Vietnam’s cashew nut exports saw encouraging growth this year despite COVID-19-induced restrictions, shipping container shortage and rising logistics costs, statistics of the General Department of Vietnam Customs show.
The country exported 577,400 tonnes of cashew nut for US$3.63 billion in 2021, up 13% and 12%, respectively, against the previous year.
According to the Ministry of Industry and Trade’s Agency of Foreign Trade, export price of Vietnamese cashew nut averaged US$6,500 per tonne in November and December, a 0.2% increase from the same period last year, as the product has been in high demand in the US, Europe, China and others during the final quarter of the year with the festive season approaching.
The US remained Vietnam’s biggest buyer, accounting for nearly 30% of total exports. It was followed by the Europe and China with a market share of 24% and 14%, respectively, according to the Vietnam Cashew Association (VINACAS).