Cashew export prices fell to the lowest level in many years

Published 2020년 8월 24일

Tridge summary

The Vietnamese cashew industry is facing challenges due to the COVID-19 pandemic, with a sharp decrease in export prices and demand, particularly for salt-roasted cashews. The industry is struggling with production imbalances and some enterprises have had to cease operations. The outlook for the rest of 2020 is dim due to the ongoing global pandemic. Export volumes in July were stable but valued 6% lower than June, and 19.9% lower than July 2019. The average export price in July was at a record low, decreasing by 6% and 14.8% compared to June and July 2019, respectively. The average export price to most major markets, including Hong Kong, Taiwan, Iraq, Spain, and Israel, also decreased, while to India, it increased.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to the Import-Export Department (Ministry of Industry and Trade), due to the impact of the COVID-19 epidemic, the price of cashew nuts for export fell sharply, while the increasingly demanding export markets caused many cashew processing enterprises to meet. hard. 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 Import-Export Department said that the price of whole-grain white cashew nuts dropped to a record low, and the low-end products fell further. The outlook for the cashew industry in the third quarter of 2020 is not very positive due to the complicated developments of COVID-19 in the world and in the country. According to statistics from the General ...
Source: Vietnambiz

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