Vietnam: Take advantage of opportunities, increase cashew market share in the UK

Published 2024년 7월 26일

Tridge summary

The UK has significantly increased its imports of Vietnamese cashew nuts, benefiting from the Vietnam-UK Free Trade Agreement (UKVFTA) which has eliminated tariffs on these imports. In May 2024, Vietnam exported 67.71 thousand tons of cashew nuts worth $370.34 million to the UK, marking substantial growth. Despite competition from countries like Ivory Coast and India, Vietnam's market share in the UK is expanding. Vietnamese exporters are advised to understand UK policies, import regulations, and consumption trends, particularly the rules of origin under the UKVFTA, which require cashews to originate purely in Vietnam. The Ministry of Industry and Trade's 'Handbook for exporting cashew nuts to the UK market' offers further guidance on these aspects.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Source: moit.gov.vn The UK market increases purchases of Vietnamese cashew nuts. Like other Western European countries, the UK does not cultivate cashew nuts, so all products are for processing and domestic consumption. re-exports are all imported goods. Meanwhile, Vietnam is the world's leading producer, processor and supplier of cashew kernels. Cashew output and productivity have grown positively in recent times. The Import-Export Department (Ministry of Industry and Trade) cited data from the General Department of Customs as saying that in May 2024, Vietnam exported cashew nuts reaching 67.71 thousand tons, worth 370.34 million USD, an increase of 1.0 % in volume and up 3.3% in value compared to April 2024, up 18.1% in volume and up 9.0% in value compared to May 2023. In the first 5 months of 2024, Vietnam exported cashew nuts reaching 285.1 thousand tons, worth 1.53 billion USD, up 29.5% in volume and 18.5% in value over the same period last year. last. In May 2024, Vietnam's ...
Source: AgroInfo.vn

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