Nuts

Cashews: Vietnam shows impressive exports

September 29, 2021 2:16 PM, Der AUDITOR
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HANOI. According to the latest data from Vinacas, Vietnamese exports have increased significantly year-on-year in the first eight months of 2021. Consequently, imports are also much higher than in 2020.

Imports increase by 125%

The Vietnam Cashew Association (Vinacas) recently published Vietnam's latest import and export data - and they are impressive. In August, the country imported 274,736 mt of RCN, which is an increase of almost 19% compared to August 2020. Total imports in the first eight months of 2021 even increased by almost 125% year-on-year and amount to 2.43 million mt.

Shipments to China 30% higher

Exports also recorded significantly higher figures than last year. In August, Vietnam shipped 50,747 mt of cashew kernels overseas, 5.15% more than in the same month last year. Year-to-date exports of 395,892 mt are actually almost 23% higher than in the January-August 2020 period.

With 15,647 mt, the USA was again among the most important buyers of Vietnamese cashews in August. Year-to-date, Vietnam shipped a total of 107,080 mt to the United States, a good 8% more than in the same period last year. Another large share is accounted for by shipments to China, which totalled 4,565 mt in August and 36,646 mt in the January-August 2021 period. This represents an increase of almost one third compared to the same period last year. The situation is similar for shipments to the EU and other export countries, which are summarised here and for which total exports are 30,534 mt.

Subdued demand

As the experts at cornhouse.nl report, the markets in the EU and the USA are currently relatively quiet and there is less buying than initially hoped for. The next crops to reach the markets are those from Tanzania and Indonesia. In both cases, there is no bad news so far regarding crop volume and quality. Current estimates are around 220,000 mt in Tanzania and 120,000 mt in Indonesia. However, with the relatively weak demand at the moment, it is difficult to estimate how much Vietnamese and Indian processors will buy. In a few months, the crops from India, Vietnam and Cambodia will also be available, which will exert additional pressure.

On the European spot market, prices have increased slightly compared to last week and are currently at EUR 7.45/kg FCA Spain for Vietnamese cashews, WW240.

Cashew kernels, Vietnam

Type

EUR/kg

Large white pieces

4.25

WW240

7.45

FCA Spain

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