Vietnam is the largest source of cashew nuts for the USA and China

According to statistics from the General Department of Customs, Vietnam's cashew exports in December 2022 reached 46,930 tons, worth 269.1 million USD.

For the year of 2022, Vietnam's cashew nut exports reached 519,780 tons, worth 3.08 billion USD, down 10.3% in quantity and 15.1% in value compared to 2021. Thus, in By 2022, Vietnam's cashew exports will not reach the target of 3.2 billion USD.

In December 2022, the average export price of Vietnam's cashew nuts reached $5,734/ton, up 1.0% compared to November 2022, but down 6.8% compared to December 2021. For the year of 2022, the average export price of Vietnam's cashew nuts reached $5,938 per ton, down 5.4% compared to 2021.

A report by the Import-Export Department (Ministry of Industry and Trade) shows that in 2022, Vietnam's cashew exports to many markets will decrease compared to 2021, including: the USA, China, the Netherlands, Germany, Australia, and the UK, Canada.

Notably, cashew nut exports to the United Arab Emirates increased by 42.8% in quantity and 35.4% in value; Saudi Arabia increased 44.9% in quantity and 33.7% in value compared to 2021.Currently, the US and China are the main import markets of Vietnamese cashew nuts. According to the US International Trade Commission, in the 11 months of 2022, the US imported over 137,000 tons of cashew nuts from the world market, worth US$867.4 million, down 17.9 percent in quantity and 19.2 percent down. % in value over the same period in 2021.

In which, the US imported cashew nuts from Vietnam reached 121,950 tons, worth $ 768.49 million, down 18.2% in quantity and 19.6% in value.

Vietnam's cashew nut market share in total US imports accounted for 89% in the 11 months of 2022, lower than the market share of 89.32% in the 11 months of 2021.

Meanwhile, according to China Customs, China's cashew nut imports from the world market in the first 11 months of 2022 reached approximately $243.47 million, up 39.5% over the same period in 2021.

In which, China imported nearly 215.3 million USD of cashew nuts from Vietnam, up 38.2%. Vietnam's cashew nut market share in China's total import value accounted for 88.43% in the 11 months of 2022.

The Vietnam Cashew Association (VINACAS) set an export target of $3.1 billion in 2023, up 0.6% compared to 2022.

Origin: Baodanviet