Business

Cashew industry faces huge challenges

Vietnam exported over 206,000 tonnes of cashew nuts worth 1.19 billion USD in the first five months of 2022, down 7.81% in volume and 6.81% in value, the Vietnam Cashew Association (VINACAS) reported.
Cashew industry faces huge challenges ảnh 1Illustrative image (Photo: VNA)

HCM City (VNA) – Vietnam exported over 206,000 tonnes of cashew nuts worth 1.19 billion USD in the first five months of 2022, down 7.81% in volume and 6.81% in value, the Vietnam Cashew Association (VINACAS) reported.

Although the turnover decreased, the average export price increased by 1.45% compared to the same period in 2021, reaching about 5,792 USD per tonne.

According to VINACAS, the cashew industry is facing many difficulties due to an unfavorable world market.

Exports for the whole year are likely to be lower than in 2021, it said.

During the reviewed period, Vietnamese cashew businesses imported about 968,000 tonnes of raw cashew nuts with a total value of nearly 1.4 billion USD, down 35.24% in volume and 37.84% in value.

However, the price of raw cashew imported from Africa increased by 15-20 percent this year compared to the same period last year.

The cashew crop this year came later due to the effects of climate change. There were also signs of pests and diseases in major cashew growing areas.

The price of raw cashew nuts and the cost for processing are high, making it difficult for processing factories to break even, said Tran Van Hiep, Vice Chairman of VINACAS.

According to Hiep, the Russia-Ukraine conflict and global inflation are affecting Vietnam's exports of cashew nuts.

Last year, Russia was the 11th largest importer of Vietnamese cashew nuts with an export value of nearly 62 million USD. Since the Russia-Ukrainia conflict occurred, exports to Russia have faced payment difficulties.

Increasing inflation in many countries, along with the zero-COVID policy of China - one of Vietnam's major export markets – have also adversely affected the export of cashew nuts and other agricultural products from Vietnam, experts said.

Exports in 2022 are forecast to face more difficulties due to high shipping costs, they noted.  

Vietnam is set to earn 3.8 billion USD from exporting cashew nuts in 2022, 200 million USD higher than last year, Hiep said.

However, in the current context, VINACAS has proposed to adjust the goal to 3.2 billion USD, down 400 million USD compared to 2021./.

VNA
#Vietnam Cashew Association (VINACAS) #cashew nuts #raw cashew #climate change #Russia-Ukrainia conflict #Vietnam #Vietnam news #Vietnam News Agency
Follow VietnamPlus

Related News

Vietnam’s cashew nut exports fall slightly

Vietnam’s cashew nut exports fall slightly

Vietnam shipped a total of 105,000 tonnes of cashew nuts abroad in Q1, earning 630 million USD, down 6.7 percent in volume and 5 percent in value compared to those in the same period of last year, according to the General Department of Vietnam Customs.

See more

Vietnamese Minister of Construction Tran Hong Minh and Korean Minister of Land, Infrastructure and Transport Kim Yun-duk hold talks on April 21 in Hanoi. (Photo: The Courtesy of the Ministry of Construction)

Vietnam, RoK step up cooperation in transport infrastructure

Minh noted that in transport, the RoK is currently Vietnam’s second-largest bilateral donor. Since 1996, the Korean Government has provided significant capital for Vietnam’s transport infrastructure, with nine projects completed to date, totalling over 1 billion USD, and six others underway worth nearly 600 million USD.

Illustrative image (Photo: VNA)

Technology bolsters growth confidence among Vietnam’s small businesses

The survey also indicates that this growth is expected to continue into 2026, with 89% of Vietnamese small businesses planning to expand operations. This outlook is fueled by a strong emphasis on embracing technology, expanding e-commerce, and enhancing corporate governance capabilities.

Fuel prices see a sharp decline in the latest adjustment. (Photo: VNA)

Fuel prices continue sharp drop in latest adjustment

The price of E5RON92 biofuel is capped at 21,934 VND (0.83 USD) per litre, down 658 VND per litre from the previous level, while RON95-III gasoline now costs no more than 23,042 VND per litre, a decrease of 719 VND per litre.

1st floor, No. 05 Ly Thuong Kiet Street

Notice of Office Auction in Hanoi

The Office of the Vietnam News Agency will conduct an auction for office leasing at No. 05 Ly Thuong Kiet street, No. 79 Ly Thuong Kiet street, No. 33 Le Thanh Tong street, and No. 11 Tran Hung Dao street in Cua Nam ward, Hanoi.

The opening ceremony of the Mining & Construction Vietnam 2026 exhibition. (Photo: VNA)

Expo promotes smart mining and green construction solutions in Vietnam

Mining & Construction Vietnam 2026 showcases a wide range of new technologies and trends, including advanced mining equipment, modern mineral processing technologies, sustainable and energy-efficient infrastructure solutions, as well as automation and digital transformation in management and operations.

An aircraft of Vietravel Airlines (Photo: VNA)

Vietravel Airlines moves to add nine aircraft

This aircraft marks the first in a plan to add nine more planes over the next six months. Continued induction of Airbus A321 aircraft throughout 2026 will allow the airline to optimise scheduling, improve efficiency and better meet growing market demand.

The Long Hai Co., Ltd., located in Industrial Cluster No. 1 in Thach Khoi ward, Hai Phong city, produces hundreds of tonnes of goods annually for both domestic consumption and export. (Photo: VNA)

State – private synergy key to Vietnam’s growth ambitions

Vice Chairman of the Ho Chi Minh City People’s Committee Nguyen Manh Cuong stressed the need for greater input from academia, experts and businesses to assess the feasibility of double-digit growth targets in the coming period. This will help the city identify new growth drivers and design policies to better tap its development potential.

Finance Minister Ngo Van Tuan speaks at the first session of the 16th National Assembly (Photo: VNA)

Achieving double-digit growth challenging but essential: Minister

Since 1946, only 13 economies worldwide have sustained double-digit growth for over a decade to transition from low-income and developing to developed status. During Vietnam’s 40 years of renewal, growth has exceeded 9% only twice and has never reached double digits.

Vegetables and fruits remain among the key foreign currency earners of Lam Dong province, with export turnover estimated at 30.42 million USD in the first quarter of 2026. (Photo: VNA)

Vietnam’s fruit sector reaches new milestones

In the first quarter of 2026, Vietnam’s fruit and vegetable exports rose 31.4% year-on-year to 1.53 billion USD, driven by strong demand in China and growing shipments to major markets including the US, Japan, and Europe.

Inside Bach Dang shipbuilding factory (Photo: VNA)

Vietnam's industry spearheads transition to circular economy

The circular economy is no longer just a policy choice. It has become an inevitable trend for delivering sustainable and green growth, sharpening competitiveness at home and abroad, and meeting Vietnam’s net-zero emissions target by 2050. It is now a prerequisite to sustain long-term economic expansion, particularly in industrial production and supporting industries.

Algerian officials, representatives of foreign embassies, and numerous global oil and gas companies attend the Bid Round. (Photo: VNA)

Vietnam joins int'l bidding for oil and gas exploration in Algeria

Currently, PVEP is involved in oil exploitation at Blocks 433a and 416b of the Bir Seba field in the Hassi Messaoud area, Ouargla province, located more than 600 km south of Algiers. The project stands as one of Petrovietnam’s most successful overseas ventures, demonstrating the operational capacity and technical expertise of Vietnamese engineers on the global stage.