Vietnam’s cashew dominates the Turkish market

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20 May 2021, Turkey: Vietnam’s cashew nut accounted for 92.58% of the total import volume of Turkey, much higher than in the first two months of 2020. Vietnam’s cashew is dominating the Turkish market.

In the first two months of the year, Turkey’s cashew imports reached 1.86 thousand tons, worth 8.48 million USD, up 140.6% in volume and 108.8% in value over the same period in 2020.

The Import-Export Department (Ministry of Industry and Trade) cited statistics from the International Trade Center showing that Turkey’s cashew imports in the 2016-2020 period grew by an average of 20% per year, from 5.58 thousand tons in 2016 to 9.3 thousand tons in 2020. Of which, Turkey’s cashew imports from Vietnam in the 2016-2020 period increased by 88.1% on average per year, from 762 tons in 2016 to 8.5 thousand tons in 2020.

In 2020, the complicated development of the Covid-19 pandemic caused Turkey to continuously implement social distancing measures, forcing people to stay at home, causing a sharp increase in demand for nut products such as cashews.

In the first two months of 2021, Turkey’s cashew imports reached 1.86 thousand tons, worth 8.48 million USD, up 140.6% in volume and 108.8% in value over the same period last year. The average import price of Turkey’s cashew nuts in the first two months of 2021 reached 4,556 USD/ton, down 13.2% over the same period in 2020. In which, the average import price of cashew nuts of Vietnam and Mozambique fell.

In the first two months of 2021, Turkey increased its imports of cashews from Vietnam, but decreased imports from Mozambique. Turkey’s cashew imports from Vietnam reached 1.72 thousand tons, worth 7.82 million USD in the first two months of 2021, up 157.1% in volume and 122% in value over the same period last year.

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