Vietnam: Inflation escalates, cashew exports in the second half of 2022 will be more difficult
Raw Cashew Nut
Vietnam
Published Jul 18, 2022
Tridge summary
According to the Import and Export Department, in the second half of 2022, cashew exports will face many difficulties such as inflation in key markets such as the US and EU, escalating freight rates while cashew prices are flat.
Original content
According to the Import and Export Department (Ministry of Industry and Trade), in June, Vietnam's cashew exports reached 46.5 thousand tons, worth 285 million USD, down 21% in volume and 23% in value compared to the previous month. 6/2021. Generally in the first 6 months of the year, Vietnam's cashew exports reached 249 thousand tons, equivalent to 1.5 billion USD, down 9% in volume and value compared to the same period in 2021. (Source: Department of Import and Export) The market was less active, causing the export price of cashew nuts in the first 6 months of the year to be flat compared to the same period in 2021, reaching USD 6,018/ton. With export results in the first 6 months of the year, the Import-Export Department forecasts that in the short term, Vietnam's cashew nut exports will still face difficulties. Geopolitical tensions between Russia and Ukraine have not had much impact on Vietnam's cashew exports. Because Vietnam's cashew nut volume is mainly exported to the US ...
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