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Cashews: imports return to normal

October 18, 2021 2:44 PM, Der AUDITOR
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HANOI. After Cambodian exports to Vietnam had puzzled market players at the beginning of the year, the figures have now returned to normal. Another country has reclaimed its role as the main supplier.

Dubious imports from Cambodia

After Vietnamese cashew imports from Cambodia had reached exorbitant quantities at the beginning of the year, especially in March and April, the situation has now returned to normal. At that time, shipments from Cambodia had been so high that even the official crop volume was doubted, as the Vietnam Cashew Association (Vinacas) had reported. In March, more than 367,000 mt of RCN were imported from Cambodia, while the crop was estimated at only 250,000-300,000 mt. This raised understandable doubts among market players.

Côte d'Ivoire as the most important supplier

In September, the situation already looked quite different. Vietnam imported 100,268 mt of cashew nuts worth 127.5 million USD from Côte d'Ivoire last month - putting the African country back in first place among the most important suppliers for Vietnam and accounting for almost 49% of total imports. Cambodia reached an average value with 8,920 mt worth USD 14.5 million. However, the massively high values in March and April keep Cambodia in first place for the first nine months of 2021. According to Vinacas, Vietnam imported more than 1.1 million mt of Cambodian cashews worth USD 1.84 billion during this period. Côte d'Ivoire's shipments were only about half of that, at just under 519,500 mt worth USD 669 million.

Vietnam significantly increases imports

In total, Vietnam's cashew imports between January and September 2021 amount to just over 2.5 million mt worth USD 3.7 billion, representing a 129% increase in volume and 172% year-on-year growth in value. This is also reported by Vinacas, referring to official customs data.

Meanwhile, prices on the European spot market are holding steady at last week's level. Cashews, WW320, origin Vietnam continue to trade at EUR 6.75/kg FCA Spain.

Cashew kernels, Vietnam

Type

EUR/kg

WW320

6.75

WW240

7.20

Large White Pieces

4.45

FCA Spain

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