Vietnam: Coffee and cashew nut exports to EU increased sharply, thanks to EVFTA

According to the General Department of Customs, in the first 11 months of 2021, the total export turnover of Vietnam's main agricultural products (including coffee, cashew nuts, rubber, vegetables, pepper, rice and tea) to the market. EU reached about 2.2 billion USD and increased by 10% over the same period in 2020, accounting for nearly 14% of total export turnover of main agricultural products. Notably, coffee and cashew nuts account for a large proportion of the total export turnover of main agricultural products to the EU, at 42% and 33% respectively. Exports of these two products to the EU have seen positive growth thanks to high consumption demand and preferential tariffs from EVFTA. Specifically, coffee exported to the EU will have 93% of the tax line going to 0% as soon as the EVFTA comes into effect. This is a good opportunity for Vietnamese coffee when the EU is the largest coffee consuming market in the world, with import turnover from foreign countries about 10 ...