Vietnamese cashews account for approximately 90% of the market share in the US
Despite strong competition from some other suppliers, Vietnam's cashew nuts still increased slightly in market share in the US and accounted for approximately 90%.
According to the International Trade Commission (USA), in the first seven months of 2021, the US imported approximately 97,000 tons of cashew nuts, worth US$615 million, up 0.5% in volume, but down 6.1% in value. prices compared to the same period in 2020.
In the first seven months of 2021, the US increased the volume of cashew imports from most of the main sources, but the increase from Vietnam was the lowest.
US cashew imports from Vietnam in the first seven months of 2021 reached 87,000 tons, worth US$545 million, up 0.7% in volume, but down 6.4% in value over the same period in 2020.
Due to the complicated development of the Covid-19 epidemic, Vietnam has to apply strict social distancing measures on a large and prolonged basis. In addition, the high freight rates have negatively affected the export of Vietnamese cashews to the US.
In addition, Vietnam's cashew nuts are still subject to competition from the Ivory Coast and Nigerian markets, but the share of Vietnam's cashew nuts in total US imports still increased slightly from 89.08% in 7 months of 2020 to 89 .26% in 7 months 2021.
This shows that the Vietnamese cashew industry still asserts its position as the number 1 supplier in the US thanks to its stable supply and guaranteed quality.
Source: Vietnam's agriculture