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Cambodia, the top supplier of cashew nuts to Vietnam, is having difficulty in the industry

Cashew Nut Kernel
Published Apr 16, 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 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 average export prices. The US and China remain the primary markets, with China's imports experiencing a significant increase. However, Vietnam's cashew industry, the largest globally, faces challenges due to dependency on raw materials from Cambodia, which is currently struggling with El Nino effects and an oversupply. Efforts are underway in Cambodia to enhance the cashew sector's sustainability and market efficiency through improved productivity, quality, and digital initiatives.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Source: danviet.vn 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 ...
Source: AgroInfo.vn
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