Vietnam raw cashew imports exceed $3B in almost 7 months

Customs data show that as of July 15, Vietnam had imported 1.81 million metric tons, up 4% in volume, and 12.3% in value compared to the same period last year.

Cambodia remained Vietnam’s largest supplier of raw cashew nuts, accounting for 54.2% of total import volume and 56.3% of total import value.

Vietnam imported 980,700 tons from Cambodia, valued at more than $1.7 billion, up 10.3% in volume and 25.9% in value.

Vietnam is currently the world’s largest exporter of cashew kernels. However, domestic raw material supplies meet only part of the processing industry’s demand, forcing businesses to import large volumes of raw cashew nuts.

After preliminary processing and manufacturing into cashew kernels and other cashew products, the goods are exported to major markets including the U.S., China, and Europe.

Customs Department data showed that as of July 15, Vietnam had exported nearly 373,800 metric tons of cashew products, generating almost $2.63 billion in export revenue.

Compared with the same period last year, export volume edged down, while export value increased 3.1%.

With import value exceeding export value, Vietnam’s cashew industry continued to post a trade deficit as demand for processing materials remained strong while domestic supply continued to fall short of the country’s processing capacity.

Source: https://e.vnexpress.net/