12 December 2021, China: The prospect of Vietnam’s cashew exports to Germany will be positive in 2022 thanks to the advantage of EVFTA. In the first nine months of this year, Vietnam’s cashew exports to German reached 28.23 thousand tons, worth 201 million USD.
The Import-Export Department (Ministry of Industry and Trade) said that Vietnam is still the number one source of cashew nuts in the German market thanks to its stable supply and guaranteed quality.
The prospect of Vietnam’s cashew exports to the German market will be positive in 2022 thanks to the advantage of the EU-Vietnam Free Trade Agreement (EVFTA).
In addition, the German’s increased demand for cashew imports will have a positive impact on Vietnam’s cashew industry.
Citing statistics from the International Trade Center (ITC), said that due to difficulties in transportation, in the first nine months of 2021, Germany imported 45,200 tons of cashew nuts, worth 324. 43 million USD, down 9.5% in volume and 14.1% in value over the same period in 2020.
In 9 months, the average import price of German cashew nuts reached 7,177 USD/ton, down 5.1% over the same period in 2020; in which, the average import price of German cashew nuts decreased from the markets of Vietnam, India and the Netherlands but increased from Indonesia and Ivory Coast.
Due to the impact of the COVID-19 pandemic, Germany reduced its imports of cashews from Vietnam, but the reduction in imports from Vietnam was still lower than the decrease in imports from the Indian and Dutch markets.
Specifically, in the first nine months of 2021, the volume of German cashews imported from Vietnam reached 28.23 thousand tons, worth 201.21 million USD, down 1.7% in volume and 7.0% in value compared to same period in 2020.
However, Vietnam’s cashew nut market share in Germany’s total imports still increased from 57.51% in the first nine months of 2020 to 62.46% in the same period in 2021.