Source: Ministry of Agriculture and Rural Development
In October 2020, the volume of cashew nuts exported from Vietnam was estimated at 50 thousand tons with a value of $ 297 million, bringing the volume of nut exports in the first 10 months of 2020 to 415 thousand tons and 2.61 billion USD, up 11 , 5% in volume but decreased 3.4% in value over the same period in 2019. The United States, the Netherlands and China remained the three largest cashew import markets of Vietnam in the first 8 months of the year. accounting for 33.5%, 13% and 12.7% of the total cashew export value respectively. Cashew export value increased the most in the Japanese market, up 68.9%, in contrast to the market with the strongest drop in cashew export value was Russia, down 33.9%. The average export price of cashew nuts in the first 9 months of 2020 reached US $ 6,332 / ton, down 13.2% over the same period in 2019.
The volume of imported cashew nuts in October 2020 is estimated at 76 thousand tons with a value of $ 95 million, bringing the total volume and value of cashew imports in the first 10 months of 2020 to 1.19 million tons and 1.46. billion USD, down 16% in volume and 21.3% in value over the same period in 2019. The main import markets for cashew nuts in August 2020 are Ivory Coast, Cambodia and Gana. Cashew kernel transaction price (FOB HCM) in October fluctuated at 6,062 to 6834 USD / ton for the code W320, depending on the factory, the code W240 was at 7,165 to 7,716 USD / ton.
In the domestic market, the price of raw materials increased slightly in October 2020. Specifically, dried cashew nuts bought in Binh Phuoc increased from 29,000 VND / kg to 30,000 VND / kg; In Dong Nai, raw cashew nuts bought in buckets remained unchanged at VND 32,000 / kg. Currently, the need to purchase for processing from small businesses is one of the reasons for the increase in raw cashew prices.
On the world market, Indian cashew nuts have no prospect of going down, but the rainy season is a big obstacle that makes traders worry that there will be a negative trend. Cashew consumption demand during Diwali festival season, New Year 2021, wedding season will be a positive factor to promote consumption in the coming time. In the state of Tamil Nadu, India, cashew nut prices were stable at $ 8,818 / ton; W-320 at 7,936 USD / ton; W-450 at $ 6,944 / ton; S-W320 at 6,393 USD / ton.
For the raw cashew market, the raw cashew nuts are currently being offered more prices because the owners want to push the inventory before the new crop Tanzania raw cashew is sold on the market. The price of Indonesian raw cashew decreased slightly, but the processors are still waiting for the price to be lower, because the current price if compared with the price of kernel (converted) is still very high. In the first week of October 2020, the first raw cashew auction of Tanzania’s new crop was held. The government of this country wants to sell at prices ranging from 1570 to 1600 USD / ton for the category 52/190 including the costs and profit of the exporter. At this price, almost Vietnamese factories can not buy.
It is forecasted that Vietnam’s cashew exports in the remaining months of 2020 will continue to increase, due to the demand for year-end holidays of major importing countries such as the US, India, EU and China. . Even so, there are uncertainties about demand for processed cashews such as cashew nuts that are not essential foods and the risk of the Covid-19 pandemic resurging in the EU, China, and India. Degrees and some other major countries. The purchasing power from the Chinese market is not too large, and the importers from the US and EU have stored enough inventories until December 2020, so the target that Vietnam has set is 450 thousand tons and 3, $ 2 billion by the end of 2020 will face many difficulties. In addition, the supply of raw cashew nuts in the world is still very large, so in the coming months, the price of raw cashew is still possible.
