Vietnamese cashew nuts imported to Turkey increased considerably

According to the Vietnam Trade Office in Turkey, statistics from the Turkish Statistical Institute show that in January 2021, the total import volume of peeled cashew nuts into Turkey is 795.84 tons, a leap of 184.3% compared to the same period in 2020.

The import turnover of peeled cashew nuts into Turkey in January is approximately US$ 3.3 million, up 224.8% over the same period last year.

Vietnam is currently the leading country in terms of supplying peeled cashew nuts to Turkey, accounts for 87.9% market share turnover of cashew nuts imports into this country in the first month of this year with 728.6 tons, reaching nearly US$ 2.9 million.

In comparison with January 2020, cashew nuts imports of Vietnam to Turkey in January 2021 have increased immensely in volume (257.5%) and especially in turnover (534.1%). This shows that the price of Vietnamese cashew nuts imported to Turkey has significantly risen compared to early 2020.

As stated by the Vietnam Trade Office in Turkey, it was possibly because the Covid-19 pandemic maintains its complicated progress, which caused Turkey to continuously take social distancing measures along with nighttime curfew during the week and at weekend. This forced the citizens to stay at home, causing the demand for nuts products such as cashew nuts to increase recently.

Furthermore, the cost of sea freight being multiplied due to scarcity of empty containers and the incurred cost of epidemic prevention which goes along during the pandemic also increased the price of Vietnamese cashew nuts imported to Turkey.

In the first month of this year, 2 other countries, which are Mozambique and Guinea, have likewise exported cashew nuts into Turkey. Cashew import turnover of these two countries respectively accounted for 8.5% and 3.6% of the import share of Turkey.

The amount of cashew imported from African countries such as Mozambique has increased sharply in recent years, possibly due to the need to directly import unprocessed raw cashew to serve the domestic demand in Turkey.

Vietnam has been the largest cashew nuts exporter in the world from 2006 up until now, but for many years Turkey was almost not on the list of important markets of Vietnamese cashew nuts. Therefore, the fact that the import turnover of Vietnamese cashew nuts into Turkey has skyrocketed and occupied a big proportion of cashew imports has presented a chance for Vietnamese cashew nuts to penetrate deeper into this market.