The complicated developments of the Covid-19 epidemic around the world in recent times have greatly changed the needs of consumers. Consumers are more concerned about health, making the global demand for cashew nuts increase. Based on that, Vietnam expects cashew nut exports to set a new record in 2022. Rising coffee demand makes Asia become the center of the world. Vietnamese coffee exports to Germany will increase thanks to EVFTA.
Global cashew consumption increases thanks to the trend of using healthy food
The demand for healthy foods in the context of Covid-19 is promoting cashew nut consumption globally.
– Cashew nuts are one of the foods that are favored by consumers thanks to their health benefits. According to Mordor Intelligence, the global cashew nut market is forecast to achieve an average growth rate of 4.6% in the period 2021 – 2026.
– The low price of cashew nuts in 2021 is contributing to boosting the global demand for cashew nut consumption. In 2021, the retail price of cashew nuts in Europe decrease, which has boosted the demand for cashew nuts in the region.
– Due to social distancing measures, consumption in food service decreased significantly. There was a sharp shift in cashew consumption from eating out to eating at home. Besides, the trend of interest in healthy food and attractive prices has boosted the total consumption of cashew nuts.
– Statistics show that cashew nut imports from the US, China, UK, France and Japan markets all have positive growth in 2021 compared to 2020. Vietnam continues to play the role of the world’s number 1 cashew nut export market.
Vietnam expects cashew nut exports to set a new record in 2022
The world’s demand for cashew nut consumption in recent years has been constantly increasing, despite the Covid-19 pandemic. With the success in 2021, the Vietnamese cashew nuts industry has more expectations in 2022.
– Vietnam is the leading cashew exporter in the world. 2021 is considered a successful year for Vietnam’s cashew exports, with exports reaching 579,800 tons, worth 3.64 billion USD, up 12.6% in volume and 13.3% in value compared to 2020.
– The export rate of cashew nuts to Africa increased by 35.2%; to Asia increased by 24%,… In the European region, after the US, the EU is currently the second largest cashew nut export market of Vietnam. The US market accounting for 23% of the total volume and 22% of the total export value of the whole industry. Vietnam’s cashew exports now have a market share in 23 EU member markets. Germany and the Netherlands are currently important trade hubs.
– Besides the EU, cashew nut exports to China also have many growth prospects. According to a report by the Ministry of Industry and Trade, Vietnam’s cashew nut market share in China’s total import value accounted for about 89% by 2021.
– It is forecast that in 2022, Vietnam’s cashew nut exports will continue to grow positively thanks to global consumer tastes. The Ministry of Agriculture and Rural Development has set a target that by 2022, cashew kernel exports will reach $3.8 billion, an increase of $200 million compared to 2021.
Coffee revolution: Asia coffee becomes the center of the world
Coffee is a popular beverage worldwide. However, in recent times, the level of coffee consumption in Asia has increased by 1.5%. It higher than the increase in both Europe and the US, making this region tend to become the center of the coffee world.
– Traditionally a tea-drinking region, Asia coffee increasing consumption is largely due to the rise of a growing middle class that wants to enjoy the trendy beverage.
– In many parts of Asia deeply ingrained in the history of the countries as in the case of Vietnam with France and Indonesia with the Netherlands…
– Currently, Asia produces 29% of the world’s coffee beans, but this region (including Oceania) consumes only 22% of them.
– In South Korea, coffee shops have become an integral part of the social ecosystem. This Korean coffee import reached $916 million last year, up from $738 million in 2020 and $662 million in 2019.
– Experts predict that coffee will become more and more ingrained in Asian societies. Over time, Asian consumers are pursuing more things for their lifestyle, including increasing coffee consumption.
Vietnamese coffee exports to Germany will increase thanks to EVFTA
In 2021, Vietnam’s coffee exports to Germany tend to decrease because of the complicated developments of the Covid-19 pandemic. However, to improve the situation of world trade, many trade promotion programs are organized, especially the EVFTA agreement, which will help the situation of Vietnam’s coffee exports to the German market more optimistically.
– Statistics from the ITC show that, in the 10 months of 2021, Germany increased its imports of HS 090111 coffee (except for roasted and decaffeinated coffee). It is a growth rate of 0.3% in terms of exports volume. It increased 13.8% in value over the same period in 2020, reaching 940.16 thousand tons, worth 2.61 billion USD.
– Vietnam’s coffee market share in Germany’s total imports decreased from 20.42% in 10 months of 2020 to 17.05% in 10 months of 2021. The complicated development of the Covid-19 pandemic is the reason why Vietnam’s coffee exports to Germany face difficulties.
– Germany is a large coffee-consuming market in Europe, with high demand. Arabica coffee is the fastest-growing segment and improving in the period 2020-2025 as people’s consumer tastes increasingly prefer specialty coffee.
– Germany is also one of the major importers of green coffee in the world. In addition to serving the consumption demand in the domestic market, Germany is also Europe’s third-largest coffee export market. Therefore, Germany is a great potential market for coffee-producing countries.
– In 2022, the coffee trade between Vietnam and Germany is forecasted to be active again. EVFTA will help the Vietnamese coffee industry boost exports to the German market.
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