Vietnam: Why is it necessary to remove bottlenecks for the cashew industry?

Published 2024년 10월 29일

Tridge summary

Vietnam has seen a significant increase in cashew nut exports in September 2024, with a total of 57 thousand tons exported, valued at 372.16 million USD, despite a decrease in volume year-on-year. The first nine months of 2024 witnessed a 20.1% increase in volume and a 21.7% increase in value compared to the same period in 2023, with the average export price reaching 6,522 USD/ton. However, the industry faces challenges due to current policies and regulations, notably Decree 15/2018/ND-CP, which poses difficulties for cashew businesses importing raw materials from countries not on Vietnam's registered list for food origin export. These regulations, along with the need to import most raw materials from Africa and Cambodia, have led to concerns and calls for policy adjustments to better support the cashew industry. Despite these challenges, the industry remains a leader in cashew nut exports, with a significant market presence in various countries and a positive growth trend in export volumes and values.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Cashew nut exports increase sharply. The Import-Export Department (Ministry of Industry and Trade) cited data from the General Department of Customs, saying that in September 2024, Vietnam exported over 57 thousand tons of cashew nuts, worth 372.16 million USD, down 11.6% in volume, but up 8.9% in value compared to August 2024, and up 0.6% in volume and 20.2% in value compared to September 2023. In the first 9 months of 2024, Vietnam exported 543.5 thousand tons of cashew nuts, worth 3.15 billion USD, up 20.1% in volume and 21.7% in value compared to the same period last year. It is forecasted that in the last months of the year, cashew nut exports will increase sharply due to cyclical factors and export prices tend to increase. In September 2024, the average export price of Vietnam's cashew nuts reached 6,522 USD/ton, up 3.1% compared to August 2024 and up 19.5% compared to September 2023. In the first 9 months of 2024, the average export price of Vietnam's cashew nuts reached ...
Source: Vinacas

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