China reduces cashew nut imports from Vietnamese market
VOV.VN - Vietnam’s cashew nut market share as part of China's total imports declined from 96.52% during the initial four months of 2021 to 82.16% during the same period this year, according to statistics compiled by China Customs.
The country represents the largest provider of cashew nuts to the Chinese market, with turnover reaching US$19.71 million in April, a rise of 96.2% compared to April, 2021.
Chinese cashew nut imports from the Vietnamese market during the four-month period surged 21.3% to reach US$45.57 million against the same period last year.
Industry insiders pointed out that the Vietnamese cashew sector is currently facing fierce competition from Myanmar in the Chinese market.
Specifically, China moved to sharply increase its cashew nut imports from Myanmar, with turnover reaching US$7.99 million during the four-month period, thereby making up 14.41% of the northern neighbour’s total imports
According to details given by China Customs, their cashew imports in April alone recorded a sharp increase, with turnover reaching US$21.56 million, up 112.6% compared to April, 2021.
In the first four months of the year, China's cashew imports reached US$55.45 million, up 42.5% against the same period from last year.
Throughout the opening five months of the year, the nation exported 208,000 tonnes of cashew nut exports worth US$1.24 billion, a fall of 3.2% in volume and 2.9% in value against the same period last year, according to the Ministry of Industry and Trade.
May alone witnessed the average export price of Vietnamese cashew nuts stand at US$6,000 per tonne, up 0.6% compared to April, but a fall of 2.3% compared to May, 2021.
During the five-month period, the average export price of Vietnamese cashew nuts stood at an estimated US$5,968 per tonne, up 0.3% against the same period from last year.
