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  • Cashew industry has a large trade deficit after 31 years of exporting 07/22/2021

    Jul 22nd, 2021

    According to statistics of the General Department of Customs, the export of cashew kernels in June 2021 reached 58,746 tons, valued at USD 369.502, up 11.1% in volume and up 13.9% in value compared to June/June. 2020. In general, in the first 6 months of 2021, cashew exports reached 273,537 tons, worth USD 1.647 billion, up 21.8% in volume and 10.8% in value over the same period last year. In the opposite direction, Vietnam imported raw cashew nuts in June 2021, reaching 300,524 tons, worth 405,346 USD, up 10.6% in volume and 4.9% in value compared to June 2020. In the first 6 months of 2021, Vietnam imported 1,710,517 tons of raw cashews, worth $2.609 billion, up 168% in volume and 227.3% in value over the same period in 2020. Thus, in the first half of 2021, the cashew industry has a trade deficit of nearly 1 billion USD. This is also the first year that Vietnam recorded a trade deficit after 31 years of exports. This is a very good income after 31 years In the first half of 2021, the cashew industry has a trade deficit of nearly 1 billion USD In the first 6 months of 2021, Cambodia is the main market supplying raw cashew to Vietnam, accounting for 59.20% of the total volume and accounting for 65.09% of the country's total import turnover, reaching 1,012,688 tons, equivalent to 65.09% of the total import turnover of the country. equivalent to 1.698 billion USD, the average import price is 1,675 USD/ton. An increase of 5.22 times in volume and 6.87 times in price over the same period in 2020. According to businesses in this industry, in the past, importing raw cashew nuts from Cambodia had an average price of $1,200-1,250/ton, however, now the import price of raw cashews is above $1,600/ton, even There is an import declaration unit with the price of 1,900 USD/ton. However, according to the Vietnam Cashew Association, the price of 1,900 USD / ton is only available at the price of kernel, but raw cashew is very difficult. According to the Vietnam Cashew Association, the increase in cashew imports also has certain risks. Because the amount of imported white cashew kernels or dried silk shells has increased rapidly, this is not a raw material like raw cashew nut but a processed product. This is very difficult to control quality, especially food hygiene and safety. Therefore, it is easy to affect the reputation and general brand of Vietnamese cashew products in the world market. Accept the "game" of the market economy According to data from the Department of Crop Production (Ministry of Agriculture and Rural Development), in 2020, the cashew growing area nationwide will be 302.5 thousand hectares, an increase of 5.3 thousand hectares compared to the 2018-2019 crop year. ; average yield was 12.1 quintals/ha, increased by 1.8 quintals/ha; output is about 339.8 thousand tons, an increase of 53.5 thousand tons. Cashew crop year 2020 - 2021 due to relatively favorable weather conditions for good flowering and fruiting trees and so far the harvest has been completed, however, due to the relatively low purchasing price of cashew nut from 24,000 to 26,000 VND/kg of cashew fresh, so this year's cashew production efficiency decreased compared to every year. Mr. Nguyen Quoc Toan - Director of the Department of Agricultural Product Processing and Market Development (Ministry of Agriculture and Rural Development) - assessed that the increase in imports of raw cashews is making it difficult for domestic cashew farmers to find it difficult to consume fresh cashews. During the harvest season, enterprises increased imports of raw cashews, which pushed down the domestic price of fresh cashews when it was the harvest season. Domestic cashew prices decreased, but Vietnam still increased cashew imports, is this a paradox? In this regard, the Vietnam Cashew Association - said that at present, Vietnam has thousands of cashew processing and exporting enterprises, so the price competition from buying to selling is very fierce. In addition to domestic competition, enterprises also compete with other exporting countries such as India and African countries. In the time of the market economy, we have to accept the game, be fair with the world, want Vietnam's cashew industry to be better than others, how should farmers produce to achieve good productivity and quality? but cannot ask businesses to buy higher prices while the quality is not commensurate. Also according to the Vietnam Cashew Association, the story of imported raw materials and domestic production should not be distinguished. Because China is the largest exporter of goods in the world, but it is also the largest importer of raw materials in the world. Vietnam is the world's No. 1 cashew kernel exporter, but must accept the fact that it must import raw cashews for processing and export finished cashew kernels, as long as it creates surplus value for the country. Before the proposal to expand the cashew acreage in areas with suitable soil and climate conditions to help the cashew industry be more self-sufficient in raw materials and at the same time create more jobs and income for farmers. Mr. Nguyen Nhu Cuong - Director of the Department of Crop Production - said that the expansion of cashew acreage is a matter of careful consideration, because it must be based on local advantages whether it is suitable to increase the area or not. In particular, if the area is expanded but the competitiveness in price and quality is not better than imported goods, the business will certainly still import cashews. However, Mr. Nguyen Nhu Cuong also admitted that the dependence on imported materials also has certain risks when the main export markets for Vietnam step up processing, or increase selling prices... Therefore, The Ministry of Agriculture and Rural Development has been coordinating with localities to implement effective cashew orchard replanting programs to improve productivity and quality. On the other hand, cashew processing enterprises also need to coordinate with authorities to build material areas, promote deep processing, and increase added value for the cashew industry.


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