Vietnam: Exports decrease, cashew industry faces many challenges

Published 2022년 6월 26일

Tridge summary

The Vietnam Cashew Association (VINACAS) reported a decrease in both the export volume and value of cashew kernels in the first half of 2022, alongside a significant drop in the import volume and value of raw cashew nuts. This is due to high raw material prices, low selling prices, and issues with logistics and empty containers. The industry faces challenges such as the Russia-Ukraine conflict, inflation, and Vietnam's zero COVID policy, leading to a proposed reduction in export sales targets for the year. Additionally, concerns have been raised about the quality assurance of the cashew industry.

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

Original content

This is the content that the Vietnam Cashew Association (VINACAS) informed at the Conference on preliminary review of the cashew industry in the first 6 months of 2022 taking place on the afternoon of June 25 in Ho Chi Minh City. VINACAS statistics show that in the first 5 months of 2022, the whole industry has exported 206,112 tons of cashew kernels of all kinds, export turnover reached over 1.19 billion USD, down 7.81% in volume. , and down 6.81 in value. The average export price reached about 5,792 USD/ton, up 1.45% over the same period in 2021. Regarding imports, in the first 5 months of 2022, enterprises in the cashew industry imported about 968,000 tons of raw cashew nuts from abroad. worth nearly $1.4 billion, down 35.24% in volume and 37.84% in value. However, if we consider the price of raw cashew imports from Africa from the beginning of the crop to now, it has increased by 15-20% over the same period. Meanwhile, about the unfavorable cashew harvest in 2022 in Vietnam ...

Source: Vinacas