Vietnam's cashew export price rises by nearly 20%, and the price increase trend may continue

Published 2024년 11월 12일

Tridge summary

Vietnam saw a slight decrease in cashew nut exports in September, but the value increased compared to the previous month and remained high year-on-year. The first nine months of 2024 saw a significant increase in both volume and value of cashew exports compared to the same period last year. The United States, Netherlands, United Arab Emirates, United Kingdom, and Canada were the top buyers, while exports to China, Germany, Australia, Saudi Arabia, and Spain decreased. Vietnam exported mainly W320, W240, and W180 cashew grades, with W320 accounting for a significant share in both volume and value. Factors such as increased demand, lower imports of raw cashews, high production costs, and geopolitical tensions have led to a significant increase in cashew prices, with the price of Vietnamese and Indian cashews reaching $8,015/ton in October.

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

Original content

According to data from the General Department of Vietnam Customs, Vietnam exported more than 57,000 tons of cashew nuts in September, with a value of US$372.16 million. The export volume decreased by 11.6%, but the export value increased by 8.9% compared with August. Compared with September 2023, the export volume increased by 0.6% and the export value increased by 20.2%. Overall, in the first nine months of this year, Vietnam's cashew exports reached 5.435 million tons, with an export value of US$3.15 billion. Compared with the same period last year, the export volume increased by 20.1% and the export value increased by 21.7%. It is expected that in the last few months of this year, cashew exports will increase significantly due to cyclical factors, and export prices will also maintain an upward trend. Compared with the same period last year, Vietnam's cashew exports to the United States, the Netherlands, the United Arab Emirates, the United Kingdom and Canada increased in ...

Source: Foodmate