Cashew exports in Vietnam are expected to reach $ 3.2 billion in 2020

Published 2020년 10월 29일

Tridge summary

Vietnamese cashew exports in September saw a 10.3% increase in volume and a 12.6% increase in value compared to August 2020, and a 21.5% increase in volume and a 5% increase in value compared to September 2019. The first nine months of 2020 witnessed an 11.2% increase in volume but a 3.5% decrease in value compared to the same period in 2019, with a total of 365 thousand tons exported valued at $2.31 billion. The industry aims to reach an export target of 450,000 tons, worth $3.2 billion, by the end of the year. The average export price of cashew nuts in September was $5,957 per ton, up 2.1% from August 2020 but down 13.6% from September 2019. The market faces uncertainties due to potential COVID-19 pandemic risks in major consuming countries and the possibility of decreasing raw cashew nut supply prices in the coming months.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to statistics from the General Department of Customs, cashew exports in September increased by 10.3% in volume and 12.6% in value compared to August 2020, compared to September 2019, up 21.5 % in volume and 5% in value, reaching 51.3 thousand tons, worth $ 305.68 million. Generally, in the first 9 months of 2020, cashew nut exports increased by 11.2% in volume, but decreased by 3.5% in value over the same period in 2019, reaching approximately 365 thousand tons, worth $ 2.31 billion. . The Import and Export Department (Ministry of Industry and Trade) forecasts cashew exports will increase in the remaining months of this year. The export target of 450,000 tons, worth $ 3.2 billion, is set by the Vietnamese cashew industry in 2020 and is likely to reach the target. Demand increased due to seasonal factors from major export markets such as the US, EU, India, China. Besides, cashew nut price is expected to increase due to limited supply. Many small and medium cashew ...

Source: Vietnambiz