Weekly Product Updates

W7 Cashew Update: Cashew Production in Cambodia Expected to Drop Due to El Niño Phenomenon and Cashew Harvest Season Started in Vietnam

Cashew Nut Kernel
Published Feb 22, 2024
In W7 in the cashew landscape, cashew harvest season has commenced in Bình Phước, Vietnam, with current prices standing at USD 1 /kg, a drop of USD 0.07/kg compared to Feb-23. In addition, the CAC revised its 2024 cashew production outlook, projecting a YoY decline of 10% to 30% due to adverse impacts of the El Niño phenomenon.

Cashew Harvest Season Started in Bình Phước province, Vietnam

The cashew harvest season has officially started in Bình Phước province, Vietnam. This region has a cashew planting area of over 152 thousand hectares (ha), which makes up almost half of the total cashew planting area of the country. The province has over 1.4 thousand cashew processing facilities, creating regular jobs for more than 50 thousand local and foreign workers. The cashew planting area is concentrated mainly in Bù Đăng, Bù Gia Mập, Phú Riềng, and Đồng Phú Bu Dang. The current sales price is USD 1 per kilogram (VND 24,500/kg), which declined slightly compared to USD 1.07/kg (VND 26,000/kg) in the same period of 2023.

Cambodia's Cashew Production Forecast for 2024 Revised Downward Due to El Niño Impact

The Cashew Nuts Association of Cambodia (CAC) revised the 2024 cashew production outlook, projecting a decline of 10% to 30% compared to the harvest in 2023. This reduction is due to the adverse impacts of the El Niño phenomenon, which led to crop damage and failed growth. The initial forecast released on February 13, 2024 advised a 10% year-on-year (YoY) yield increase. However, subsequent site visits across ten provinces prompted a revision to a potential yield decrease of up to 30% YoY.

Furthermore, Cambodia's cashew cultivation area in 2023 was about 472.95 thousand ha, and the yield was 709.42 metric tons (mt), of which 656 thousand mt of raw cashews were exported to countries like Bangladesh, China, India, Japan, Thailand, and Vietnam. The processed cashews were shipped to markets including China, the Czech Republic, Japan, South Korea, the Netherlands, Vietnam, and the United States (US).

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