Cashews: Vietnam's good reputation at risk
July 31, 2024 at 11:14 AM ,
Der AUDITOR
Cambodia is the most important supplier of RCN
As reported by the Vietnam Cashew Association (Vinacas) with reference to the Ministry of General Customs, the country exported more than 353,500 mt of cashews in the first half of 2024, a significant increase of 26.2% compared to last year; the export value totalled almost USD 1.95 billion, an increase of 18.7% compared to the same period last year.
However, in order to be able to export such large quantities, processors are initially reliant on high imports, as Vietnam is far from being able to meet demand on its own. Vinacas states that almost 1.5 million mt of raw cashew nuts were imported into Vietnam in the period mentioned, which is 8.4% more than in the same period last year. Imports from Cambodia alone rose by a whopping 36.7% to 780,700 mt worth just under USD 1 billion. In addition to Cambodia, Vietnamese importers primarily source their goods from African origins.
New scam harms traders and consumers
A problem that has recently become more prevalent is that low-quality cashews are being imported into Vietnam and labelled as local brands, causing serious damage to the reputation of Vietnamese products. For example, the cashew association from Binh Phuoc, one of Vietnam's most important production centres, recently had to announce that poor-quality nuts were being sold on the internet that were falsely labelled as goods from this province. These inferior nuts are susceptible to pests and mould, which both affects the taste and endangers the health of consumers.
After the prices for Indian cashew nuts remained stable for a long time and were only subject to minor fluctuations, there have been slight but noticeable increases in the last two weeks. Cashew kernels, W320 are currently trading at USD 7,930/mt FOB India.
|
Cashews, India |
|
|
Type |
USD/mt |
|
LP-1 9/15 |
9,855 |
|
LWP |
6,585 |
|
SWP |
5,920 |
|
W320 |
7,930 |
|
W450 |
7,215 |
|
FOB India |
|
Germany's imports almost at last year's level
Germany's cashew imports in the period from September 2023 to May 2024 remained almost at the previous year's level, with only a nominal decline of 1.2%. Vietnam remains by far the most important supplier, followed by Cote d'Ivoire and the Netherlands. Imports from Nigeria increased significantly by 43.3%, while India suffered a decline of 22.4% in its shipments to Germany. The country imported a total of 47,064 mt of cashews in the period mentioned.
|
Cashew imports, Germany, in mt |
|||
|
Supplier |
2022/23 |
2023/24 |
Diff. |
|
Vietnam |
30,224 |
29,867 |
-1.2% |
|
Cote d'Ivoire |
6,316 |
6,704 |
6.1% |
|
Netherlands |
7,009 |
6,393 |
-8.8% |
|
Nigeria |
501 |
718 |
43.3% |
|
Burkina Faso |
619 |
662 |
6.9% |
|
India |
843 |
654 |
-22.4% |
|
Others |
2,100 |
2,066 |
-1.6% |
|
Total |
47,612 |
47,064 |
-1.2% |
|
Federal Statistical Office of Germany / Sep-May 08013200 Fresh or dried cashew nuts, shelled |
|||
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