Cashew nut exports of Vietnam in the third quarter were difficult because of high inflation in many major economies

Cashew Nut Kernel

Vietnam

Published Aug 10, 2022

Tridge summary

The Import and Export Department (Ministry of Industry and Trade) forecasts that Vietnam's cashew nut exports in the remaining months of the third quarter of 2022 will still face difficulties. High inflation in many major global economies causes people to tighten spending, especially for high-priced products.

Original content

Illustration - Source: IT According to statistics, Vietnam's cashew nut exports in the second quarter of 2022 reached 145 thousand tons, worth USD 879.8 million, up 37.5% in volume and 40.1% in value compared to the previous quarter. I/2022, but decreased by 10% in volume and 11% in value compared to the same period in 2021. In general, in the first 6 months of 2022, Vietnam's cashew exports reached 249.36 thousand tons, worth 1. 5 billion USD, down 9.1% in volume and 9.2% in value over the same period. It is forecast that cashew nut exports in the third quarter of 2022 will face many difficulties. According to the Import and Export Department, Vietnam's cashew nut exports in the third quarter will face more difficulties due to high inflation in many major global economies, causing people to tighten spending, especially for products. high priced products. In addition, freight rates are high, the price of imported cashew kernels is high (up from 15-20% over the same period in ...

Source: Vinacas