Vietnamese cashew nut exports hit hard by Coronavirus

The Coronavirus outbreak has severely affected Vietnamese cashew export activities in the first three months of 2020. China, the major cashew importer from Vietnam, underwent a countrywide lockdown and the consequent decreased demand from China lead to a surplus of cashew nuts in Vietnam. Even though the situation in China is now somewhat under control and China re-opened its borders, the export process has been slow as many Vietnamese wholesalers not operating at full capacity due to the COVID-19 pandemic. Furthermore, the recent lockdown on the European countries has raised the alarm for Vietnamese manufacturers who had to sell the remaining inventories in their warehouses and thus postponed the production of this product.