Cashew Nuts Market - Vietnam Jan. 2023

> The EU imported 8670 tonnes of Vietnamese cashews in January 2023 according to data from Eurostat, a decrease of 21 compared to January 2022 down 6 on the five year average Despite this figure being lower than in previous years, especially in 2022 and 2020 imports prior to 2019 came in below this level (January 2019: 8,190 tonnes, 2018: 6,678 tonnes, 2017 : 5,530 tonnes)

-> In the 2022 calendar year, the EU imported 115,158 tonnes of cashews from Vietnam, a decline of 4% compared to the previous campaign, but up 13% compared to the five year average. However, there was a notable slowdown in imports in Q4 2022, with the imported volume down 13% during the period, at 26,300 tonnes

-> Similarly, the US imported fewer cashews in January 2023, with imports amounting to 9,947 tonnes during the month, down 16% y-o-y, representing a decline of 6% on the five year average Imports during the whole of 2022 reached 131,400 tonnes, down 19% y-o-y, a decrease of 7% on the five year average.

-> Vietnam exported 34,300 tonnes of cashews in February 2023 an increase of 26% m-o-m and also up significantly compared to February 2022 according to the Vietnamese Department of Customs In the first two months of 2023 the country exported 61,200 tonnes of cashews, a decline of about 5% compared to the same period last year.

-> As mentioned earlier in this report, most of the demand has been for prompt shipments (FOB Vietnam or key destination markets) with little interest from buyers to buy far forward, according to market participants has heard of strong demand from the Middle East for larger sized nuts.

Souce: Marketing AFRGO 2023