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EU has a large demand for cashew nut imports in 2022

15/02/2022

EU – The region with the highest economy and living standards in the world – is welcoming Vietnamese cashew nuts […]

EU – The region with the highest economy and living standards in the world – is welcoming Vietnamese cashew nuts in 2022.

Specifically, the EU is currently Vietnam’s second largest cashew nut export market, accounting for 23% of the total volume and 22% of the total value of the industry. Therefore, the growth of cashew nut exports to the EU contributed significantly to the overall growth of the industry. Vietnam’s cashew exports to the EU in the first 11 months of 2021 reached approximately 122.5 thousand tons, worth USD 734.38 million, up 15.2% in volume and 6.2% in value over the same period. period 2020. Regarding market structure: In the first 11 months of 2021, Vietnam’s cashew industry exports to 23 EU member markets. In particular, the cashew industry has well exploited the Dutch and German markets. Cashew nut export turnover of Vietnam to the Netherlands market reached 63.42 thousand tons, worth 345.71 million USD, up 12.3% in volume, but down 4.1% in value. Similarly, Vietnam’s cashew exports to Germany reached 19.4 thousand tons, worth 122.64 million USD, up 9.5% in volume and 6.2% in value. Germany and the Netherlands are now important trading hubs for imported cashews for re-export. Besides, Vietnam’s cashew industry has also well exploited other EU member markets such as France, Spain and Poland. These are all good markets for cashew nuts. Notably, cashew nut exports to Finland increased by 625.7% in volume and 629.6% in value. Thus, Vietnam’s cashew industry has been quite successful when exploiting gateway markets such as the Netherlands and Germany, and at the same time, Vietnamese enterprises have well exploited other markets in the EU such as Finland, Poland, and Belgium. , Spain, Romania, Portugal.
The structure of Vietnam’s cashew exports to the European Union in general has fluctuated, besides focusing on exporting the main types of cashew nuts W320 and W240, Vietnam’s cashew industry promotes the export of high-value cashew nuts. like W180 cashews. In the past 11 months, W320 cashew nut was the most exported product to the EU market, accounting for 60.6% of the total volume and 67.8% of the total turnover, reaching 74.23 thousand tons, worth 497.71 billion USD, up 9.9% in volume, but down 1.7% in value over the same period in 2020. W320 cashew nuts are exported to most EU member markets. The average export price of W320 cashews to the EU in the 11 months of 2021 reached 6,705 USD/ton, down 10.6% compared to the same period in 2020 (in the period from January to October 2021, the average export price of nuts W320 to the EU decreased by 11.2%). Thus, it can be seen that the export price of W320 cashew nuts to the EU tends to increase again. In the first 11 months of 2021, the export of many types of cashew nuts to the EU increased sharply, including: Cashew nuts W240, W180, DW, W210. In contrast, exports of some types of cashew nuts WS/WB, W450, LP and SP decreased. As can be seen, Vietnam’s cashew industry is making efforts to promote high-value-added cashew nuts into the EU.

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