Cashews: Vietnam remains export leader
February 14, 2024 at 11:37 AM ,
Der AUDITOR
Côte d'Ivoire and Cambodia are the most important suppliers
Cashew nuts are an important product that earns Vietnam billions of dollars every year and makes the country the world's leading exporter. However, the Vietnam Cashew Association (Vinacas) repeatedly points out that large quantities of RCN need to be imported from other growing countries. In 2023, Côte d'Ivoire was the most important supplier for Vietnamese producers; a total of 899,430 mt of RCN worth more than USD 969 million were imported from the African country, with an average price of USD 1,078/mt.
Neighbouring Cambodia is also an important supplier country for Vietnam. Shipments to Vietnam exceed those of other Asian countries, with a total of 644,191 mt of cashew nuts worth USD 836 million being delivered from Cambodia to Vietnam last year. This represents a decrease of 9% in volume and 23% in value compared to the previous year, according to Vinacas. This means that 98.5% of Cambodian exports go to Vietnam. The quality of the cashew nuts is high, but Cambodia still lacks the technical facilities to process them accordingly; however, this is set to change in the near future.
Indian prices are falling
Data recently released by Vietnam's Ministry of Customs shows that Vietnam's exports in December 2023 totalled 111,942 mt worth USD 123 million, down 21.5% in volume and 16.7% in value compared to the previous month. Vietnam's total exports in 2023 were 2.7 million mt worth USD 3.1 billion.
Cashew prices in India have fallen in recent weeks. Cashew kernels, W240 currently cost USD 8,585/mt FOB India.
|
Cashews, India |
|
|
Type |
USD/mt |
|
SWP |
5,925 |
|
LWP |
6,590 |
|
W240 |
8,585 |
|
W320 |
7,935 |
|
W450 |
7,220 |
|
FOB India |
|
Germany's imports on the rise
Germany's cashew imports continue to grow. According to the Federal Statistical Office, the country imported a total of 67,007 mt in 2023, an increase of 11.7% compared to the same period last year. Vietnam remains by far the most important supplier with 43,533 mt, which is 8.1% more than in the previous year. The Netherlands (+29.3% to 8,493 mt) and the Côte d'Ivoire (+54.8% to 8,346 mt) are in a neck-and-neck race for second place among Germany's most important suppliers, but despite their percentage increase they are still nowhere near Vietnam. Germany's imports from India and Honduras, however, fell significantly in 2023.
|
Cashew* imports, Germany, in mt |
|||
|
Supplier |
2022 |
2023 |
Diff. |
|
Vietnam |
40,279 |
43,533 |
8.1% |
|
Netherlands |
6,570 |
8,493 |
29.3% |
|
Côte d'Ivoire |
5,392 |
8,346 |
54.8% |
|
India |
1,367 |
1,129 |
-17.4% |
|
Burkina Faso |
613 |
1,079 |
76.0% |
|
Honduras |
2,271 |
31 |
-98.6% |
|
Others |
3,485 |
4,396 |
26.1% |
|
Total |
59,977 |
67,007 |
11.7% |
|
Federal Statistical Service of Germany / Jan-Dec *08013200 Fresh or dried cashew nuts, shelled |
|||
View more
- price charts for edible nuts
- price charts for dried fruit, oilseeds, spices and more
View related articles
