Nuts

Cashews: German market offers a lot of potential

December 8, 2021 12:12 PM, Der AUDITOR
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HANOI. Vietnam has by far the largest market share of German cashew imports. However, there is still room for improvement, also due to the simplifications resulting from the free trade agreement.

Vietnamese quality convinces

Vietnam's exporters are very positive about the German market in the new year. According to the Vietnamese Ministry of Industry and Trade, Germany continues to source a large part of its cashew imports from Vietnam, citing the stable supply situation and high quality. Germany imported a total of 45,200 mt of cashew nuts between January and September 2021. This is in line with the data of the Federal Statistical Office. The noticeable decline compared to the same period last year is mainly due to transport issues. According to the Vietnam Cashew Association (Vinacas), 28,230 mt of the imported quantity came from Vietnam, which despite a decline of about a quarter can thus secure a market share of 62.46%. The average import price was 7,177 USD/mt. Imports from India (-46%) and the Netherlands (-38.5%) also fell significantly, while Indonesia (+136%) and Côte d'Ivoire (+240%) were able to noticeably increase their shipments to Germany.

Cashew* imports, Germany, in mt

Country

2020

2021

Diff.

Vietnam

37,778

28,236

-25.3%

India

18,885

10,197

-46.0%

Netherlands

2,941

1,810

-38.5%

Indonesia

633

1,493

135.9%

Côte d'Ivoire

302

1,026

239.7%

Brazil

1,837

713

-61.2%

Others

2,514

1,729

-31.2%

Total

64,890

45,204

-30.3%

Federal Statistical Office of Germany / Jan-Sep

*08013200 Fresh or dried cashew nuts, shelled

EVFTA makes trade easier

According to Vinacas, Germany is the largest importer of cashew nuts within the EU. Demand here is rising continuously and the free trade agreement between the EU and Vietnam (EVFTA) has led to noticeable simplifications. Market players therefore expect that the export volume could increase again in 2022, according to estimates by a good 4%. Cashews are becoming increasingly popular in Germany, especially in the snack industry.

Prices on the European spot market have remained largely stable compared to last week. Vietnamese cashews, WW320 are traded unchanged at EUR 6.80/kg FCA Spain.

Cashew kernels, Vietnam

Type

EUR/kg

WW320

6.80

Large White Pieces

4.60

Small Pieces

3.20

FCA Spain

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