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Cashew exports in Vietnam are expected to reach $ 3.2 billion in 2020

Xuất khẩu điều dự kiến cán đích 3,2 tỉ USD trong năm 2020
This news article has been translated to English.
Nuts
Cashew Nut Kernel
Vietnam
Demand
Supply Yield / Stock Quantity
Oct 29, 2020
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According to statistics from the General Department of Customs, cashew exports in September increased by 10.3% in volume and 12.6% in value compared to August 2020, compared to September 2019, up 21.5 % in volume and 5% in value, reaching 51.3 thousand tons, worth $ 305.68 million. Generally, in the first 9 months of 2020, cashew nut exports increased by 11.2% in volume, but decreased by 3.5% in value over the same period in 2019, reaching approximately 365 thousand tons, worth $ 2.31 billion. .
The Import and Export Department (Ministry of Industry and Trade) forecasts cashew exports will increase in the remaining months of this year. The export target of 450,000 tons, worth $ 3.2 billion, is set by the Vietnamese cashew industry in 2020 and is likely to reach the target. Demand increased due to seasonal factors from major export markets such as the US, EU, India, China. Besides, cashew nut price is expected to increase due to limited supply. Many small and medium cashew processing facilities in Vietnam and India have reduced capacity, leading to a decrease in supply. Even so, there are uncertainties regarding demand for processed cashews. Because cashews are not an essential food and the risk of a COVID-19 pandemic reappear in the EU, China, India and some major cashew consuming countries in the world. Many importers have bought enough demand until December 2020, while the purchasing power from the Chinese market is not large. In addition, the supply of raw cashew nuts ...
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