Russia increases cashew imports from Vietnam

Vietnam’s cashew nuts have already accounted for the largest market share in Russia. Thanks to Russia’s increasing demand for the nut, Vietnam‘s cashew market share in this market continues to rise.

Russia promotes cashew imports from Vietnam. Photo: TL.

According to Russia’s Customs Service, in the first six months of 2021, the country increased cashew imports from Vietnam, Belarus while reducing imports from other suppliers.

During this period, Russia imported 4,870 tons of cashew nuts from Vietnam worth US$27 million, up 72% in volume and 29.2% in value compare to the same period in 2020.

Vietnam’s cashew nut market share in Russia’s total import rose from 50.28% in the first six months of 2020 to 57.68% in the same period in 2021.

Despite facing the competition from Belarus, Vietnam’s cashew industry has confirmed its position as the No.1 supplier of cashew nuts in Russian market thanks to stable supply and guaranteed quality.

Russia’s demand for cashew nuts tends to rise. In the first 6 months of 2021, Russia imported 8,450 tons of cashew nuts worth US$31.4 million, up 50% in volume, and 22.3% in value over the same period last year.