The trade deficit is nearly 600 million USD in 2021, the cashew industry “breaks the chain” and has a surplus after 30 years


Cashew export turnover in 2021 is estimated at 3.63 billion USD, up 13% compared to 2020. However, from the beginning […]

Cashew export turnover in 2021 is estimated at 3.63 billion USD, up 13% compared to 2020. However, from the beginning of the year to mid-December, our country’s enterprises have imported up to 2.83 million tons of raw cashew. , costing 4.119 billion USD. Thus, this is the first year that the cashew industry fell into a trade deficit, with a trade deficit of about 600 million USD…

In 2021, there are many big changes for the cashew processing and export industry, witnessing the massive import of raw cashew nuts. Especially in the context of both facing the situation of social distancing to cope with the Covid-19 epidemic, and having to deal with the shortage of containers, increasing logistics costs, causing the profit of the cashew industry to be shared. into these occurrences.
According to the Ministry of Agriculture and Rural Development, cashew export results in 2021 are estimated at 577,400 tons, export turnover will reach 3.63 billion USD, up 12% in volume and 13% in value compared to 2020.
The United States remains the largest export market of Vietnam’s cashew kernels, accounting for nearly 33% of total export turnover. For the European market, accounting for more than 24% of the country’s cashew export turnover. With the Chinese market, accounting for more than 14% of Vietnam’s cashew export turnover.
Currently, the two markets showing signs of increasing cashew imports from Vietnam are Germany and Taiwan (China). Specifically, according to the European statistics agency, Germany’s cashew imports account for about 29% of the total volume and turnover of the whole bloc. The demand for cashew nut consumption in Germany is continuously increasing due to high demand from the food processing industry and the final consumer demand of the people.
The structure of Vietnam’s cashew exports in general has fluctuated, in addition to focusing on exporting the main types of cashew nuts W320 and W240, Vietnam’s cashew industry promotes the export of high-value cashews such as cashew nuts. W180. W180 cashew nut is the cashew nut with the highest growth rate in 2021, up 43.4% in volume and 56% in value over the same period in 2020, reaching approximately 15 thousand tons, worth 127 million dollars. The average export price of W180 cashews reached 8,515 USD/ton, up 8.8% compared to 2020.
In which, China is the main export market of W180 cashew nuts, the volume reached 7.74 thousand tons, worth 61.21 million USD, up 33.7% in volume and 53.2% in value compared to that of cashew nut. same period in 2020; followed by the Israeli market with a volume of 1.61 thousand tons, worth USD 15.3 million, up 65.5% in volume and 59.3% in value.
When the cost of transportation and logistics has increased in recent months, making it difficult for the Vietnamese cashew nut price to compete with that of India and Brazil, the Vietnamese cashew industry has taken advantage of exploiting markets such as China, Japan and a small part of the world. number of niche markets in the European Union.
Expanding the form of transport will help businesses speed up delivery. The train carrying containers of cashew nuts from Hanoi to Belgium marked the opening of more transport routes deep into Europe, making the cashew industry more favorable.

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