The Chinese market reduces cashew nut imports from Vietnam

The Import-Export Department (Ministry of Industry and Trade) quoted data from the General Department of Customs as saying that, in May 2022, Vietnam's cashew exports will reach 55 thousand tons, worth 330 million USD, up 13% in value. volume and 13.7% increase in value compared to April 2022, 3.2% increase in volume and 0.8% increase in value compared to May 2021.

One of the biggest difficulties of the cashew industry today is fierce competition with rivals.

However, in the first 5 months of 2022, Vietnam's cashew nut exports decreased by 3.2% in volume and 2.9% in value over the same period in 2021, estimated at 208 thousand tons, worth 1 ,24 billion USD.

In May 2022, the average export price of Vietnam's cashew nuts was estimated at 6,000 USD/ton, up 0.6% compared to April 2022, but down 2.3% compared to May 2021. In general, in the first 5 months of 2022, the average export price of Vietnam's cashew nuts is estimated at 5,968 USD/ton, up 0.3% over the same period in 2021.

One of the biggest difficulties of the cashew industry today is fierce competition with rivals. According to the Import-Export Department, citing data from the Chinese Customs Administration, in April 2022, the country's cashew imports increased sharply, reaching $21.56 million, up 112.6 percent compared to April 2021. . Generally, in the first 4 months of 2022, China's cashew imports reached 55.45 million USD, up 42.5% over the same period in 2021.

Vietnam is the largest source of cashew nuts for the Chinese market , with a turnover of 19.71 million USD in April 2022, up 96.2% compared to April 2021. In general, in the first four months of 2022, China's cashew imports from Vietnam reached 45.57 million USD, up 21.3% over the same period in 2021.

Vietnam's cashew nut market share in China's total imports decreased from 96.52% in the first four months of 2021 to 82.16% in the first four months of 2022.

Notably, China sharply increased cashew nut imports from Myanmar, in April 2022, import turnover reached 1.72 million USD; accumulated in the first 4 months of this year reached 7.99 million USD. Myanmar's cashew nut market share accounted for 14.41% of China's total imports in the first four months of this year. As can be seen, the cashew nut industry in Vietnam is facing fierce competition from Myanmar in the Chinese market.