News

Cambodia, the top supplier of a type of nut to Vietnam, is having difficulty, will the supply to Vietnam be affected?

Cashew Oil
Vietnam
Regulation & Compliances
Market & Price Trends
Published Apr 15, 2024

Tridge summary

In March 2024, Vietnam witnessed a remarkable surge in its cashew exports, doubling both in volume and value from the previous month to reach 55,000 tons and 289 million USD, respectively. This growth is part of a broader trend observed in the first quarter of 2024, with exports up by 31.8% in volume and 20.5% in value year-over-year, despite a drop in the average export price. The US and China are the leading markets for Vietnamese cashews, with China showing a notable increase in imports. Meanwhile, Cambodia, a key supplier of raw cashews to Vietnam, is grappling with industry challenges due to El Nino and an oversupply, prompting the Cambodia Cashew Association to focus on enhancing quality and productivity and seeking international cooperation for sustainable development and better market access.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to statistics from the General Department of Customs, in March 2024, Vietnam's cashew exports reached 55,000 tons, worth 289 million USD, an increase of 106.8% in volume and 103.4% in value compared to with February 2024. In the first quarter of 2024, Vietnam's cashew exports reached about 147,000 tons, worth 782 million USD, up 31.8% in volume and 20.5% in value compared to the same period in 2023. According to estimates, Vietnam's average cashew export price will reach 5,248 USD/ton in March 2024, down 1.7% compared to February 2024 and down 11.6% compared to March 2023. In the first quarter of 2024, Vietnam's average cashew export price is estimated to reach 5,329 USD/ton, down 8.6% compared to the same period in 2023. The US and China are currently the two markets importing a large amount of cashew nuts from Vietnam. According to data from the Chinese Customs Authority, in the first 2 months of 2024, China imported 8,410 tons of cashew nuts, worth nearly 42.16 ...
Source: Danviet
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