The average export price of Vietnam's cashew nuts is reaching the highest level since the beginning of the year
According to statistics from the General Department of Customs, in May 2022, Vietnam's cashew exports reached 49.9 thousand tons, worth $304.65 million, up 2.5% in volume and 5.0 % in value compared to April 2022, but compared to May 2021, down 6.4% in volume and 7.0% in value. In the first 5 months of 2022, Vietnam's cashew exports reached 202.9 thousand tons, worth 1.21 billion USD, down 5.7% in volume and 5.0% in value over the same period last year. year 2021.
About the market: In May 2022 compared to May 2021, cashew nut exports to many key markets decreased, except for the UK, the United Arab Emirates and Saudi Arabia. In the first 5 months of 2022, cashew nut exports to many key markets increased compared to the same period in 2021, including: the United States, the United Kingdom, Australia, the United Arab Emirates, Saudi Arabia, and Italy.
According to Vinacas, the export of cashew kernels in the last months of the year will face more difficulties due to high inflation globally, reducing purchasing power, and the Chinese market will continue to maintain the "Zero Covid" policy. Ships continue to stay high…
It is forecasted that the above factors will reduce the amount of cashew kernels exported in the coming months, which may last until the end of this year.
Vinacas has asked the Ministry of Agriculture and Rural Development to adjust the export target of cashew nuts this year to $3.2 billion, down $600 million compared to the plan set out at the beginning of the year and down $400 million compared to 2021.
Europe is having to buy cashew nuts at an expensive price, an opportunity for Vietnamese cashew
According to Eurostat, in the first quarter of 2022, cashew nut imports into the European Union, a major market for Vietnam's cashew nuts, reached approximately 50.4 thousand tons, worth 325.67 million EUR (341.81 million USD). , up 0.2% in volume and 11.2% in value over the same period in 2021. The average import price of cashew nuts into the EU market in the first quarter of 2022 reached EUR 6,462/ton (US$6,782/ton). tons), up 11% over the same period in 2021.
Specifically, in the first quarter of 2022, the Netherlands imported 14.83 thousand tons of cashew nuts, worth over 95 million EUR (99.72 million USD), down 5.3% in volume, but up 7.5% in value. price compared to the same period in 2021. The average import price of cashew nuts of the Netherlands in the first quarter of 2022 reached EUR 6,407/ton (US$6,725/ton), up 13.6% over the same period in 2021.
In the first quarter of 2022, the Netherlands imported 11.7 thousand tons of cashew nuts from Vietnam, worth EUR 74 million (US$77.76 million), down 10.6% in volume, but up 1.8% in value. price compared to the same period in 2021. Vietnam's cashew nut market share in total Dutch imports decreased from 83.49% in the first quarter of 2021 to 78.83% in the first quarter of 2022.
In the first quarter of 2022, the Netherlands increased its imports of cashew nuts from the markets of India, Burkina Faso and Nigeria. The cashew nut market share of the above markets in the total import volume of the Netherlands increased from 6.49%, 1.14% and 0.31% in the first quarter of 2021 to 8.56%, 2.73%, respectively. and 1.93% in the first quarter of 2022. However, the cashew nut market share of India, Burkina Faso and Nigeria in the Netherlands is still low, unable to compete with Vietnam's cashew nut.
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