Nuts

Cashews: Vietnam retains market position in U.S.

April 25, 2022 10:27 AM, Der AUDITOR
Play report as audio

HANOI. Vietnam is the leading supplier of cashews for the U.S. and the UK. While Vinacas, the Vietnam Cashew Association, is concerned about losing market shares in the U.S., things are more encouraging in the UK. Prices are also turning in different directions in the EU and India.

U.S. imports shift towards Africa

The U.S. imported 13,510 mt of cashews worth USD 90.66 million in January, which is 13.5% up in terms of volume and 24.2% up in terms of value on January 2021 as recently issued United States International Trade Commission (USITC) data shows. Vietnam supplied as much as 11,780 mt worth USD 78.24 million meaning that shipments to the US rose by 8.9% in terms of volume and by 19.1% in terms of value as compared with January 2021. Vinacas, nevertheless, highlights that the country's market shares declined from 90.87% to 87.2% in January since the U.S. has stepped up buying in Côte d'Ivoire, Nigeria and other countries. The Association, however, reckons that this trend will only be temporary and poses no real threat to Vietnam's position as top supplier.

Vietnam gains market shares in UK

Things are, by contrast, much more encouraging in the UK as Vietnam has clearly gained marekt shares here. Vietnam's Ministry of Industry and Trade reports that the UK imported 3,410 mt of cashew nuts worth USD 22.53 million from the country in January and February, which is 14.3% up in terms of volume and 38% up in terms of value on the same period last year. Vietnam, in other words, currently holds a market share of 90.95% in the UK, which is more than the 78.72% held last year. The UK imported a total of 3,700 mt of cashews worth USD 25.24 million in January-February 2022.

Spot market prices have declined slightly in Europe with prices for WW320 cashew kernels from Vietnam presently ranging at USD 7.13/kg FCA Spain. Prices are, however, relatively firm in India. W320 kernels currently cost USD 8.16/kg FOB India.

Cashew kernels

Type

EUR/kg

USD/kg

WW320, Vietnam, FCA Spain

6.60

7.13

Small pieces, Vietnam, FCA Spain

2.95

3.19

W320, FOB India

7.60

8.16

W240, FOB India

8.19

8.80

Trade sources

 

View more
price charts for edible nuts
price charts for dried fruit, oilseeds, spices and more

View related articles

Go to the News Overview
Nuts
May 25, 2022
ORDU. Over the last few weeks reality has kicked in that sufficient supplies are available, and attention shifted more towards the new crop. At present, the mood is, however, shifting in Turkey’s hazelnut market. Issue are strange dynamics. The market may also have to adjust production estimates for the new crop.
Nuts
May 25, 2022
MADRID/SACRAMENTO. While almond production will range 4% lower in California at 2.80 billion pounds, things are also far from encouraging in Spain. According to the National Nut Board production will range 30% lower than last year. Judging by experience, however, the estimates presented by this organisation tend to be rather conservative.
Nuts
May 23, 2022
NEW DELHI. Although the prices for peanuts have fluctuated in a narrow range in India in recent weeks, traders reckon that this is about to change. Issue are global factors, especially since production is under the weather in Brazil. Recently updated production estimates, however, tell a different story.
Nuts
May 19, 2022
ORDU. Economists reckon that Turkey is witnessing an unprecedented economic crisis of epic proportions. Hazelnut suppliers report the inflation is much worse than official figures suggest, and exporters are dealing on slippery grounds. The production estimates issued at the International Nut and Dried Fruit Congress also illustrate some surprising trends.