Aug
As of August 15, Vietnam exported nearly 451,600 tons of cashew nuts, earning 2.55 billion USD, up 25.2% over the same period last year.
According to statistics from Vietnam Customs, in the first 7 months of 2024, Vietnam exported 421,500 tons of cashew nuts, worth 2.36 billion USD (up 25.8% in volume and 21.6% in value over the same period in 2023).
Vietnam’s average cashew nut export price in the first 7 months of 2024 reached 5,611 USD/ton (down 3.3% over the same period in 2023).
In the first 7 months of 2024, Vietnam’s cashew nut exports to traditional and potential markets such as the US, China, the Netherlands, Russia, France, etc. all grew positively compared to the same period in 2023.
Vietnam is currently ranked No. 1 in the world in cashew nut exports. In 2024, the Vietnamese cashew industry aims to achieve an export turnover of 3.8 billion USD (an increase of 200 million USD compared to 2023).
However, about 90% of the raw materials used in the production of the Vietnamese cashew industry are imported from Africa and Cambodia. The reason is that our country’s domestic supply of raw materials is quite modest due to the narrowing of the planting area.
According to data from the General Department of Customs, in the first 7 months of 2024, Vietnam imported more than 1.78 million tons of raw cashew nuts, worth more than 2.1 billion USD (up 2.5% in volume and 0.6% in value compared to the same period in 2023).
From January to August 15, our country spent nearly 2.3 billion USD to import about 1.88 million tons of raw cashew nuts, a slight increase compared to the same period last year.
Over-reliance on imported raw materials has caused many difficulties for the Vietnamese cashew industry.
Typically, at the beginning of this year, the price of this type of nut skyrocketed; suppliers demanded price increases or defaulted on orders, causing domestic cashew factories to struggle due to a lack of raw materials.
In the first 7 months of 2024, Vietnam imported more than 1.78 million tons of raw cashew nuts, worth more than 2.1 billion USD.
Recently, the Binh Phuoc Cashew Association had to call for help because of the situation of poor quality goods impersonating the province’s cashew brand being sold widely online.
Specifically, the cheap products are old-crop imported cashew nuts of poor quality. Among them, there are many wormy, moldy kernels inside that no longer have a characteristic flavor and can affect the health of consumers; at the same time, it affects the Vietnamese cashew brand.
However, Vietnam, the world’s leading country in cashew exports, has increased the import of raw cashew nuts, making it difficult for cashew growers to sell their products, and the purchase price of fresh cashew nuts in the country has decreased.
Domestic cashew prices are difficult to compete with imported goods, and income is not guaranteed, so many farmers have to sadly cut down cashews to switch to other crops.
The above situation has caused the area of this crop in our country to gradually decrease every year. Specifically, from 440,000 hectares in 2007, by 2022, the total cashew area in the country decreased to 305,000 hectares. In 2023, the cashew area decreased to 300,000 hectares, with an output of 347,600 tons.
At the Vietnam Cashew Association Congress for the 2021-2026 term, Vinacas was concerned that Vietnam’s leading position in the global cashew supply chain and value chain would be shaken and would certainly be lost if we did not change our production strategy and depend too much on imported raw materials.
The reason is that recently, cashew-growing countries in Africa and Cambodia have advocated developing domestic processing industries, gradually reducing raw exports. Therefore, they have introduced many preferential policies to attract investment in cashew processing factories.
With raw cashew exports, countries closely monitor the minimum export price and impose high tax rates. On the contrary, tax exemption for exported cashew nuts…
The paradox is that Vietnam, the world’s leading cashew exporter, has increased the import of raw cashews, making it difficult for cashew growers to sell their products, and the purchase price of fresh cashews in the country has decreased.
Domestic cashew prices are difficult to compete with imported goods, and income is not guaranteed, so many farmers have to sadly cut down cashews to switch to other crops.
KHÁNH LINH (t/h)
Source: The Alarmist
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