Vietnam: Nuts Market 2024

Nuts Market Size in Vietnam

The Vietnamese nuts market dropped markedly to $X in 2022, waning by X% against the previous year. Overall, consumption, however, recorded a resilient expansion. As a result, consumption attained the peak level of $X, and then shrank rapidly in the following year.

Nuts Production in Vietnam

In value terms, nuts production expanded significantly to $X in 2022 estimated in export price. In general, production, however, posted a resilient expansion. The pace of growth was the most pronounced in 2013 when the production volume increased by X% against the previous year. Nuts production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

The average yield of nuts in Vietnam fell modestly to X tons per ha in 2022, waning by X% compared with the previous year. Over the period under review, the yield indicated a temperate increase from 2012 to 2022: its figure increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, nuts yield increased by X% against 2017 indices. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. The nuts yield peaked at X tons per ha in 2021, and then shrank modestly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of nuts production in Vietnam declined to X ha, which is down by X% compared with 2021 figures. Over the period under review, the harvested area showed a slight slump. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the harvested area dedicated to nuts production attained the maximum at X ha in 2012; however, from 2013 to 2022, the harvested area stood at a somewhat lower figure.

Nuts Exports

Exports from Vietnam

In 2022, shipments abroad of nuts increased by X% to X tons, rising for the second consecutive year after three years of decline. Overall, exports saw resilient growth. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, nuts exports expanded modestly to $X in 2022. Over the period under review, exports posted a buoyant expansion. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports by Country

China (X tons), the United States (X tons) and Australia (X tons) were the main destinations of nuts exports from Vietnam, together comprising X% of total exports. India, Taiwan (Chinese), Belgium, Malaysia and Hong Kong SAR lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belgium (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Australia ($X) constituted the largest markets for nuts exported from Vietnam worldwide, together comprising X% of total exports. Belgium, India, Malaysia, Taiwan (Chinese) and Hong Kong SAR lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Belgium, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average nuts export price amounted to $X per ton, dropping by X% against the previous year. Over the period under review, the export price, however, saw moderate growth. The pace of growth appeared the most rapid in 2016 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (X%), while the prices for the other major destinations experienced more modest paces of growth.

Nuts Imports

Imports into Vietnam

In 2022, the amount of nuts imported into Vietnam reduced remarkably to X tons, waning by X% against 2021 figures. In general, imports, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X tons, and then shrank dramatically in the following year.

In value terms, nuts imports shrank notably to $X in 2022. Overall, imports, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports reached the peak of $X, and then declined markedly in the following year.

Imports by Country

Cambodia (X tons), Cote d'Ivoire (X tons) and Ghana (X tons) were the main suppliers of nuts imports to Vietnam, with a combined X% share of total imports. Nigeria, Tanzania, Togo, Indonesia and Hong Kong SAR lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Tanzania (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest nuts suppliers to Vietnam were Cambodia ($X), Cote d'Ivoire ($X) and Ghana ($X), with a combined X% share of total imports. Tanzania, Nigeria, Indonesia, Togo and Hong Kong SAR lagged somewhat behind, together comprising a further X%.

Tanzania, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average nuts import price stood at $X per ton in 2022, almost unchanged from the previous year. Overall, import price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, nuts import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Cambodia ($X per ton) and Tanzania ($X per ton), while the price for Hong Kong SAR ($X per ton) and Togo ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tanzania (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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