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  • Cashew export price in the first 5 months of the year decreased by 11% 06/07/2021

    Jun 7th, 2021

    According to the Import-Export Department (Ministry of Industry and Trade), Vietnam's cashew exports in May reached 55,000 tons, worth 339 million USD, up 13.4% in volume and up more than 18% in value over the previous month. 4. Cashew exports in May increased by 28.6% in volume and 29% in value over the same period in 2020. In general, in the first 5 months of the year, Vietnam's cashew exports were estimated at 216 thousand tons, worth nearly 1.3 billion USD, up more than 18% in volume and nearly 5% in value over the same period in 2020. The average export price of cashew nuts in May is estimated at USD 6,164/ton, up 4.2% compared to April and unchanged compared to May 2020. Generally in the first 5 months of the year, the average export price of cashew nuts was estimated at US$5,953/ton, down 11.4% over the same period in 2020. According to the Vietnam Cashew Association (VINACAS), the price of cashew kernels decreased slightly due to less buying volume and high selling demand. Foreign customers assessed that the amount of raw cashew nuts in the world did not decrease compared to last year as previously reported. Even the amount of cashews may increase, so businesses need to calm down, consider the market, and probe the purchase price of supermarkets and roasters before buying more. In addition, the freight in June may increase by 2000-3000 USD/cont 20 feet and still lack of containers, so customers are afraid to import more goods at this time. However, customers who already have an old contract with the roaster still have the need to buy to fulfill the contract. Although, customers are still buying slowly, but the kernel price has not decreased much because processors have to buy raw cashew nuts at a high price. VINACAS recommends that if Vietnamese processors have good financial capacity and agree to keep prices, they will keep good prices and avoid losses in production and business. The reason is that a large amount of raw cashew nuts this year is being held by some large traders and they may not sell to the market at a low price, so the price of raw cashew is unlikely to go low. Therefore, if selling at a low price, the risk is high. According to VINACAS, the purchasing power of Chinese traders is better than last year. However, customers buy many products roasted with salt and small seeds. Many e-commerce companies are successful in selling online, including cashews. They are buying white cashew kernels W240 priced at 8.4 USD/kg, W320 priced at 7.5 USD/kg packed in tin boxes, delivered at a Vietnamese factory.


    Source: http://www.vinacas.com.vn/
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