Cashews: right on track

November 15, 2023 at 9:53 AM , Der AUDITOR
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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













FOB India


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