Vietnam. Peanut Annual. Apr 2015 May 27, 2015

Production:

According to GSO statistics, Vietnam's peanut production dropped by 7.6 percent in MY 2013/14 to 455 TMT from 492 TMT in MY2012/13. This drop was due to smaller planted area compared to the previous MY.

In MY 2014/15, Post expects growing area to increase to 215 thousand ha and production to increase about 4 percent to 473 TMT. Favorable weather and variety improvement will boost yield and production. In 2015/16, Post forecasts peanut production will continue to increase, to 484 TMT, as peanut cultivated area continues to expand. The peanut planting area is focused in the North Central coast, mountainous and midland areas in the North, and the South Central Coast.

Vietnam's Peanut production

Consumption:

Post estimates that 680 TMT of peanuts (in-shell basis) were consumed domestically in Vietnam in MY 2013/14. In MY 2014/15 and MY 2015/16, Post estimates peanut consumption at 690 TMT and 720 TMT, respectively. The majority of peanuts, locally produced and imported, are used in the snack and confectionery industries with a small amount used in-shell for household consumption, extruded for cooking oil, or exported.

Trade:

Imports

Vietnam's total peanut imports (in-shell equivalent) were 217 TMT in MY 2013/14, an increase of 15 percent over the year before. Both in-shell and shelled imports, mainly from the, India, Senegal, Argentina, China, Paraguay and United States, are used by the snack food industry in Vietnam. Post forecasts imports to be 250 TMT (in-shell basis) in MY 2014/15, and increase slightly to 280 TMT in MY 2015/16.

In-shell peanut imports by source

Source: GCO, GTA; * Note: In-shell peanuts: HS code 120210; and 120241

Shelled peanut imports by source

Source: GCO, GTA; * Note: Shelled peanuts include HS code 120220, 120242 and 200811;

Conversion rate: 1.33

Exports

In MY 2013/14, Vietnam exported a small quantity (2.2 TMT) of in-shell and shelled peanuts, mainly to Thailand, Taiwan and Russia. This is a significant drop of 66 percent from the year before due to much smaller demand from Thailand market to compare with the previous year. Post forecasts that peanut exports will remain at the same level or increase slightly in MY 2014/15 and MY 2015/16.

Vietnam's peanut exports

Source: GTA, *Post estimates; Note: Peanuts are in in-shell basis, including in-shell peanut (HS code 120210; 120241) and shelled peanuts (HS code 120220; 120242)

Import Tariffs

The tariff rate applied to both in-shell and shelled peanuts (HS Codes: 120241, 120220, and 120242) imported from countries having Most Favored Nation (MFN) status with Vietnam remains 10 percent;

Peanut import tariffs (%)

Vietnam's Production, Supply & Demand Table for Peanuts*

Source: GCO, GTA, Post estimates; *Note: Peanuts are in in-shell basis, including in-shell peanut (HS code 120210; 120241) and shelled peanuts (HS code 120220; 120242 and 200811 –excluding peanut butter)

Vietnam's Peanut* Import Matrix

Source: GTA *Note: Peanuts are in in-shell basis, including in-shell peanut

(HS code 120210; 120241) and shelled peanuts (HS code 120220; 120242 and 200811).

Vietnam's Peanut* Export Matrix

Source: GTA; *Note: Peanuts are in in-shell basis, including in-shell peanut

(HS code 120210; and 120241) and shelled peanuts (HS code 120220; and 120242)