Vietnam: The purchasing power of the main market decreased, causing cashew exports to decline slightly in the first quarter

Published Apr 12, 2022

Tridge summary

Vietnam's cashew export industry experienced a decline in the first quarter of 2022, with a decrease of 6.7% in volume and 5% in value compared to the same period in 2021. The industry exported 105,000 tons of cashews, generating 630 million USD. This decline was due to a drop in traditional markets such as the Netherlands, Canada, China, Italy, and Russia, despite an increase in imports of W320 cashews in the US, Germany, UK, and France. A significant issue arose when many containers of cashew nuts exported to Italy had missing import-export documents, affecting the total volume and value of exports. However, most undocumented containers have been retrieved and delivered to customers.

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Original content

Processing raw cashew nuts in Binh Tan commune, Phu Rieng district (Binh Phuoc). (Photo: K CAI H/VNA), After a period of response to the COVID-19 epidemic, Vietnam's cashew import markets have fluctuated, resulting in cashew exports being affected, especially key markets. According to statistics of the General Department of Customs, in March, Vietnam's cashew processing and exporting industry exported 40,000 tons, reaching a turnover of 241 million USD, down more than 11% in volume, 9% in value over the same period. year 2021., For the whole first quarter, Vietnam's cashew nut exports reached 105,000 tons, earning 630 million USD, down 6.7% in volume, down 5% in value over the same period in 2021. Explaining the slight decrease in cashew exports in the first quarter of 2021, a representative of the Vietnam Cashew Association said that although the US, Germany, UK and France markets increased imports of Vietnam's W320 cashews, many markets The traditional main market of Vietnam's ...

Source: VNRuralEconomics