Is it worrying that farmers are cutting down cashew trees to grow durian?

Published 2024년 8월 28일

Tridge summary

In the first half of August 2024, Vietnam experienced a significant growth in its cashew nut exports, with a 16.59% increase in volume and a 33.8% increase in value compared to the same period in 2023. The total export volume from January 15 to August 15 reached 451,567 thousand tons, valued at 2.554 billion USD, showing a 25.24% increase in volume and 22.5% increase in value over the previous year. The average export price per ton in July 2024 was 6,168 USD, marking a 2.7% increase from June 2024 and a 10.8% increase from July 2023. The top 10 export markets, including the US, China, and the Netherlands, experienced double-digit growth. Despite these positive trends, the Vice President of the Vietnam Cashew Association, Mr. Ta Quang Huyen, does not anticipate a record-breaking year due to high raw material costs and the shift in farming towards more profitable durian crops. Additionally, the article discusses the potential relocation of cashew processing factories to Africa, driven by lower labor costs and the African continent's promotion of cashew nut processing.

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

Original content

Source: nhipsongkinhdoanh.vn Statistics from the General Department of Customs show that in the first half of August 2024, Vietnam exported 30,004 thousand tons of cashew nuts, bringing in more than 188.603 million USD. Compared to the first half of August 2023, it increased by 16.59% in volume and 33.8% in value. Accumulated from the beginning of the year to August 15, it reached 451,567 thousand tons, worth 2.554 billion USD, up 25.24% in volume and 22.5% in turnover. In July 2024, the average export price of cashew nuts reached 6,168 USD/ton, up 2.7% compared to June 2024 and up 10.8% compared to July 2023. In the first 7 months of the year, the average export price of cashew nuts reached 5,611 USD/ton, down 3.3% over the same period last year. The top 10 main export markets of cashew nuts include: the US, China, the Netherlands, Germany, the United Arab Emirates, the UK, Australia, and Canada. 9/10 traditional markets recorded double-digit growth. Mr. Ta Quang Huyen, Vice ...

Source: AgroInfo.vn