US, Russia and China: The price of cashews has not decreased, why are businesses advised to be careful?

Published 2021년 9월 24일

Tridge summary

Vietnam's cashew exports have seen a significant increase in the first eight months of 2021, reaching 375,000 tons valued at over 2.3 billion USD, marking an 18% increase in volume and a 15.5% increase in export turnover compared to the same period in 2020. The average export price of cashew nuts was 6,120 USD/ton. Despite the Covid-19 pandemic, the export price of cashew in August remained stable at 6,634/ton. The Vietnam Cashew Association (VINACAS) anticipates continued growth in exports to the US, EU, and China, but advises businesses to be cautious with raw cashew nut purchases and inventory management. Russia is also increasing its cashew nut imports to meet domestic demand, with Vietnam being the leading supplier despite competition from Belarus. The Russian market is important for Vietnamese cashew exporters, and the Import-Export Department suggests that exporters should focus on product quality, payment terms, and building strong links with producing households to improve export competitiveness.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to statistics of the General Department of Customs, cashew exports in the first eight months of 2021 reached 375,000 tons, worth more than 2.3 billion USD, up 18% in volume and 15.5% in export turnover over the same period last year. In 2020, cashew prices are also stable. Notably, despite the impact of the Covid-19 epidemic, the export price of cashew in August still reached USD 6,634/ton, not much changed compared to July but increased by 13.5% in the same period of 2020. In general, in the first eight months of 2021, the average export price of cashew nuts reached 6,120 USD/ton. The report of the Import-Export Department (Ministry of Industry and Trade) shows that Vietnam's exports of most types of cashew nuts have positive growth compared to the same period in 2020. According to statistics from the General Department of Customs, Vietnam's W320 cashew nut exports in the first 7 months of 2021 reached approximately 131,500 tons, worth US$906.91 million, up 16.1% in ...
Source: Danviet

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