Vietnam's exports in the first half of 2024 are quite impressive, and many destination countries have increased their purchase volumes. Meanwhile, prices in India remain stable.
Significant increase in exports
As reported by the Vietnam Cashew Association (Vinacas), Vietnam exported a total of 353,528 mt of cashews to 33 destination countries in the first half of 2024, an increase of 26% compared to the same period last year. Only seven of Vietnam's export destinations recorded a decline, while exports to 26 countries increased. In terms of sales, the three markets with the largest Vietnamese cashew export sales in the first half of 2024 are the USA with USD 505 million, an increase of 16% year-on-year; China with USD 362 million, an increase of 39%, and the Netherlands with USD 168 million, an increase of 7% year-on-year. The total value of cashew nuts exported to these three markets reached USD 1.03 billion, accounting for 53% of Vietnam's export turnover of this product. The largest increase was recorded in Lithuania, which imported 144% more cashews from Vietnam, while Pakistan experienced the sharpest decline at -81%. With a turnover of USD 63 million, Germany is also one of the most important export markets for Vietnamese cashew nuts.
Stable prices in India
Prices on the Indian market have only changed slightly compared to last week. Overall, they have been very stable so far in July with only nominal fluctuations. Cashew nuts, W320 are currently trading at USD 7,915/mt FOB India.
Type
USD/mt
LP-1 9/15
9,855
LWP
6,570
SWP
5,905
W320
7,915
W450
7,200
FOB India