Vietnam: Cashew nut exports in 9 months of 2022 reached 2.29 billion USD

Cashew Nut Kernel

Vietnam

Published Oct 9, 2022

Tridge summary

The Import-Export Department (Ministry of Industry and Trade) quoted data from the General Department of Customs as saying, it is estimated that in September 2022, cashew nut exports will reach 40,000 tons, worth 245 million USD, down 14.6% in volume. and 10.3% decrease in value compared to August 2022; compared to September 2021, down 22.2% in volume and 28.2% in value.

Original content

Cashew nut exports in 9 months of 2022 reached 2.29 billion USD Generally, in the first 9 months of 2022, cashew nut exports are estimated at 382 thousand tons, worth 2.29 billion USD, down 10.6% in volume and 14% in value over the same period in 2021. In September 2022, the average export price of Vietnam's cashew nuts was estimated at $6,136/ton, up 0.5% compared to June 2022, but down 7.7% compared to September 2021. In the first 9 months of 2022, the average export price of Vietnam's cashew nuts is estimated at 5,992 USD/ton, down 3.7% over the same period in 2021. Armed conflict between Russia and Ukraine affects Vietnam's cashew exports. The recession of major economies, high inflation makes consumers tend to increase savings. This will be a barrier for the US to reduce cashew nut imports in the remaining months of 2022, despite a possible increase in consumption demand at the end of the year (according to the cyclical factor). High-priced products are unlikely to be the ...

Source: Vinacas