Why did Vietnam's cashew exports to Europe spike?

The tax rate for cashew nut products imported from Vietnam has been reduced to 0%, instead of the oscillating figure of 7 - 12% as before., In 2021, Vietnam's cashew exports to the EU will reach 135,000 tons, up 16.5% in volume and 7.9% in value compared to 2020. The EU market has great potential for Vietnamese cashew nuts to penetrate and occupy the No. 1 position in the market. In the first 4 months of the year, cashew exports to this market reached 48.68 thousand tons, worth 290.23 million USD, up 21.8% in volume and 21.4% in value compared to March. Notably, EU countries such as the Netherlands, Germany, the UK, and Italy are currently in the top 10 cashew export markets of Vietnam. In which, the Netherlands is the largest cashew nut import market of Vietnam, with a market share of approximately 60%. Germany ranked second with 47% market share. Britain accounted for 40.6%, France 48%, Spain 37.5%. Dang Hoang Giang - General Secretary of the Vietnam Cashew ...