Vinacas: The demand for cashew in the last months of 2020 is still a big question mark

Published 2020년 8월 20일

Tridge summary

The article highlights the mixed performance of Vietnam's cashew export industry in the first half of 2020, with volumetric growth but a decrease in average export prices due to the COVID-19 pandemic. The global cashew market faces uncertainties, with reduced demand and a forecast drop in supply. The situation is further complicated by fluctuations in domestic consumption, concerns over raw material quality, and the potential impact of the pandemic on production. Factors such as the behavior of large West African stockpiles and the recovery rates of cashews are key to the industry's outlook.

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

Original content

According to the Vietnam Cashew Association (Vinacas), although the cashew export situation of Vietnam in the first 6 months of 2020 is still good, it is necessary to consider how the situation will be due to the delayed effects from the COVID pandemic- 19. According to the estimate of the Import and Export Department (Ministry of Industry and Trade), the export of cashew nuts in the first 6 months of 2020 was estimated at 228 thousand tons, worth $ 1.5 billion, up 16.6% in volume and zero, 7% in value over the same period in 2019. However, the average export price of cashew nuts in the first 6 months of 2020, reached 6,579 USD / ton, down 13.6% over the same period in 2019. Pepper demand Global use of cashew kernels from now to the end of 2020 is still a big question mark, because cashew nuts are not essential and irreplaceable products. In fact, consumption of cashew in restaurants, accommodation facilities, hotels and tourism decreased due to the social disparity caused by the ...

Source: Vietnambiz