Vietnams cashew nuts are No.1 in most big markets

For many reasons, cashew nuts import value decrease in most big markets in the first half of this year. But Vietnam’s cashew nuts still occupy the highest position.

Processing cashew nuts for export at Hoang Son 1 Company (Binh Phuoc province).

According to the Department of Export and Import under the Ministry of Industry and Trade (MoIT), in the first months of 2021, the low price of cashew nuts affects most import’s value globally. In the first 5 months of 2021, the cashew nuts import’s value of big markets decreased compared to the same period of 2020.

In that situation, Vietnam’s cashew nuts industry holds firmly its No.1 position in most big markets. Of the TOP10 biggest markets, Vietnam’s cashew nuts occupy a big share, if not say “overwhelm”.

In details, in the first 5 months this year, statistics from the International Trade Center (ITC) show Vietnam’s cashew nuts gross weight accounts for 98.58% of that imported to Australia, 92.9% of that imported to Turkey, 87.64% of that imported to the U.S, 87.38% of that imported to Thailand, 77.9% of that imported to Canada, 64.99% of that imported to France, 59.8% of that imported to Germany, 59.3% of that imported to the UK, 39.81% of that imported to Spain, 38.97% of that imported to Japan.

That says, in 8 out of 10 the biggest import markets, Vietnam’s cashew nuts occupy over 50% of import shares, apparently hold the No.1 position in these markets.

U.S is a huge market of Vietnam’s cashew nuts, even though exports to this market decrease by large amount due to the significantly import decrease and the serious shortage situation of containers.

In the first 5 months of this year, the value of cashew nuts’ imports of the U.S reached US$ 389.81 million, a decrease of 17.2% compared to the same period of 2020. Of that amount, the turnover of import from Vietnam was US$ 341.61 million, a decrease of 17.2% compared to the same period of 2020.

Even though, U.S market is still a big consuming market. The North America, market, mainly the U.S, is forecasted to grow 4.3% yearly by average in the period of 2020-2025. That means the export potentials of cashew nuts to the U.S market is still very big.

In Europe, France’ market is a bright spot for Vietnam’s cashew nuts. In the first 5 months of 2021, the total value of cashew nuts’ import of France was US$ 52.95 million, increased by 16.1% compared to the same period of last year. France’ import value of cashew nuts from Vietnam grew 36.2%, reached US$ 34.41 million.

France is the third biggest market for cashew nuts in Europe, with the average increase of 7.99% yearly in the period of 2015-2020. This market is forecasted to grow in the coming time. French use cashew nuts as popular snacks. Cashew nuts are used in drinks, such as sugar free cashew nuts milk, cashew nuts chocolate, etc. And organic cashew nuts are becoming more popular in France.

In Japan’ market, Vietnam’ cashew nuts are in the second position after India’s cashew nuts, but Japan is now increase to buy Vietnam’ cashew nuts instead of India’s cashew nuts. In the first 5 months of 2021, Japan imported cashew nuts with the turnover reached US$ 33.17 million. In that amount, the turnover of India decreased by 22.8%, downed to US$ 19.14 million. In contrary, Japan increased importation from Vietnam with the growth of 4.5% and reached US$ 12.92 million. Thanks to that, Vietnam’s market shares and the export turnover grew impressively in the first 5 months of 2021 compared to the same period of last year.