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  • China reduces imports of Vietnamese cashew nuts, increases imports from Cambodia and Myanmar 06/13/2022

    Jun 13th, 2022

    Vietnam's cashew exports are estimated at 208,000 tons, worth 1.24 billion USD; down 3.2% in volume and nearly 3% in value in the first 5 months of 2022 compared to the same period in 2021. One of the important reasons for the decline was that in the first months of the year, the inventories of importers were still quite good. On the other hand, transportation costs are too high while many countries reopen their economies, making many importers not in a hurry to sign new contracts. Another important factor is that many importers want to diversify their supply sources, reduce their dependence, and some traditional countries are Vietnam or India. Along with that is the rise in processing to be ready to replace Vietnam of some countries such as Cambodia , Myanmar or Ivory Coast... Specifically, according to data from Cambodia's Ministry of Agriculture, Forestry and Fisheries, in the first quarter of 2022, the country exported 272,000 tons of raw cashew nuts, down nearly 40%, most of which went to Vietnam. While Cambodia's processing exports reached 213 tons, up 312%. China is the country that buys the most processed cashew nuts from Cambodia with 123 tons, followed by Thailand 76 tons, Japan 12 tons... Not only Cambodia but also some other countries such as Myanmar, Ivory Coast... are also becoming emerging and mandatory competitors of the Vietnamese cashew industry to share market share in many countries. According to the General Administration of Customs of China , in April 2022, China spent 21.5 million USD to import cashew nuts, up 113% over the previous year. Accumulated in the first 4 months of 2022, China's cashew imports reached 55 million USD, up 42.5% over the same period in 2021. Vietnam's cashew nut market share in China's total imports decreased from 96.5% to 82% in 2022. Meanwhile, China sharply increased its cashew nut imports from Myanmar in the first 4 months of the year, cashew nut imports from Myanmar nearly reached 8 million USD. Myanmar's cashew nut market share accounts for 14.4% of China's total imports. Another market for Vietnamese cashews is France, in the first quarter of this year, Vietnam's market share also decreased from 69% to 64% over the same period last year. However, the total amount of French cashew imports reached 4,500 tons, equivalent to 34 million USD, up 5% in volume and 3% in value over the same period in 2021. France reduced cashew imports from Vietnam. but increased imports from India, Ivory Coast. Ivory Coast's share of total French imports increased from 0.3% to 9.1% in the first quarter of 2022. Due to tight output, many cashew processing enterprises have not dared to promote the import of raw cashew nuts . In the first 4 months of 2022, the whole country imported nearly 729,000 tons of cashew nuts, with a turnover of more than 1.1 billion USD, down 39% in volume and 42% in turnover compared to the same period in 2021.