Cashew businesses in Vietnam face new competitive pressure

Published 2023년 4월 10일

Tridge summary

Vietnam's cashew exports in March 2023 are estimated to reach 60,000 tons, valued at 355 million USD, marking a significant increase compared to the previous month and year. The first quarter of 2023 saw a total export volume of 122,000 tons, valued at 708 million USD. Despite the growth, the industry faces challenges such as declining export prices and competition. Meanwhile, China has shifted its cashew import focus towards Africa, and the European Union's cashew nut imports have increased in value despite a decrease in volume. Vietnam's cashew industry remains concerned about the potential negative impacts of importing semi-finished cashew products, including job loss and increased competition, as African businesses may eventually improve their production and technical quality.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to the Import-Export Department (Ministry of Industry and Trade), citing data from the General Department of Customs, it is estimated that Vietnam's cashew exports in March 2023 will reach 60,000 tons, worth 355 million USD, up 75% in terms of value. volume and 79.5% increase in value compared to February 2023, 50.4% increase in volume and 48.6% increase in value compared to March 2022. In the first quarter of 2023, Vietnam's cashew exports were estimated at 122 thousand tons, worth 708 million USD, up 16.6% in volume and 14.2% in value over the same period in 2022. In March 2023, the average export price of Vietnam's cashew nuts was estimated at 5,913 USD/ton, up 2.6% compared to February 2023, but down 1.2% compared to March 2022. Generally in the first quarter of 2023, the average export price of cashew nuts in our country is estimated at 5,826 USD/ton, down 2.1% compared to the same period in 2022. In the first quarter of 2023, most of the varieties were exported. ...
Source: Vinanet

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