Vietnam cashew: Become the first exporter
Vietnam continues topping the world’s cashew nut exports in 2018, with over 60% of the value of the global cashew nut market (about USD5.7 billion), before India and Brazil.
In 2019, even there was a slight decrease in the number of cashew exporting to the world, Vietnam still remains the first cashew exporter in the world.
Firgure: Vietnam exported value of Product: 080132 Fresh or dried cashew nuts, shelled
Unit : US Dollar thousand
Source: Trade.map
NDO – The volume of Vietnam’s cashew nut exports in 2020 so far has risen by 10.4% to 265,000 tonnes but revenue has dropped 4% to US$1.72 billion, according to the Ministry of Agriculture and Rural Development.
Exporters have attributed such a paradox to their customers’ greater attention to quality and requirements on origin while some customers have asked for price reductions due to the impact of the coronavirus pandemic.
As a result of such difficulties, the Vietnam Cashew Association decided to revise its export revenue target for 2020 to US$3.2 billion from the US$4 billion set in late 2019.
It is forecast that Vietnam’s cashew nut exports in the third quarter will fall sharply before rebounding in the final three months of 2020 when markets such as the United States, India, the EU and China will increase their imports for the year-end festivities. As such, the cashew sector needs to take concrete and appropriate measures.
For more information, please contact us:
Viet Organic – Viettonkin Trading and Procurement Co.,Ltd
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