Nuts

Cashews: September exports clearly up

October 10, 2023 at 4:51 PM , Der AUDITOR
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HANOI. Vietnam's cashew exports ranged 50% higher than last year in September. Vinacas, the Vietnam Cashew Association, is confident that the export target of USD 3.1 billion will be reached.

Encouraging prospects in fourth quarter

According to Vietnam's Ministry of Industry and Trade the country exported 60,000 mt of cashews worth USD 328 million in September 2023. Although this figure is 1.0% down in terms of volume and 1.6% down in terms of value on August 2023, the export volume ranges as much as 56% higher and the export value 39.6% higher than in September 2022.

Vinacas, in addition, reports that exports reached around 456,000 mt worth USD 2.6 billion in January-September. This is 19.6% up in terms of volume and 14.3% up in terms of value on the same period in 2022. Prospects are also highly encouraging as demand should rise in the fourth quarter due to the festivities towards the end of the year. Exports may even exceed the target of USD 3.1 billion. Vietnam will thereby retain its position as leading cashew supplier for the 16th year in a row. The country accounts for 80% of global exports.

More raw cashew nuts from Vietnam

Vinacas, however, also emphasises that the industry is still confronted with challenges. Domestic raw cashew nut production can, for instance, only supply around 30% of the processing capacity and the remaining 70% need to be imported from Cambodia, Indonesia and countries in Africa such as Côte d'Ivoire. The Association is calling for a closer cooperation along the supply chain and would like more processors to invest in new plantations and engage in longterm contracts with local farmers. Prices have risen a bit in India and W240 cashew kernels are quoted at USD 8,740/mt FOB India.

Cashews, India

Type

USD/mt

LWP

6,475

SWP

5,810

W240

8,470

W320

7,820

W450

7,105

FOB India

 

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