Nuts

Cashews: right on track

November 15, 2023 at 9:53 AM , Der AUDITOR
Play report as audio

HANOI. Vietnam Cashew Association (Vinacas) is highly confident that the country will meet this year's export target as demand should pick up before the holidays. Exports have been quite good so far. Imports are also up.

Rise in imports and exports

Vietnam's cashew imports have risen sharply this year as Vinacas reports that 2.52 million mt of raw chashew nuts worth USD 2.93 billion were imported in January-October 2023. This is 45% up in terms of volume and 18% up in terms of value on the same period last year. Exports have also risen sharply. Vietnam, in fact, shipped 517,000 mt of cashew kernels worth USD 2.95 billion overseas. This is 22% up in terms of volume and 16% up in terms of value on last year. Monthly exports reached 64,230 mt worth USD 338 million in October. Average export prices ranged at USD 5,569/mt, which is 2% higher than last year.

The USA and China are the most important export destinations for Vietnam and accounted for 43% of the total export value in the first ten months of the year. While the USA purchased cashew kernels worth USD 733 million, which is 5% up on last year, China spent USD 522 million on cashew kernels from Vietnam, which is 47% up on last year. Shipments to the Netherlands (20% tp USD 295 million), Germany (8% to USD 99 million) and Thailand, Saudi Arabia and Canada along with the United Arab Emirates and the UK also saw sharp increases. Contrary to this, shipments to Austaria declined a bit. 

Approaching the target

Vinacas expects that shipments will reach or even exceed this year export target of USD 3.1 billion, especially since the holiday season tends to boost demand. Cashews are trading lower in India with quotations for W240 cashew kernels ranging at USD 8,520/mt FOB India.

Cashews, India

Type

USD/mt

LWP

6,525

SWP

5,860

W240

8,520

W320

7,870

W450

7,155

FOB India

 

View more
price charts for edible nuts
price charts for dried fruit, oilseeds, spices and more

View related articles

Go to the News Overview
Nuts
May 27, 2024
CANBERRA/REUS. China and Hong Kong purchased a record volume exceeding 90,000 mt of in-shell macadamias in 2023. Strange sales patterns have emerged in South Africa, Australia and Kenya. Drought is an issue in Mexico and Guatemala. Global production estimates are upbeat for 2024.
Nuts
May 24, 2024
MADRID. Exports have picked up for almonds in Spain. Crop estimates for 2024/2025 have emerged. Prices are a troublesome matter.
Nuts
May 23, 2024
MADRID/SACRAMENTO. Urgent calls for permission to treat organic crops with pesticides in areas affected by extreme drought in Spain contradict assertions that quality is more important than quantity for almonds. Pricing is also an issue in California, but for quite different reasons.
Nuts
May 22, 2024
NEW DELHI/BUENOS AIRES. India has started exporting the summer crop and international buyers can secure attractive offers here. In North and South America, the situation is partially very tense, which is mainly due to the shortage of goods.