More Japanese consumers prefer Vietnamese cashew nuts

Vietnamese cashew nuts (Source: nongnghiep.vn)

Tokyo (VNA) – More Japanese consumers prefer Vietnamese cashew nuts,reflected through an expansion of the market share of the product inthe country’s total import value.

According to the International Trade Centre (ITC), in thefirst five months of 2021, Japan's cashew nut imports reached 33.17 million USD,down 11.2 percent year-on-year.

Specifically, Japan sharply reduced the import of cashewnuts from India – its biggest exporter of the product, which resulted in adecrease of 22.8 percent, reaching 19.14 million USD.

On the other hand, Japan increased its imports from Vietnam withan increase of 4.5 percent and a total value of 12.92 million USD. Vietnam’scashew nut market share in the total import value of Japan accounted for 38.97percent during the January-May period, higher than the 33.09 percent of the first fivemonths of 2020.

It can be seen that Japanese consumers tend to graduallyswitch from consuming Indian cashew nuts to the similar product of Vietnam.

In 2020, Vietnam shipped over 6,500 tonnes of cashew nutsworth 42.5 million USD to Japan, up 83 percent in volume and 64.55 percent invalue year-on-year./.

VNA