Vietnam: Cashew market news October 2020

Published Nov 11, 2020

Tridge summary

In October 2020, Vietnam exported 50,000 tons of cashew nuts earning $297 million, despite an 11.5% increase in volume and a 3.4% decrease in value compared to the same period in 2019. The United States, the Netherlands, and China were the largest markets. The average export price dropped by 13.2% to $6,332 per ton. Imported cashew nuts volume and value decreased by 16% and 21.3% respectively, with Ivory Coast, Cambodia, and Gana as the main markets. Domestic market raw cashew prices increased slightly. Indian cashew nuts are stable, but the rainy season could negatively affect the market. Demand for cashew nuts during festivals and weddings could increase consumption. However, export targets of 450 thousand tons and $3.2 billion for the end of 2020 face challenges due to uncertainties in demand for non-essential foods and the risk of Covid-19 pandemic resurgence in major importing countries, as well as the large supply of raw cashew nuts worldwide.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Source: Ministry of Agriculture and Rural Development In October 2020, the volume of cashew nuts exported from Vietnam was estimated at 50,000 tons with a value of $ 297 million, bringing the volume of grain exports in the first 10 months of 2020 to 415 thousand tons and , $ 61 billion, up 11.5% in volume but down 3.4% in value over the same period in 2019. The United States, the Netherlands and China remained the 3 largest import markets of cashew of Vietnam in the first 8 months of the year, accounting for 33.5%, 13% and 12.7% of the total cashew export value, respectively. Cashew export value increased the most in the Japanese market, up 68.9%, in contrast to the market with the strongest drop in cashew export value was Russia, down 33.9%. The average export price of cashew nuts in the first 9 months of 2020 reached US $ 6,332 / ton, down 13.2% over the same period in 2019. The volume of imported cashew nuts in October 2020 was estimated at 76 thousand tons with a value of 95 ...

Source: AgroInfo.vn