.43 million, a decrease from the previous year. The demand for cashew nuts in Germany is expected to grow by an average of 4.1% from 2020 to 2025, driven by the food processing industry and consumer demand. The German market is the largest in the EU for cashew nut imports.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The Import-Export Department (Ministry of Industry and Trade) said that Vietnam is still the number one source of cashew nuts in the German market thanks to its stable supply and guaranteed quality. The prospect of Vietnam's cashew nut exports to the German market will be positive in 2022 thanks to the advantage of the EU-Vietnam Free Trade Agreement (EVFTA). In addition, the increased demand for German cashew imports will have a positive impact on Vietnam's cashew industry. Citing statistics from the International Trade Center (ITC), said that due to difficulties in transportation, in the first nine months of 2021, Germany imported 45,200 tons of cashew nuts from markets around the world, worth 324. 43 million USD, down 9.5% in volume and 14.1% in value over the same period in 2020. In 9 months, the average import price of German cashew nuts reached USD 7,177/ton, down 5.1% over the same period in 2020; in which, the average import price of German cashew nuts decreased from the ...

Source: Vinacas