Vietnam is the world's cashew import and export center, but there is still a situation of competition between buying and selling

Published 2024년 2월 27일

Tridge summary

Vietnam's cashew industry is under threat due to an imbalance between raw cashew prices and cashew kernel selling prices, leading to potential losses for processors. The Vietnam Cashew Association (Vinacas) anticipates a continued decline in domestic cashew kernel prices in 2023, mirroring trends in other major producing countries. This imbalance is causing processors to suspend operations or reduce output, with the risk of mass closures. If processing factories close, it could disrupt the global cashew supply chain, resulting in a surplus of raw cashews and a shortage of cashew kernels. The article emphasizes the need for harmonizing the interests of all parties involved in the cashew supply chain to ensure its smooth operation.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Mr. Pham Van Cong - Chairman of the Vietnam Cashew Association (Vinacas) shared this at the 13th Vietnam International Cashew Conference in 2024 held on February 27 in Quang Binh province. In 2022, Vietnam's cashew industry set a new record by exporting over 645,300 tons of cashew kernels of all kinds. However, behind this record number, many big threats to the Vietnamese cashew industry and also threats to the global cashew industry have emerged. The hot growth of Vietnam's cashew processing industry has led to a situation of competing to buy raw cashews and compete to sell cashew kernels. Since then, the price of cashew kernels has dropped sharply. The price of raw cashew nuts is often very high at the beginning of the season, but at the end of the season it decreases but is accompanied by a decrease in quality. And the imbalance between raw cashew prices and cashew kernel selling prices causes many processors to lose money. Vinacas Cashew Association said that, having decreased ...
Source: Danviet

Would you like more in-depth insights?

Gain access to detailed market analysis tailored to your business needs.
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.