BUSINESS Updated at 14:23:48 10/13/2021  (Views:  791 )
Vietnamese cashew nuts occupy ne

Vietnamese cashew nuts occupy nearly 90 percent of US market share

Vietnam's cashew nuts have accounted for approximately 90 percent of the US cashew imports in spite of fierce competition from other suppliers.

Processing cashew nuts for export (Photo: VNA).

The US imported over 97,000 tonnes of cashew nuts worth US$615.68 million during the first seven months of this year, an increase of 0.5 percent in volume and a drop of 6.1 percent in value compared with the same period last year, according to US International Trade Commission.

The volume of imports from most main suppliers increased, but the growth of imports from Vietnam was the lowest in the reviewed period. Specifically, the US imported 87,000 tonnes of cashew nuts worth US$545.88 million from Vietnam, up 0.7 percent in volume but down 6.4 percent in value compared to last year’s figure.

Strict social distancing measures and high freight costs caused by the fourth wave of COVID-19 have exerted a negative impact on Vietnamese cashew exports to the US.

However, the share of Vietnam's cashew nut in the US market during the first seventh month of 2021 rose slightly to 89.26 percent from 89.08 percent last year.

The country maintained its position as the number 1 cashew nut supplier of the US thanks to its stable supply and good quality.

Source: NDO

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