Cashew export prices fell sharply

Published 2020년 8월 23일

Tridge summary

The article highlights the significant challenges faced by the cashew industry in Vietnam due to the Covid-19 pandemic. The disease has disrupted the supply of raw cashew nuts from Africa, leading to production issues and financial strain for processing enterprises. This has resulted in a sharp decrease in the export price of cashew nuts, especially whole-grain white cashews, achieving a record low. Despite a slight increase in volume, cashew nut exports in value have seen a decline both in July 2020 and from January to July 2020 compared to the previous year. The average export price has also decreased across most markets, except for India, and exports to some markets have experienced a decline, while others have seen an increase. The outlook for the industry in the coming quarter remains uncertain due to the ongoing global pandemic.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The Import and Export Department (Ministry of Industry and Trade) said that, due to the impact of the Covid-19 epidemic, the price of cashew nuts for exports fell sharply, while the increasingly demanding export markets caused many cashew processing enterprises. difficulty. China's demand for salt-roasted cashews has slowed down. According to the Vietnam Cashew Association (Vinacas), due to the negative impact of the Covid-19 epidemic, the supply of raw cashew nuts from Africa to Vietnam was interrupted. Therefore, cashew processing enterprises could not balance production costs, were forced to reduce production or stop operations. The price of whole-grain white cashew nuts dropped to a record low, and the low-end products fell deeper. The outlook for the cashew industry in the third quarter of 2020 is not very positive due to the complicated situation of Covid-19 epidemic in the world and in the country. According to statistics from the General Department of Customs, cashew nut ...
Source: CafeF

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