Vietnam’s cashew nut exports in November 2022 reached 80,000 tonnes, worth 458 million USD. This figure is up 80.6% in quantity and 72.4% in value against October 2022; compared to November 2021, it is up 58.1% in quantity and 39.1% in value.
Cashew nut exports are increasing strongly at the end of year. (Photo: Internet)
Vietnam’s average export price of cashew nut is estimated at 5,948 USD/tonne
According to estimates of the General Department of Customs, Vietnam’s cashew nut exports in November 2022 reached 80,000 tonnes, worth 458 million USD. This figure is up 80.6% in quantity and 72.4% in value against October 2022; compared to November 2021, it is up 58.1% in quantity and 39.1% in value. In general, in November 2022, Vietnam’s cashew nut exports are estimated at 505,000 tonnes, valued at over 03 billion USD, down 5.0% in quantity and 10.1% in value compared to the same period in 2021.
In November 2022, the average export price of cashew nuts in Vietnam is estimated at 5,724 USD/tonne, down 4.5% compared to October 2022 and 12% compared to November 2021. Cumulatively eleven months of 2022, the average export price of Vietnamese cashew nuts is estimated at 5,948 USD/tonne, down 5.4% compared to the same period in 2021.
Type structure: In October 2022, the export of most types of cashew nuts decreased compared to October 2021, except for W180. In ten months of 2022, exports of many types of cashew nuts decreased compared to the same period in 2021, except WS/WB, W180, SP, and W210.
Export structure of cashew nuts in October and ten months of 2022. (Source: the General Department of Customs)
In the world, in November 2022, the export price of raw cashew nuts was quite stable compared to the previous month. According to ITC, the export price of raw cashew nuts in Benanh stabilized at 1,075 USD per tonne; in Ivory Coast, Gana, and Nigeria the price stabilized at 1,025 USD per tonne.
According to ITC, Brazil’s cashew nut exports in the first 9 months of 2022 reached 7.6 thousand tonnes, valued at 49.32 million USD. The figure is down 33.7% in quantity and 33.2% in value compared to the same period in 2021. The main export markets of Brazil cashew nuts include the United States, Netherlands, Argentina, Italy, Canada, Chile, France, Peru, etc. In the first 9 months of 2022, Brazil’s cashew nut exports to most key markets declined, with the exception of the Netherlands. Remarkably, Brazil’s cashew nut exports to Mexico and Peru grew by two figures, 53.8% and 15.2% in quantity, respectively. In terms of added values, the exports increased by 62% and 11.1% reaching 508 tonnes and 274 tonnes, worth 3.44 million USD and 2.13 million USD, respectively.
According to the Chinese Customs Agency, this country’s cashew nut imports in October 2022 reached approximately 27.7 million USD, up 18.7% compared to October 2021. Cumulatively in ten months of 2022, China’s cashew nut imports increased 61.9% compared to the same period in 2021, reaching 241.44 million USD. The largest supplies of cashew nuts to China include Vietnam, Togo, Myanmar, and Côte d ‘Ivoire.
In particular, Vietnam’s market share of cashew nuts in the total value of Chinese imports declined from 89.06% in 10 months of 2021 to 88.78% in 10 months of 2022. Remarkably, China sharply increased cashew nut imports from Myanmar in 10 months of 2022, up to 10,158.1% compared to the same period in 2021. Myanmar’s market share of cashew nuts in China’s total import value increased from 0.06% in October 2021 to 3.83% in October 2022.
Five cashew nut suppliers for China in October and ten months of 2022. (Source: China Customs Agency)
(*) Note: HS 080131 Fresh or dried cashew nut, unpeeled;
HS 080132 Fresh or dried cashew nut, peeled.
Earlier, the cashew sector proposed to lower this year’s export target to 3.2 billion USD instead of 3.8 billion USD as initially set due to the difficult market. VINACAS had to request the authorities to support the update and guide the implementation of new regulations on food safety control in foreign markets, especially China, the EU, and the US.
VINACAS also recommends that the authorities support research and develop specialized standards and technical regulations for cashew nuts and by-products. This is to have a basis for quality assessment and long-term planning of cashew-growing areas. In the difficult context of increasing the cashew area in the country, there should be a cooperative solution to exploit and develop cashew raw materials in Cambodia and South Laos to ensure the supply for processing and export./.