Startled when the US still surpassed China to become the number 1 market to import cashew nut product of Vietnam
The Covid-19 epidemic is complicated, and transportation costs are high, but Vietnam's cashew industry still asserts its position as the number 1 supplier in the US.
2021 is a year of great changes for the cashew nut processing and export industry. 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.
However, statistics of Vietnam Customs show that cashew nut export results in 2021 reached 577,400 tons, export turnover reached 3.63 billion USD, up 13% in value and 12% in volume compared to that of Vietnam. 2020.
This result is achieved because cashew nut exports have accelerated since many months in 2021. Cashew exports only slowed down in November 2021. Vietnam's cashew exports in November 2021 reached 50.7 thousand tons, worth 329.86 million USD, down 4.5% in volume and 6.0% in value compared to October 2021. However, compared to November 2020, it still increased by 9.6% in volume and 16.2% in value. In the first 11 months of 2021, Vietnam's cashew exports will reach approximately 531.5 thousand tons, worth 3.34 billion USD, up 14.4% in volume and 14.7% in value over the same period. term 2020.
Vietnam's cashew industry still affirms its position as the number 1 supplier in the US...
In 2021, Vietnam's cashew industry faces many difficulties due to complicated developments of the Covid-19 epidemic and high logistics costs. However, with the results achieved in the first 11 months of 2021, cashew nut exports have exceeded the set target for this year.
To achieve the above positive results is thanks to the efforts of cashew nut processing and exporting enterprises that still maintain production and ensure supply, despite the complicated developments of the 4th Covid-19 wave. Besides, new generation FTAs help Vietnam's cashew industry to boost exports to key and potential markets such as EU member markets, Russia, Canada, UK, and Japan. Notably, Vietnam's cashew industry still maintains export growth to the US market, the largest and most important export market.
Although it remains at a low level, the recovery in the average export price of cashew nuts since mid-2021 compared to 2020 also helps the cashew industry to increase its value. According to statistics from the General Department of Customs, the average export price of cashew nut of Vietnam in November 2021 reached 6,505 USD/ton, down 1.6% compared to October 2021, but up 6.0% compared to October 2021. with November 2020. In the first 11 months of 2021, Vietnam's average export price of cashew nuts reached $6,288/ton, up 0.2% over the same period in 2020.
Regarding the market, in November 2021 compared to November 2020, Vietnam's cashew exports to many traditional markets increased sharply, except for China, the UK, and Russia. In the first 11 months of 2021, cashew nut exports to the US, China, Netherlands, Germany and Canada markets increased, but exports to Australia and the UK decreased.
In fact, last year, due to the complicated development of the Covid-19 epidemic, Vietnam had to apply strict social distancing measures on a large and prolonged basis. In addition, the high freight rates have negatively impacted the export of Vietnamese cashews to the US.
In addition, Vietnam's cashew nut is also subject to stiff competition from the Ivory Coast and Nigerian markets, but Vietnam's cashew nut market share in total US imports will still increase in 2021. According to the Vietnam Cashew Association The US remains the largest export market of Vietnam's cashew kernels, with a volume of 149,000 tons, worth more than $880,600 million, accounting for nearly 30% 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.
This shows that the Vietnamese cashew industry has affirmed its position as the number 1 supplier in the US thanks to its stable supply, guaranteed quality and very high efforts.
Up to now, Vietnam's cashew nuts have been present in more than 90 countries and territories. This is an opportunity for the cashew processing industry to turn around the situation in the context of the Covid-19 epidemic because this market is affected or closed for trade, but other markets can still operate, avoiding disruption. cashew nut production and export chain.
According to the Import-Export Department, Ministry of Industry and Trade, this is the peak season for cashew nut consumption, markets such as the US, Europe, China, Taiwan (China),... are still increasing imports. . Domestically, the social distancing is gradually being eased, helping the cashew industry's production and transportation activities more smoothly.
In addition, the 3 main export markets such as the US, Europe and China always maintain positive growth in cashew nut consumption as well as huge market demand at the end of the year (lunar calendar), so forecast Cashew nut exports in January 2022 will continue to prosper.
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