Vietnam is the number 1 cashew supplier to the US and China

Published 2022년 8월 24일

Tridge summary

Despite challenges such as reduced consumption and small orders, Vietnam remains the leading supplier of cashew nuts to the US and China. In the first half of 2022, cashew nut exports were valued at over $1.5 billion, a decrease of 9.2% from the same period in 2021. The US imported over 80,000 tons of cashew nuts, 89.9% of which were from Vietnam, while China's imports from Vietnam reached $125 million, a 146% increase from 2021. The Vietnam Cashew Association attributes the difficultly in increasing cashew prices to inflation and the Russia-Ukraine conflict, which has impacted the export of Vietnamese cashew nuts.

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

Original content

Cashew nut exports in the first half of 2022 faced many difficulties due to reduced consumption, small orders, etc. However, this item still retains an important role in major markets such as the US and China. Illustration According to data from the General Department of Customs, in June 2022, cashew nut exports were estimated at nearly US$285 million, down 6.9% in volume and 6.5% in value compared to May 2022. Accumulating 6 months, export of cashew nuts is estimated at more than 1.5 billion USD, down 9.2% over the same period in 2021. According to the Import-Export Department (Ministry of Industry and Trade), Vietnam is currently the number one supplier of cashew nuts to the US and China, and Vietnam's cashew nut market share in these two markets has gone up. Specifically, data from the US International Trade Commission shows that in the first 6 months of the year, the US imported 80,000 tons of cashew nuts, equivalent to US$ 521 million, up 4% in volume and 8.5% in value. ...

Source: Vinacas