In the first two months this year, Vietnam’s cashew nut accounted for 92.58% of the total import volume of Turkey, much higher than that of the first two months of 2020. Vietnam’s cashew industry is dominating the Turkish market.
The Ministry of Industry and Trade’s Department of Exports and Imports cited statistics from the International Trade Center showing that Turkey’s cashew imports in the 2016-2020 period grew by an average of 20% per year, from 5,580 tons in 2016, to 9,300 tons in 2020. Of which, imports from Vietnam in the five years increased 88.1% per year, from 762 tons in 2016 to 8,500 tons in 2020.
In 2020, the complicated development of the COVID-19 epidemic caused Turkey to continuously implement social distancing measures, forcing people to stay at home, causing a sharp increase in demand for nut products such as cashews.
In Jan-Feb, Turkey imported 1,860 tons of cashew nut, valued at 8.48 million USD, up 140.6% in volume and 108.8% in value year on year. Average import price in the two months reached 4,556 USD per ton, down 13.2% year on year.
In the period, Turkey increased imports from Vietnam but decreased shipment from Mozambique. The market imported 1,720 tons of cashew nut from Vietnam, worth 7.82 million USD, up 157.1% in volume and 122% in value year on year./.