Nuts

Cashews: Vietnam's exports continue to recover

July 27, 2023 at 11:14 AM , Der AUDITOR
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HANOI. As the latest June data show, Vietnam's export figures can continue to recover after the low during the coronavirus pandemic. Especially the USA and China are important target markets.

Significant year-on-year increase

Citing statistics from the General Department of Customs, the Import-Export Department of Vietnam's Ministry of Industry and Trade said Vietnam's cashew exports in June stood at 59,120 mt worth just over USD 339 million. This represents a 2.9% increase in volume compared to the previous month, but a 0.4% decrease in value. The year-on-year increase is more pronounced: compared to June 2022, 27.2% more cashews were shipped overseas, with the average export price in June 2023 at USD 5,735/mt, as reported by the Vietnam Cashew Association (Vinacas). A total of nearly 279,430 mt worth USD 1.63 billion was exported from Vietnam in the first half of 2023, representing a year-on-year increase of 11.9% in volume and 8.8% in value.

USA and China are most important export markets

Vietnamese market experts believe that exports to many key markets have the potential to increase further. Opportunities are particularly strong for shipments to the USA, China, the United Arab Emirates and Australia, while exports to the Netherlands and Germany have declined. Vietnam remains the top cashew supplier for US importers - recent data indicate that a total of 74,449 mt of cashews worth just under USD 432 million were shipped to the United States in the first six months of 2023, up nearly 39% from the corresponding period in 2022, with June 2023 accounting for 16,387 mt worth just under USD 94 million.

Exports to China, Vietnam's second most important export destination, are also flourishing, according to Vinacas. Exports reached 10,079 mt worth USD 60.5 million in June, up nearly a quarter compared to the same month last year. Vietnam's total exports to China in the first half of 2023 were 40,196 mt worth USD 259 million, up 41.09% in volume and 43.17% in value from the corresponding period last year.

German imports on the rise

Germany's imports increased by a good 12% in the period from September 2022 to May 2023. Vietnam remains the most important supplier with a good 30,000 mt, followed by the Netherlands and Côte d'Ivoire, which were able to increase their shipments to Germany by an impressive 168.6 and 216.8% respectively. India's exports to Germany, however, fell significantly by almost 80% to only 843 mt.

Cashew* imports, Germany, in mt

Supplier

2021/22

2022/23

Diff.

Vietnam

28,177

30,214

7.2%

Netherlands

2,606

7,001

168.6%

Côte d'Ivoire

1,994

6,316

216.8%

India

4,025

843

-79.1%

Burkina Faso

557

619

11.1%

Others

5,342

2,913

-45.5%

Total

42,701

47,906

12.2%

Federal Statistical Office of Germany / Sep-May

*08013200 Fresh or dried cashew nuts, shelled

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