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Cashew export
According to statistics from the General Administration of Vietnam Customs, in the first half of the year, the country exported nearly 250,000 tons of cashew nuts, with an average price of US$6,017/ton, and a total export value of over US$5 billion, down 9% from the same period last yea.
The United States, China and the Netherlands are the top three import markets for Vietnam's cashew nuts, and the import value all declined year-on-yea.
Among them, the United States fell by 9%, China fell by 39%, and the Netherlands fell by 15.
The simultaneous rise in the purchase price of cashew raw materials is the main reason for the overall decline in export.
At present, the purchase price of raw materials for cashew nuts in Vietnam has risen by 15-20% compared with the same period last year, while the export price of cashew nuts has dropped by 5% year-on-year to US$5,792/to.
Several cashew processing plants have stopped production to avoid losse.
In addition, inflation in the United States and Europe is also one of the reasons for the decline in Vietnam's cashew export.
It is predicted that by the end of the year, the export price of Vietnamese cashew nuts will continue to declin.
The United States, China and the Netherlands are the top three import markets for Vietnam's cashew nuts, and the import value all declined year-on-yea.
Among them, the United States fell by 9%, China fell by 39%, and the Netherlands fell by 15.
The simultaneous rise in the purchase price of cashew raw materials is the main reason for the overall decline in export.
At present, the purchase price of raw materials for cashew nuts in Vietnam has risen by 15-20% compared with the same period last year, while the export price of cashew nuts has dropped by 5% year-on-year to US$5,792/to.
Several cashew processing plants have stopped production to avoid losse.
In addition, inflation in the United States and Europe is also one of the reasons for the decline in Vietnam's cashew export.
It is predicted that by the end of the year, the export price of Vietnamese cashew nuts will continue to declin.
Earlier this year, Vietnam’s Ministry of Agriculture and Rural Development set the annual cashew export target at US$8 billion, an increase of US$200 million from 2021. But in the face of the current difficulties, the cashew industry has proposed lowering the annual cashew export target to US$2 billio.
