Rubber and cashew nut exports increase sharply

China continued to increase rubber imports from Vietnam. France reduced cashew nut imports from other markets but increased imports from Vietnam.

France is considered as a potential market for Vietnamese cashew nut

Rubber export in the first six months of 2021 reached US$1.15 billion

The Export-Import Agency under the Ministry of Industry and Trade (MoIT) estimated that in June 2021, Vietnamese rubber exports reached almost 130,000 tons worth US$221 million, up 57.1% in volume and 54.2% in value compared to May 2021, but down 4.7% in volume and up 36.1% in value over the same period last year. Average rubber export price in June 2021 stood at US$1,700 per ton, a drop of 1.9% compared to May 2021 but a increase of 42.8% compared to June 2020. Six-month cumulative export volume reached about 681,000 tons worth US$1.15 billion, up 41.3% in volume and up 19.9% in value compared to the same period of 2020.

The Export-Import Agency cited statistics of the General Administration of Customs of China, in the first five months of 2021; Chinese rubber imports reached US$5.14 billion, up 29.8% compared to the same period last year. Thailand, Vietnam, Malaysia, Japan and Indonesia were the five largest rubber suppliers to the Chinese market.  In the same period, Vietnam became the second largest rubber supplier to this market with a value of US$770,1 million, an increase of 77.3% compared to the same period last year. In the first five months of 2021, Vietnam's rubber market share in China's total import value accounted for 15% compared to 10.9% of the same period of 2020.

In the first five months of 2021, China's natural rubber imports reached US$1.49 billion, up 49.5% cover the same period last year. China mainly imported natural rubber from Thailand, Malaysia, Indonesia, Ivory Coast and Vietnam.  In the first five months of this year, Vietnam became the fifth largest natural rubber supplier to the Chinese market, reaching US$88.37 million, up 112.1% compared to the same period of 2020. Vietnam's natural rubber market share accounted 5.9% in the total rubber imports of the Chinese market, up 4.2%  compared to the first five months of 2020.

In the first five months of 2021, imports of mixtures of natural and synthetic rubber of China reached USS$2 million, an increase of 11.5% compared to the same period of 2020. Thailand, Vietnam, Malaysia, Myanmar and Indonesia were in the top five suppliers of mixtures of natural and synthetic rubber to the Chinese market.

In the first five months of 2021, Vietnam is the second largest supplier of mixtures of natural and synthetic rubber to China, reaching US$677.28 million, up 74.6% over the same period last year. Vietnam's market share of mixtures of natural and synthetic rubber accounted for 33.8% in China's total import of this type of rubber, higher than 21.6% of the first five months of 2020.

Vietnamese cashew nuts welcomed in the French market.

According to the International Trade Center, France imported 4,200 tons of cashew nuts in the first quarter of 2021, worth US$32.97 billion, up 20.5% in volumes and 12% in value compared to the same period last year.

In the first quarter of 2021, France reduced cashew nut imports from many suppliers but increased sharply imports from Vietnam and Netherland. Accordingly, France imported 2,930 tons of cashew nuts from Vietnam, worth approximately US$22 million, up 42.4% in volume and 28.0% in value compared to the first quarter of 2020. Vietnam's cashew nuts made up 63.35% market share in France in the first quarter of 2021 compared to 58.70% in the same period last year.

In the first quarter of 2021, France's average cashew nut import price stood at US$7,800 per tons, a drop of 7.1% compared to the same period last year. Particularly, France's cashew nut import price decreased for the markets such as Vietnam, Germany, and Brazil but increased for India and Netherland.

Cashew nuts are a popular snack in France and increasingly used as an ingredient in nut-based beverages such as no added sugar cashew milk or snack. The Export-Import Agency assessed that France is considered as a potential market for Vietnam's cashew nuts. Demand for cashew nuts in this market is projected to grow in the coming time.