Vietnam: Nuts Market 2024

Nuts Market Size in Vietnam

In 2022, the Vietnamese nuts market was finally on the rise to reach $X for the first time since 2017, thus ending a four-year declining trend. Overall, the total consumption indicated a resilient increase from 2012 to 2022: its value 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, consumption decreased by X% against 2017 indices. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Nuts Production in Vietnam

In value terms, nuts production amounted to $X in 2022 estimated in export price. Overall, production continues to indicate a pronounced setback. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

In 2022, the average nuts yield in Vietnam declined slightly to X tons per ha, which is down by X% against 2021. Over the period under review, the yield indicated noticeable growth 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 growth pace was the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, the average nuts yield attained the peak level at X tons per ha in 2021, and then reduced 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 reduced to X ha, with a decrease of X% on 2021. In general, the harvested area recorded a mild contraction. The most prominent rate of growth was recorded in 2021 when the harvested area increased by X%. The nuts harvested area peaked 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, exports of nuts from Vietnam fell remarkably to X tons, which is down by X% on the previous year's figure. Overall, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, nuts exports fell significantly to $X in 2022. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for nuts exports from Vietnam, accounting for a X% share of total exports. Moreover, nuts exports to the United States exceeded the volume sent to the second major destination, China (X tons), threefold. The third position in this ranking was taken by India (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and India (X% per year).

In value terms, the United States ($X) remains the key foreign market for nuts exports from Vietnam, comprising X% of total exports. The second position in the ranking was taken by Australia ($X), with a X% share of total exports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (X% per year) and China (X% per year).

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, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of X%. Over the period under review, the average export prices attained the maximum 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 external markets. In 2022, amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Kazakhstan ($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 Taiwan (Chinese) (X%), while the prices for the other major destinations experienced more modest paces of growth.

Nuts Imports

Imports into Vietnam

In 2022, supplies from abroad of nuts increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports showed strong growth. The pace of growth appeared the most rapid in 2013 with an increase of X%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, nuts imports reached $X in 2022. In general, imports recorded a strong expansion. The pace of growth was the most pronounced in 2016 with an increase of X%. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United Arab Emirates (X tons) was the main nuts supplier to Vietnam, accounting for a X% share of total imports. It was followed by the United States (X tons), with a X% share of total imports. The third position in this ranking was taken by Thailand (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United Arab Emirates stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Thailand (X% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of nuts to Vietnam, comprising X% of total imports. The second position in the ranking was taken by the United States ($X), with a X% share of total imports. It was followed by Hong Kong SAR, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United Arab Emirates totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Hong Kong SAR (X% per year).

Import Prices by Country

In 2022, the average nuts import price amounted to $X per ton, leveling off at the previous year. Overall, the import price, however, recorded a perceptible decline. The most prominent rate of growth was recorded in 2014 an increase of X%. The import price peaked at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :