Vietnam: Exports decrease, cashew industry faces many challenges

Raw Cashew Nut

Cashew Nut Kernel

Vietnam

Published Jun 27, 2022

Tridge summary

This is the content that the Vietnam Cashew Association (VINACAS) informed at the Conference on preliminary review of the cashew industry in the first 6 months of 2022 taking place on the afternoon of June 25 in Ho Chi Minh City. VINACAS statistics show that in the first 5 months of 2022, the whole industry has exported 206,112 tons of cashew kernels of all kinds, export turnover reached over 1.19 billion USD, down 7.81% in volume. , and down 6.81 in value.

Original content

The average export price reached about 5,792 USD/ton, up 1.45% over the same period in 2021. Regarding imports, in the first 5 months of 2022, enterprises in the cashew industry imported about 968,000 tons of raw cashew nuts from abroad. worth nearly $1.4 billion, down 35.24% in volume and 37.84% in value. However, if we consider the price of raw cashew imports from Africa from the beginning of the crop to now, it has increased by 15-20% over the same period. Meanwhile, about the unfavorable cashew harvest in 2022 in Vietnam and India, this year's cashew crop in Vietnam came later due to the effects of climate change. According to Mr. Tran Van Hiep, Vice President of VINACAS, in the first half of 2022, the export volume of cashew kernels only decreased slightly (20,000 tons) but the amount of imported raw cashew nuts decreased significantly (down 350,000 tons). This shows that importers and processors are tending to be slow to buy raw materials for many reasons, mainly due to the ...

Source: Vinacas