Vietnam's Cashew Nut Exports Decline Slightly in Q1 2022

Vietnam's Cashew Nut Exports Decline Slightly in Q1 2022.  For more information on export to China, please call SINOLOBEN, service Email: sinoloben@sloben.com.

The market for imported Vietnamese cashew nuts has changed due to the impact of the New Crown Pneumonia epidemic, making cashew nut exports, especially the main cashew nut export market in Vietnam, affected.

According to the General Administration of Vietnam Customs, in March 2022, Vietnam's cashew processing and export industry exported 40,000 tons of cashew nuts, generating $241 million in foreign exchange, with a year-on-year drop of more than 11 percent in export volume and 9 percent in export value. in the first quarter of 2022, Vietnam's cashew nut export volume was 105,000 tons, generating $630 million in foreign exchange, with a year-on-year drop of 6.7 percent in export volume and 5 percent in export value.
 
Representatives of the Vietnam Cashew Association revealed that while the US, German, UK and French markets have increased imports of Vietnamese W320 cashew nuts, many traditional major markets of the Vietnamese cashew industry have seen a significant drop in imports of especially W320 cashew nuts, such as the Netherlands, Canada, China, Italy and Russia.
 
Meanwhile, the export structure of Vietnamese cashew nuts is dominated by W320, W240, and WS/WB cashew nuts. Especially in the first quarter of 2022, W320 cashew exports accounted for more than 40% of the total exports and more than 50% of the total cashew exports in the first quarter of 2022.
 
In addition, many cashew nuts exported from Vietnam to Italy encountered problems in mid-March 2022. The loss of import and export documents caused Vietnamese enterprises to be unable to sell, which had an impact on the volume and value of Vietnamese cashew exports in the first quarter of 2022.
 
Up to now, all containers of cashew nuts with missing documents have been controlled. According to the information of Vietnam Commercial Office in Italy, at present, Vietnam Commercial Office in Italy has cooperated with local authorities to control the goods with lost documents

Consulting service for China's imports & exports, please contact us.

Ms. Linda Li
0086（0）21 3538 3306
sinoloben@thecustoms.com.cn

As food importer & food distributor based in Frankfurt and Shanghai, Sinoloben Europa Trading GmbH helps client export to China and bring your food products to International Expo, e.g. China International Import Ex