Vietnam: Cashew nut exports will be increasingly difficult

Published 2022년 7월 18일

Tridge summary

Vietnam's cashew exports have seen a decrease both in volume and value over the past six months, with the average export price reaching $6,018 per ton, a slight decrease from the same period in 2021. The export volume in June 2022 was down by 6.9%, and down by 21.4% and 23.4% compared to the same months in the previous year respectively. The United States and the European Union are the largest markets for Vietnam's cashew nuts, but high inflation and geopolitical tensions are leading to a decrease in demand. Additionally, the supply chain is under threat due to escalating geopolitical tensions and high freight rates. Exports of W320 cashew nuts, which make up 41.02% of the total volume and 44.75% of the total export turnover, have had a significant impact on the industry.

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

Original content

In 6 months, Vietnam's cashew exports decreased in both volume and value. At the beginning of July 2022, the export price of raw cashew nuts was generally quite stable compared to the end of June 2022. On July 1, 2022, the export price of raw cashew nuts in Benanh was stable at $1,287.5/ton; in Ivory Coast, Gana and Nigeria were all at $1,225/ton. According to the Chinese Customs, the import value of cashew nuts in this market in the first five months of 2022 reached US$82.46 million, up 57.4% over the same period in 2021. In which, Vietnam is the source. the largest supply of cashew nuts to China, worth nearly 71.36 million USD in the first 5 months of 2022, up 43% over the same period in 2021. However, Vietnam's cashew nut market share in total import value of China decreased from 95.23% in the first 5 months of 2021 to 86.53% in the first 5 months of 2022. Meanwhile, Myanmar's cashew nut market share in China's total import value accounted for 10, 37%; Ivory Coast accounted for ...

Source: Vinacas