Vietnam is supplying a huge amount of one type of nut to the US and China, earning 2.28 billion USD

Published 2022년 10월 25일

Tridge summary

Vietnam has seen a decline in cashew exports in September 2022, with a decrease in both volume and value compared to the same period in 2021. Despite this, the first nine months of 2022 brought in a cashew nut export turnover of $2.28 billion. The US and China are the largest markets for Vietnam's cashew nuts. However, the ongoing armed conflict between Russia and Ukraine and the economic recession of major economies, coupled with high inflation, are expected to pose a threat to Vietnam's cashew exports. Despite these challenges, the demand for cashew imports from the EU and China continues to increase, and the Vietnamese cashew industry is encouraged to leverage new-generation Free Trade Agreements to boost exports to these markets.

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

Original content

Vietnam is supplying a large amount of cashew nuts to the US - China, contributing to bringing the cashew nut export turnover in the first nine months of 2022 to US$2.28 billion. Vietnam is supplying a large amount of cashew nuts to the US - China, contributing to bringing the cashew nut export turnover in the first nine months of 2022 to US$2.28 billion. Photo: T.L According to statistics from the General Department of Customs, in September 2022, Vietnam's cashew exports reached 38,320 tons, worth $234.36 million, compared with September 2021, down 25.5% in volume and 31 percent lower than in September 2021. 4% in value, the US and China are the markets that buy the most cashew nuts from Vietnam. In the first nine months of 2022, Vietnam's cashew exports reached 380,530 tons, worth 2.28 billion USD, down 11.1% in volume and 14.4% in value over the same period in 2021. In the first nine months of 2022, the average export price of Vietnam's cashew nuts reached $5,990/ton, down 3.7% ...

Source: Vinacas