Suggestions for you

Cashew nut exports for the first time surpassed the USD 3.6 billion mark

17/01/2022

Cashew nut exports in 2021 gain good growth, reaching new records in both volume and value. In which, for the first time, the turnover has exceeded USD 3.6 billion.

In 2021, despite many great difficulties due to the Covid-19 pandemic, disruption of the global supply chain, high transportation costs..., but cashew nut exports still gain good growth, setting new records in volume and value.

Information from the General Department of Customs shows that, in the past year, cashew nut exports reached a record of 580 thousand tons, 65 thousand tons higher than the old record of 2020 (515 thousand tons).

In terms of value, cashew nut exports in 2021 reached a record of USD 3.64 billion, more than USD 100 million higher than the old record achieved in 2017 (USD 3.51 billion).

The US is still the largest market for Vietnamese cashew nuts. In the past year, cashew nut exports to the US reached 176 thousand tons, worth USD 1.052 billion. Vietnamese cashews currently account for about 90% of the cashew nut market in the US.

Regarding the types of cashews for export, in 2021, the export of most types of cashew nuts of Vietnam increased, except for cashew nuts of the types: WS/WB, LP, DW.

In which, the good growth of W320 cashew nut has largely contributed to the overall growth of the industry when accounting for 41% of the total volume and 46.2% of the total cashew nut export turnover of the country.

Specifically, in the first 11 months of 2021, the export of W320 cashew nuts reached over 218 thousand tons, worth USD 1.54 billion, an increase of 10.2% in volume and 7.6% in value over the same period in 2020.

The export market of W320 cashew nuts is up to about 90 countries and territories. In which, the traditional export markets are the US, EU, China, Canada, Australia, UK, Turkey, Russia.

In the first 11 months of 2021, W320 cashew nut exports to most of the traditional markets grew positively. Notably, W320 cashew nut exports to Russia increased by 96.6%; United Arab Emirates increased by 162.5%; Iran increased by 311.3%; Finland increased by 398.7%, etc.

 

Kylie Nguyen

© 2019 Vietnam Bank for Agriculture and Rural Development No. 2 Lang Ha street, Ba Dinh district, Hanoi, Vietnam
Follow us