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According to the forecast of the Ministry of Industry and Trade, Vietnam’s cashew nut exports to the EU market in 2021 will reach 135,000 tons, an increase of 16.
5% over 2020; the export value will reach US$816 million, an increase of 7.
9% over the same period last year
.
The above growth rate is due to the high demand for cashew nuts in the EU in the last month of the year due to cyclical factors, to serve the Christmas holidays and to welcome the new year
.
5% over 2020; the export value will reach US$816 million, an increase of 7.
9% over the same period last year
.
The above growth rate is due to the high demand for cashew nuts in the EU in the last month of the year due to cyclical factors, to serve the Christmas holidays and to welcome the new year
.
It is worth noting that the structure of Vietnam's cashew exports to the EU market has fluctuated
.
In addition to focusing on exporting major cashew types such as W320 and W240, Vietnam's cashew industry also promotes the export of high-value cashew types such as W180
.
.
In addition to focusing on exporting major cashew types such as W320 and W240, Vietnam's cashew industry also promotes the export of high-value cashew types such as W180
.
In the first 11 months of 2021, W320 cashews are the most exported product to the EU market, accounting for 60.
6% of the total export value and 67.
8% of the total export value.
Its export volume reached 74,230 tons, a year-on-year increase of 9.
9%; $497.
71 million, down 1.
7% year over year
.
6% of the total export value and 67.
8% of the total export value.
Its export volume reached 74,230 tons, a year-on-year increase of 9.
9%; $497.
71 million, down 1.
7% year over year
.
In the first 11 months of 2021, a number of cashew varieties exported to the EU have grown significantly, including W240, W180, DW, W210 and other cashew varieties
.
In contrast, exports of cashew varieties such as WS/WB, W450, LP and SP declined
.
.
In contrast, exports of cashew varieties such as WS/WB, W450, LP and SP declined
.
The representative of the Ministry of Industry and Trade commented: “It can be seen that Vietnam’s cashew industry is working hard to promote the export of high value-added cashew nuts to the EU
.
However, the export level of W240 and W180 cashew types is low and only in potential form”
.
.
However, the export level of W240 and W180 cashew types is low and only in potential form”
.
After a rather successful year against the backdrop of a complex and severe COVID-19 situation, difficulties in production and customs clearance, and rising freight rates, Vietnam’s cashew nut exports to the EU in 2022 are expected to increase by about 15% compared to 2021, reaching 15.
5%.
More than 10,000 tons; exports increased by 10%, reaching 900 million US dollars
.
5%.
More than 10,000 tons; exports increased by 10%, reaching 900 million US dollars
.
According to the analysis of supply and demand factors, the export price of cashew nuts tends to rebound by the end of 2021
.
.
The EU is currently the second largest export market for cashew nuts in Vietnam, accounting for 23% of the total export volume and 22% of the total industry value
.
Thus, the growth of cashew nut exports to the EU has contributed significantly to the overall growth rate of the industry
.
.
Thus, the growth of cashew nut exports to the EU has contributed significantly to the overall growth rate of the industry
.
After the Vietnam-EU Free Trade Agreement (EVFTA) comes into effect on August 1, 2020, the EU tax rate on processed cashew nut products imported from Vietnam will be zero immediately
.
This drop is significant because before the EVFTA came into force, the EU tax rate on cashew imports from Vietnam fluctuated between 7% and 12%
.
.
This drop is significant because before the EVFTA came into force, the EU tax rate on cashew imports from Vietnam fluctuated between 7% and 12%
.
This will continue to help the Vietnamese cashew industry to increase exports to the EU and expand its market share not only in key markets but also in niche markets in 2022
.
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.
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