Exportation of cashew nuts show positive signs of growth
Faced with many difficulties involving Covid-19, cashew nut exports in the first nine months of 2021 still show positive growth both in value and volume.
According to the General Department of Vietnam Customs, in September 2021, Vietnam’s cashew nuts exports approached approximately 51,3 thousand tons, worth USD 341,1 million, an increase of 8,9% in volume and 9,2% in value compared to August 2021; a decrease of 0,3% in volume but an increase of 11,2% in value compared to September 2020.
Regarding the nine months of 2021 in general, Vietnam’s cashew nuts export reached 427,3 thousand tons, valued at USD 2,66 billion, a growth of 17,2% in volume and 15,1% in value compared to the same period of 2020.
The USA is still the largest market for Vietnam’s cashew nuts at the moment. In the nine mentioned months, exports of cashew nuts to the USA reached 133 thousand tons, worth USD 777 million. Next up is China (60 thousand tons and USD 444 million) and the Netherlands (53 thousand tons and USD 291 million).
The Agency of Foreign Trade (The Ministry of Industry and Trade) forecasts Vietnam’s cashew nuts exports to grow in the near future. The fourth quarter of the year is usually peak season for cashew nut consumption, so markets like the US, Europe, China will likely increase their imports. On the other hand, the state of social distancing in Vietnam has gradually loosened which creates more favorable conditions for production and transport activities.
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