Vietnam: Cashew kernel prices will hardly increase dramatically if the total supply of raw cashew nuts is still too large

This is the view shared by many cashew businesses at the cashew dialogue session, at the Vietnam International Cashew Conference 2024 on February 27. According to Mr. Vu Thai Son - Chairman of the Board of Directors of Long Son Joint Stock Company (HCMC), from 2018 to the end of 2023, the export price of cashew kernels decreased from 9 USD/kg to 5.8 USD/kg. Raw cashew prices also decreased, but decreased slowly and remained at a higher level than the cost of processed cashew kernels. Many businesses buy large quantities of raw cashew nuts from the beginning of the season for processing at a price of 1,100-1,200 USD/ton. But when sold, the price of cashew kernels is lower than the processing cost. The more a business processes, the more it exports. There are businesses importing raw cashew nuts that have signed a contract in advance and accept to drop the deposit to cut losses. There are businesses that have bought raw cashews from the beginning of the season (high prices) and ...