AsemconnectVietnam - According to the statistics figures of the General Department of Customs, in the first 7 months of 2021, Vietnam's cashew exports increased in both volume and in turnover compared to the same period of 2021.

Vietnam’s cashew nut exports in July and the first 7 months of 2021
Specifically, in the first 7 months of 2021, Vietnam's cashew exports were estimated at 324,000 tonnes, with a turnover of 1.97 billion USD, up by 21.4 percent in volume and 14 percent in value compared to the first 7 months of the year 2020.
Particularly in July of 2021, our country's cashew exports reached 50,000 tonnes, worth of 324 million USD, down by 14.9 percent in volume and 12.3 percent in value compared to June of 2021. However, in comparison to July of 2020, the cashew exports increased by 19.6 percent in volume and 33.5 percent in value.
Vietnam's main cashew nut export markets in the second quarter of 2021
According to the data of the General Department of Customs, Vietnam's cashew exports in the second quarter of 2021 reached 160,100 tonnes, worth of 980.91 million USD, up by 42.7 percent in volume and 49.3 percent in value compared to the first quarter of 2021. In comparison to the second quarter of 2020, the figure increased by 24.1 percent in volume and 20.6 percent in value. In the first 6 months of 2021, Vietnam's cashew exports reached 273.540 tonnes, worth of 1.65 billion USD, up by 21.8 percent in volume and 10.8 percent in value over the same period last year.
The proportion of Vietnam's cashew exports to the Americas and the EU in the total cashew nut export value of the country decreased from 36.79 percent and 30.01 percent in the second quarter of 2020, respectively, to 33.48 percent and 27.96 percent in the second quarter of 2021. In contrast, the proportion of Vietnam's cashew exports to Asia increased from 28.02 percent in the second quarter of 2020 to 33.59 percent in the second quarter of 2021.
Cashew industry had trade deficit in the first 2 quarters of 2021
According to the statistics figures of the General Department of Customs, Vietnam's cashew nut exports in the first 6 months of 2021 reached 273,537 tonnes, worth of 1.647 billion USD, up by 21.8 percent in volume and 10.8 percent in value compared with the same period last year.
In the opposite direction, Vietnam imported 1,710,517 tonnes of raw cashews, worth of 2.609 billion USD in the first six months of 2021, up by 168 percent in volume and 227.3 percent in value over the same period in 2020. Thus, in the first 2 quarters of 2021, the cashew industry had a trade deficit of nearly 1 billion USD.
Cashew nut export forecast in the third quarter of 2021
However, it is forecasted that cashew nut exports in the third quarter of 2021 will grow positively thanks to the increased import demand of the US and EU markets due to the cyclical factor.
The United States is a large cashew nut consumption market of Vietnam. The cashew nut market in North America (mainly the United States) is forecasted to grow at an average rate of 4.3 percent per year in the period 2020 - 2025. Therefore, the potential for Vietnam to export cashew nuts to the U.S is forecasted to be huge.
Meanwhile, the French consumers use cashews as a popular snack. Cashews are increasingly used as ingredients in nut-based beverages, such as unsweetened cashew milk, and other innovative products such as chocolate or snacks. Besides, the appearance of organic cashew retail brands in France is increasing. France is the third largest cashew nut import market in the EU, with an average import growth rate of 7.99 percent/year in the period 2015-2020. The French cashew nut market is forecasted to continue to grow in the future.
Experts say that the forecast of cashew nut exports in the third quarter of 2021 is positive growth thanks to the increased import demand of the US and EU markets according to the cyclical factor. However, the complicated developments of the 4th Covid-19 wave will negatively affect Vietnam's cashew nut production and transportation, due to tighter social distancing measures. The shortage of empty containers is likely to continue in the coming months. High freight rates are expected to last until 2022. High freight rates make Vietnam's cashew nut prices difficult to compete with products from India and Brazil.
CK
Source: VITIC/congthuong.vn