The United States - the largest market for cashew nut consumption in Vietnam
(22/05/2017) The United States - the largest market for cashew nut consumption in Vietnam
Vietnamese cashew nuts were exported to the US market, accounting for over 35% of the total cashew nut export turnover of the country, estimated as USD 278.8 million.
According to preliminary statistics of the General Department of Customs, in April 2017, the country exported 28,380 tons of cashew nuts, earning 273.8 million USD (17% increase in volume and 19% increase in turnover compared with Last month); increasing the total cashew nut exported in the first 4 months of 2017 to 83,856 tons , equivalent to $ 788.8 million (7.2% reduction in volume but 14.7% rise in turnover compared to the same period in 2016).
Cashew nut exported price in the first three months of 2017 reached USD 9,279 per ton, increase by 22.6% over the same period in 2016.
Vietnamese cashew nuts were exported to the US market, accounting for over 35% of the total cashew nut export turnover of the country, estimated as USD 278.8 million ( 23.8% increase compared to the same period of 2016). ).
Netherlands overtook China, rising to be the second largest market for cashew nut consumption in Vietnam, with $ 116.5 million (14.8% of the country's cashew nut exports), increase by 34 , 3% over the same period.
China ranked third in turnover, with $ 106.2 million ( accounting for 13.5%, and rising slightly by 0.2%).
In the first four months of this year, exports of cashew nuts to most markets increased in value compared to the same period last year; Of which growth was strong in some markets: Ukraine (+ 112.5%), India (+ 82%); Israel increased by 43.7%; Russia increased by 41.9%.
In contrast, cashew nut exports fell sharply in markets such as Greece, Philippines and Pakistan, reducing by 58.39%, 39% and 32% respectively of the turnover in comparision to the same period.
Although the US is the largest market for cashew nut consumption in Vietnam, the United States is increasingly tightening its imports of cashew nuts from Vietnam for food safety.
Recently, at the international customer conference Article 2017 held on May 16 in Binh Phuoc. Mr Vu Thai Son, Chairman of Long Son Joint Stock Company (the second largest exporter of cashew nuts in the world, behind Olam Group) said that due to concerns about food insecurity, US customers has refused to purchase cashew nuts from many Vietnamese factories after a direct inspection - this is the effect of the US Food Safety Modernization Act (FSMA), which takes effect from September 2016, for Vietnamese cashew industry.
"Understandably, the FSMA obliges US importers to take final accountability to consumers who can not blame themselves or" sell "the manufacturer as before. For importer’s protection, they intensify controls in the producing country, if the plant has a risk of food insecurity, they also do not buy even it is cheap.
Since then, these plants are forced to reduce prices or can not sell in high-priced market but low-priced market one, which significant reduce their efficiency . At the factory of Long Son Company, although very modern, there are still some places where the US inspection team requested to be repaired. After the company provides the evidence of improvement, then assessed as standard.
Preliminary statistics of the GDC on cashew nut export in the first 4 months of 2017
Unit: USD
|
Market
|
4T/2017
|
4T/2016
|
+/-(%) 4T/2017 Compared to the same Period
|
|
Total
|
788.838.879
|
688.050.911
|
+14,65
|
|
The United States
|
278.790.083
|
225.178.333
|
+23,81
|
|
Netherlands
|
116.483.038
|
86.709.186
|
+34,34
|
|
China
|
106.163.665
|
105.939.988
|
+0,21
|
|
Australia
|
34.706.706
|
30.620.052
|
+13,35
|
|
England
|
32.397.901
|
26.424.852
|
+22,60
|
|
Canada
|
23.446.035
|
25.255.512
|
-7,16
|
|
Thai
|
19.760.839
|
18.079.674
|
+9,30
|
|
Germany
|
18.951.842
|
22.065.502
|
-14,11
|
|
Israel
|
14.370.344
|
10.003.704
|
+43,65
|
|
India
|
11.632.346
|
6.386.443
|
+82,14
|
|
Russia
|
11.490.900
|
8.098.008
|
+41,90
|
|
United Arab Emirates
|
10.810.407
|
7.873.262
|
+37,31
|
|
Italy
|
9.967.013
|
8.865.425
|
+12,43
|
|
France
|
8.719.101
|
7.319.128
|
+19,13
|
|
New Zealand
|
7.220.547
|
5.546.150
|
+30,19
|
|
Spain
|
7.096.077
|
|
|
