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  • Vietnamese cashews occupy an overwhelming position in the Japanese market 04/07/2023

    Apr 7th, 2023

    According to the Import-Export Department (Ministry of Industry and Trade), Vietnam has surpassed India to become the largest cashew exporter to the Japanese market. In 2022, Japan will import cashew nuts from 9 countries and territories around the world. In particular, India is the largest cashew nut exporting country to Japan. vietnamese study abroad program In 2023, cashew nut exports set a target of $3.1 billion, only an increase of $30 million compared to 2022 However, in January, Vietnam overtook India to become the largest cashew exporter to Japan. Specifically, Vietnam's cashew exports to Japan reached 705 tons, worth 4.47 million USD, up 89.5% in volume and 71.8% in value compared to January 2022. In particular, Vietnam's cashew nut market share in Japan's total imports increased from 35.59% in January 2022 to 65.53% in January this year. Along with the trend of increasing cashew nut imports from Vietnam, Japan reduced cashew nut imports from India. Specifically, in January this year, cashew nut imports from India to Japan decreased by 49.2% in volume and 53.3% in value over the same period in 2022, when it reached only 330 tons, worth only 330 tons. $2.63 million. India's cashew nut market share in Japan's total imports decreased from 62.25% in January 2022 to 30.7% in January this year. The Vietnam Trade Office in Japan said that at Foodex Japan 2023 - the largest-scale specialized exhibition of food and beverage in Japan taking place in March, many cashew nut products were attracted. special attention of Japanese businesses and consumers. This is also the reason why many Japanese businesses are promoting the import of cashew nuts and products processed from Vietnam. Regarding the cashew export situation in general, according to the Import-Export Department, it is estimated that Vietnam's cashew exports in March reached 60,000 tons, worth 355 million USD, up 75% in volume and 79.5% in value over the same period in 2022. Accumulated statistics in the first 3 months of the year, Vietnam's cashew exports are estimated at 122,000 tons, worth 708 million USD, up 16.6% in volume and 14.2% in value over the same period in 2022. According to information from the Vietnam Cashew Association, Vietnam's cashew exports have continuously held the No. 1 position in the world for the past 16 years. Statistics from the General Department of Customs (Ministry of Finance) show that in 2022, Vietnam's export value will reach 3.07 billion USD; The US and China are the two largest cashew nut export markets of Vietnam. The Vietnam Cashew Association forecasts that the cashew nut export situation this year will face many difficulties in the context of the global economy's inflation and decreasing purchasing power. Accordingly, the Vietnam Cashew Association has set a target to export cashew nuts worth 3.1 billion USD, an increase of only 30 million USD compared to 2022.