Vietnam: Cashew Nut Market 2024

Cashew Nut Market Size in Vietnam

The Vietnamese cashew nut market contracted notably to $X in 2022, declining by X% against the previous year. Overall, consumption, however, continues to indicate a resilient expansion. As a result, consumption attained the peak level of $X, and then fell remarkably in the following year.

Cashew Nut Production in Vietnam

In value terms, cashew nut production rose markedly to $X in 2022 estimated in export price. In general, production, however, showed prominent growth. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Cashew nut production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

In 2022, the average yield of cashew nuts in Vietnam contracted modestly to X tons per ha, with a decrease of X% against the year before. Over the period under review, the yield indicated perceptible growth from 2012 to 2022: its figure increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cashew nut yield increased by X% against 2017 indices. The growth pace was the most rapid in 2015 with an increase of X%. Over the period under review, the average cashew nut yield hit record highs at X tons per ha in 2021, and then fell in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of cashew nuts production in Vietnam dropped to X ha, shrinking by X% compared with 2021 figures. Overall, the harvested area saw a slight descent. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, the harvested area dedicated to cashew nut production reached the maximum at X ha in 2012; however, from 2013 to 2022, the harvested area failed to regain momentum.

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Cashew Nut Exports

Exports from Vietnam

In 2022, the amount of cashew nuts exported from Vietnam soared to X tons, surging by X% against the previous year's figure. Overall, exports continue to indicate a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, cashew nut exports surged to $X in 2022. Over the period under review, exports enjoyed a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons) was the main destination for cashew nut exports from Vietnam, with a X% share of total exports. Moreover, cashew nut exports to China exceeded the volume sent to the second major destination, India (X tons), fourfold.

From 2012 to 2022, the average annual growth rate of volume to China totaled X%.

In value terms, China ($X) remains the key foreign market for cashew nuts exports from Vietnam, comprising X% of total exports. The second position in the ranking was held by India ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at X%.

Export Prices by Country

The average cashew nut export price stood at $X per ton in 2022, reducing by X% against the previous year. In general, the export price recorded a perceptible decrease. The most prominent rate of growth was recorded in 2013 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to China totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (X%), while the prices for the other major destinations experienced a decline.

Cashew Nut Imports

Imports into Vietnam

In 2022, the amount of cashew nuts imported into Vietnam contracted dramatically to X tons, with a decrease of X% on 2021 figures. Over the period under review, imports, however, recorded a strong expansion. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons, and then fell sharply in the following year.

In value terms, cashew nut imports reduced rapidly to $X in 2022. In general, imports, however, saw a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of $X, and then shrank markedly in the following year.

Imports by Country

Cambodia (X tons), Cote d'Ivoire (X tons) and Ghana (X tons) were the main suppliers of cashew nut imports to Vietnam, with a combined X% share of total imports. Nigeria, Tanzania, Togo and Indonesia lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Togo (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cashew nut suppliers to Vietnam were Cambodia ($X), Cote d'Ivoire ($X) and Ghana ($X), together comprising X% of total imports. Tanzania, Nigeria, Indonesia and Togo lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Togo, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average cashew nut import price stood at $X per ton in 2022, waning by X% against the previous year. Overall, import price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cashew nut import price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2016 when the average import price increased by X%. The import price peaked at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Cambodia ($X per ton) and Tanzania ($X per ton), while the price for Togo ($X per ton) and Nigeria ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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