Export effect of cashew nut kernel in Vietnam

Published 2022년 11월 22일

Tridge summary

Vietnam's leading cashew kernel export market has seen a significant decline due to high inflation and changes in business strategies by importers. The value and volume of exports have decreased across the board for the top five markets, the United States, China, the Netherlands, Germany, and Australia. This downturn is attributed to factors such as reduced purchases by importers, a stronger USD, high bank interest rates, and consumer spending cuts. Despite these challenges, the Vietnam Cashew Association remains optimistic, seeking to improve export quality and financial stability. Additionally, the association has identified cashew shell oil as a potential source of revenue, capable of generating 300-400 million USD annually, which could help offset losses from cashew kernel exports.

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

Original content

Cashew exports fell sharply; High inflation forced the cashew importers to change their business methods, they no longer buy cashew kernel reserves in large quantities but sell out to buy there. Output was difficult, making cashew kernel export enterprises facing financial difficulties; they had to lower the selling price to attract customers, resulting in a sharp decrease in the quantity and value of cashew exports in the first 10 months of the year. Currently, Vietnam is the leading country in processing and exporting cashew kernels, accounting for about 80% of the world's total output, so cashew exporters are looking forward to the signal of a better export market to ensure the quality of the cashew nut. margin guarantee. The top markets all fell sharply According to statistics of the General Department of Customs, the export of cashew kernels in October 2022 reached 44,308 tons, worth 265,669 million USD, up 15.6% in volume and up 13.4% in turnover compared to the previous ...

Source: Vinacas