Forecast of coffee and cashew nut exports to the EU this year 2022


Specifically, coffee exported to the EU will have 93% of tax lines to 0% in 2022, when the EVFTA agreement […]

Specifically, coffee exported to the EU will have 93% of tax lines to 0% in 2022, when the EVFTA agreement comes into effect. This is a good opportunity for Vietnamese coffee when the EU is the largest coffee consuming market in the world, with import turnover from foreign countries about 10 billion USD/year, accounting for 66% of imports and about 30% of global consumption. With an export value of 939 million USD in the 11 months of 2021, the EU is also Vietnam’s largest coffee export market, accounting for nearly 34.8% of the total export turnover of this item. Among EU member markets, Vietnamese coffee is exported mainly to the following countries: Germany ($377 million), Italy ($205 million), Spain ($119 million) and Belgium ($97 million).

According to general information Coffee exports to the EU in 11 months of 2021 only increased slightly by 0.5% (due to a decrease of 11.6% in export volume) compared to the same period in 2020, but among agricultural products To the EU, coffee still maintains its leading position in export value. Notably, HS code 09011110 (Arabica WIB or Robusta OIB) is the most exported variety, reaching 838 million USD (equivalent to the same period in 2020) and accounting for more than 89% of total coffee export turnover to the EU market. . Second is HS code 21011110 (instant coffee) with export turnover of about 60 million USD, up about 4.2% over the same period and accounting for about 6.4%.

Referring to the cashew industry, items such as cashew kernels in previous years still enjoy a preferential rate of 0% when exported to the EU, but deep processing is still subject to a tax of 7 to 12%. But in 2022, products that are deeply processed from cashew nuts will be reduced to 0% tax. Therefore, despite many impacts from the epidemic, the output and value of cashew exports to the EU not only did not decrease but also increased. According to aggregate data, cashew nut exports to the EU in 11 months of 2021 reached 122 thousand tons, equivalent to 734 million USD, up 15.2% in volume and 6.2% in value over the same period in 2020.

This is the item with the second largest export turnover among agricultural products exported to the EU. The EU is Vietnam’s second largest cashew nut export market (after the US), accounting for 22% of the total export turnover of this item in the first 11 months of 2021. Among EU member markets, cashews are exported. mainly to two countries: the Netherlands (reaching 346 million USD) and Germany (reaching 123 million USD). The demand for cashew nut consumption in these countries has continuously increased due to high demand from the food processing industries and the final consumer demand of the people, showing a positive prospect of cashew nut exports this year. 2022.

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