The tension between Russia and Ukraine does not affect Vietnam's cashew exports much

Published 2022년 3월 15일

Tridge summary

In February, Vietnam's cashew exports experienced a decline from January but showed an increase over the same period in 2021. The total exports for the first two months of the year remained stable. The export price was also steady. There was a rise in exports to certain countries, while exports to others decreased. The Import-Export Department predicts a continued low level of exports in the short term due to normal European import patterns. Despite geopolitical tensions with Ukraine, the cashew exports to Russia are not significantly impacted, as Russia's cashew market is largely dominated by Vietnam. This dominance is expected to persist due to supply, quality, and the Free Trade Agreement between Vietnam and the Eurasian Economic Union.

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

Original content

According to the Import and Export Department (Ministry of Industry and Trade), in February, Vietnam's cashew exports reached 25,000 tons, equivalent to 151 million USD, down 37% in volume and value compared to January, but up 15% in value. volume and increase 18% in value over the same period in 2021. In general, in the first two months of the year, Vietnam's cashew exports reached 65.5 thousand tons, worth 389 million USD, unchanged compared to the same period in 2021. The export price of cashew was stable over the same period, reaching the level. $5,943/ton. Regarding the market, Vietnam's cashew exports to the US, Germany, Italy ... increased, while exports to the Netherlands, China, Australia, Canada, and Russia decreased. The Import-Export Department forecasts that in the short term, Vietnam's cashew exports will remain at a low level because according to the cyclical factor, the first quarter is the time when Europe usually imports cashews at a low level. In addition, the ...

Source: Vietnambiz