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Cashews: stricter surveillance for imports from Cambodia

August 25, 2021 at 2:45 PM, Der AUDITOR
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HANOI. To prevent possible fraud, Vietnam's customs office has introduced strict import rules for RCN, especially from Cambodia. Meanwhile, a favourable development for Vietnamese exporters is evident in Japan.

Colour and weight are being checked

After imports of RCN from Cambodia had increased so rapidly in recent months that even official sources like the Vietnam Cashew Association (Vinacas) had problems giving reasons, the Vietnamese customs office has now reacted. In order to strengthen controls and to be able to prove the origin of imported raw nuts, more detailed import documents must be filled out from now on - also to prevent possible tax evasion. The criteria for determining the RCN include colour and weight, as this is where Cambodian goods differ from African origins.

Japan buys more cashews in Vietnam

A positive picture is emerging for Vietnamese exporters in terms of exports, with Japan in particular buying more goods from Vietnam instead of India. According to the International Trade Centre (ITC), Japan imported cashew nuts worth USD 33.17 million in the first five months of 2021, down 11.2% compared to the same period last year. Imports from India, from which Japan has so far sourced a large part of its supplies, fell by 22.8%. In contrast, Vietnamese suppliers were able to increase their exports to Japan by 4.5%. This means that Vietnamese shipments now account for almost 39% of Japanese imports and the exporters are doing everything they can to further increase this value in the coming years.

Competition from Vietnam and overseas

According to Vinacas, Vietnam currently accounts for 80% of the world's cashew exports, much of which relates to pre-processed cashews. The most important customer country is the USA, to which about one third of Vietnam's exports are shipped. Competition is tough, however, as according to Vinacas there are several thousand cashew processing and export enterprises in Vietnam. Besides domestic competition, the companies also have to compete with other exporting countries such as India and African countries.

Prices on the European spot market are stable with a slight downward trend. Cashew kernels, WW320 from Vietnam are unchanged from last week at 6.90 EUR/kg FCA Spain.

Cashew kernels, Vietnam

Type

EUR/kg

WW 320, roasted and salted

6,85

White Splits

5,00

Large white pieces

4,00

WW320

6,90

WW240

7,50

FCA Spain

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