May 7, 2024 | 03:26 GMT +7
May 7, 2024 | 03:26 GMT +7
Hotline: 0913.378.918
According to statistics from the US International Trade Commission, the country's cashew imports in 2020 reached 167,100 tons, worth US$ 1.08 billion, up 7.9% in volume, but down 8.5% in value compared to 2019.
The US’s average import price for cashew nuts in 2020 reached US$ 6,477/ton, 15.2% lower compared to 2019. Specifically, the US’s average import price for cashew nuts was reduced in almost every supply market.
In 2020, the US reduced importation from Brazil, India and Indonesia. In particular, America’s cashew imports from Brazil only amounted to 4,510 tons, valued at US$ 30.17 million, down 25.6% in volume and 37.5% in value compared to 2019; cashew imports from Indonesia reached 3,449 tons, valued at US$ 21.36 million, down 5.6% in volume and 24.6% in value; cashew imports from India reached 2,472 tons, valued at US$ 19 million, down 45.9% in volume and 48% in value.
On the other hand, the US increases the importation of cashew from Vietnam. The US’s cashew imports from Vietnam in 2020 reached 149,270 tons, valued at US$ 963.13 million, up 12.5% in volume, but 4.2% in value compared to 2019.
With the following import volume and value, the US continued to be the largest market for Vietnamese cashew nuts in 2020, occupied 31% in volume and 31% in value.
Vietnam started to export cashew to America in the mid-1990s. Thenceforth, the US has always been an important market for Vietnamese cashew nuts and has become the biggest market for many years.
The US is the only market so far that Vietnam’s cashew exports reach more than 100,000 tons/year and over US$ 1 million/year. Since 2015, cashew imports from Vietnam to America have reached 100,000 tons and have maintained at 100,000 tons a year continuously.
From 2017 to 2019, Vietnam’s cashew export value is always above US$ 1 billion/year. Notably, 2017 was the highest year, with US$ 1.219 billion. In the past few years, the price of cashew nuts on the world market always tends to decrease, so the value of Vietnam’s cashew exports to the US gradually decreased and lost the US$ 1 billion mark in 2020, even though the volume tends to increase all the time.
Translated by Samuel Pham
(VAN) With China's increasing demand, Vietnam boosts exports and wants to bring cashew nuts deeper into this market.
(VAN) Australia is set to import fresh pomelos, under the condition that Vietnam meets biosecurity standards and implement appropriate risk mitigation measures.
(VAN) More than 500 international buyers registered for trade connections, finding sources of agricultural products, food, wooden furniture, etc. at the Vietnamese Typical Goods Fair 2024.
(VAN) Enterprises and localities need further information on market orientation, analysis, market demands, and pricing in order to effectively plan their rice export strategy in the near future.
(VAN) Ben Tre strives to reach 20,000 hectares of organic coconut in the whole province by 2025 and promotes fresh coconut exports to the US market.
(VAN) Enterprises, cooperatives, and shrimp farmers in Phu Yen are supported and guided towards exporting lobsters through official channels to China.
(VAN) According to the 'Go Global' strategy, Masan Consumer aims to achieve 10-20% of revenue from the global market, bringing Vietnamese brands to the world.