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  • Cashew nut exports in 9 months of 2022 reached 2.29 billion USD 10/10/2022

    Oct 10th, 2022

    According to the Import-Export Department (Ministry of Industry and Trade), citing data from the General Department of Customs, it is estimated that in September 2022, cashew nut exports will reach 40,000 tons, worth 245 million USD, down 14.6% in volume. and 10.3% decrease in value compared to August 2022; compared to September 2021, down 22.2% in volume and 28.2% in value. Expiry date 9 months of the year 2022 with a total value of 229 billion USD Cashew nut exports in 9 months of 2022 reached 2.29 billion USD In the first 9 months of 2022, cashew nut exports are estimated at 382 thousand tons, worth 2.29 billion USD, down 10.6% in volume and 14% in value over the same period in 2021. In September 2022, the average export price of Vietnam's cashew nuts was estimated at $6,136/ton, up 0.5% compared to June 2022, but down 7.7% compared to September 2021. In the first 9 months of 2022, the average export price of Vietnam's cashew nuts is estimated at 5,992 USD/ton, down 3.7% over the same period in 2021. Armed conflict between Russia and Ukraine affects Vietnam's cashew exports. The recession of major economies, high inflation makes consumers tend to increase savings. This will be a barrier for the US to reduce cashew imports in the remaining months of 2022, although consumption demand may increase at the end of the year (according to the cyclical factor). High-priced products are likely not going to be the choice of many people in the context of the not-so-good economic situation. However, the market still showed a positive signal when the demand for cashew imports from the EU and China still increased strongly. Therefore, Vietnam's cashew industry needs to exploit the advantages that new-generation free trade agreements bring to boost exports to these markets. Currently, exports of most types of cashew nuts have increased, except for W240 and DW cashews. Export proportion of W320 cashew nuts accounted for 41.31% of the total volume and 45.53% of the total value; W240 cashew nuts accounted for 14.03% of the total volume and accounted for 16.28% of the total value.


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