Cashew nuts export exceeded USD 3.6 billion for the first time

Cashew nuts export in 2021 experienced good growth, achieving new records both in volume and value with turnover exceeding the USD 3.6 billion mark.

Cashew nuts export exceeded USD 3.6 billion for the first time. Photo: TL.

In 2021, despite great difficulties due to the Covid-19 pandemic resulting in disruption of the global supply chain and high freight rates, exports of cashew nuts still experienced good growth, achieving new records in volume and turnover.

Information from the General Department of Vietnam Customs shows that, in the past year, cashew nut export reached a record of 580 thousand tons, up to 65 thousand tons higher than the old record of 2020 (515 thousand tons).

In terms of value, cashew nut exports in 2021 reached a record of USD 3.64 billion, increasing more than USD 100 million compared to the old record in 2017 (USD 3.51 billion).

The USA is still the largest market for Vietnam’s cashew nuts. Over the previous year, cashew nuts export to the US reached 176 thousand tons, worth USD 1.052 billion. Vietnam’s cashew nuts currently account for about 90% of the total cashew nut market in the US.

In terms of cashew nut varieties for export, in 2021, exports of most varieties of Vietnam’s cashew nuts increased, except for the WS/WB, LP and DW cashew nuts.

In which, the good growth of W320 cashew nuts has largely contributed to the overall growth of the industry, accounting for 41% of the country’s total volume and 46.2% of the country's total cashew export turnover.

Specifically, over 11 months of 2021, exports of W320 cashew nuts exceeded 218 thousand tons, worth USD 1.54 billion, increasing 10.2% in volume and 7.6% in value compared to the same session of 2020.

Markets for W320 cashew nuts export include up to 90 countries and regions. Of which, the traditional export markets are the US, EU, China, Canada, Australia, UK, Turkey, Russia.

Over 11 months of 2021, exports of W320 cashew nuts to most traditional markets showed positive growth. Notably, W320 cashew nut exports to Russia increased by 96.6%; export to the United Arab Emirates increased by 162.5%; export to Iran increased by 311.3%; export to Finland increased by 398.7%.