Buyers need to know about Vietnam cashew kernel 2019
15/11/2019
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Honesty is quality
The Department of Processing and Market Development of Agricultural Products in Vietnam said that the tariff tension between the US - India, and the US - China has helped Vietnamese cashew nuts to be better consumed in both China and India markets due to other nuts from the US dropped. Recently, the Chinese Government ordered the suspension of US agricultural imports. This will lead to China buying more cashew nuts from Vietnam in the coming months to compensate for other nuts imported from the US. However, the Yuan devaluation also makes the price of imported cashew into this market relatively higher than before. Also, it is said that in the near future the price of cashew kernels will not be much increased due to the demand of the Western market increasing but not buying aggressively.
According to the data of the Agricultural Product Processing and Market Development Department, in August, the exported quantity of Vietnamese cashew nuts was estimated at 47,000 tons with a value of 322 million USD, bringing the export volume of cashew nuts in the first 8 months of 2019 reaching 287,000 tons and 2.1 billion USD, up nearly 19% in volume but down 7.3% in value over the same period in 2018.
The United States, China and the Netherlands are the three largest cashew import markets of Vietnam in the first 7 months of 2019, accounting for 32.7%, 15% and 9.6% of total cashew export value respectively
Source: Fomexco JSC