Vietnamese cashew nuts are currently occupying a large proportion of the market share in the Turkish market.
NDO – Vietnamese cashew nuts are currently occupying a large proportion of the market share in the Turkish market, with a sharp increase in the import of the nut to Turkey in the first two months of 2021, accounting for 92.58% of Turkey’s total cashew nut imports in the first two months of this year.
According to the Import-Export Department under the Ministry of Industry and Trade, Turkey imported 762 tonnes of cashew nuts from Vietnam in 2016 and the volume climbed to 8,500 tonnes in 2020, resulting in an average growth rate of 88.1% per year.
Due to the COVID-19 pandemic, Turkey has been continuously implementing social distancing measures, forcing people to stay at home, which has pushed up demand for nut products including cashew nuts.
In the first two months of 2021, Turkey imported total 1,860 tonnes of cashew nuts at a total value of US$8.48 million, up 140.6% in volume and 108.8% in value compared to the same period in 2020.
Turkey increased its imports of cashew nuts from Vietnam but reduced its imports from Mozambique in the first two months of 2021.
The country imported 1,720 tonnes of cashew nuts from Vietnam at US$7.82 million in the first two months of this year, up 157.1% in terms of volume and up 122% in terms of value compared to the same period in 2020.
Thus, cashew nuts imports from Vietnam accounted for 92.58% of total Turkey’s cashew nuts imports in the first two months of this year, higher than the proportion of 86.65% in the first two months of 2020.
The domination of Vietnamese’s cashew nuts in the Turkish market is said to be the right direction amid the increasingly fierce competition in major markets in the EU.
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