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

Downtown area in Ho Chi Minh City. (Photo: VNA)

Vietnam's golden gateway: FDI poised for gains in 2026

More than just volume, the quality of FDI entering Vietnam has improved. The nation is evolving from a base for basic assembly and processing into a genuine contributor to hi-tech manufacturing and R&D across global value chains.

Deputy Minister of Finance Do Thanh Trung speaks at the ceremony (Photo: VNA)

Project to advance growth, innovation, leadership for enterprises kicks off

AGILE is not only a testament to the long-standing and trusted strategic partnership between Vietnam and Canada, but also an important contribution to the Vietnamese Government’s efforts to promote innovation and sustainable growth within the private sector, thereby effectively mobilising private investment to realise inclusive and sustainable development goal.

At Regza Vietnam Electronics Co., Ltd. in Dong Nai province. (Photo: VNA)

FDI disbursement in January hits five-year high

Economists said that the continued growth in realised FDI reflects foreign investors’ sustained implementation and expansion of production and business activities in Vietnam. This is seen as an encouraging signal, underscoring investors’ confidence in Vietnam’s business environment and economic prospects.

In Q1 2026, Vietnam records 16 export commodities with turnover exceeding 1 billion USD. (Photo: VNA)

Exports face stiff test in bid to hit 550 billion USD

To achieve export growth of over 15% as directed by the Government, the MoIT said it will prioritise a set of core measures in 2026, including expanding production capacity, developing new export products, increasing domestic content and value added, accelerating the shift from processing to manufacturing, and proactively addressing trade barriers and defence measures.

Illustrative photo (Photo: VNA)

January CPI rises on stronger Tet holiday demand

CPI in January 2026 rose 0.05% month-on-month, with urban areas up 0.02% and rural areas up 0.09%. Of the 11 major commodity and service groups, nine recorded price hikes while two saw declines.

Vietnam is currently Cambodia’s third-largest trading partner worldwide, after China and the US, and its largest trading partner within ASEAN. (Photo: Ministry of Industry and Trade)

Party chief’s Cambodia visit to open up new phase of deeper, closer cooperation

To further unlock the potential of bilateral economic and trade cooperation, Vietnam and Cambodia should continue reviewing and effectively implementing signed agreements, facilitating trade and border connectivity, strengthening trade promotion in complementary sectors, reforming administrative procedures, upgrading border and logistics infrastructure, and enhancing coordination in combating smuggling and trade fraud.

Investors monitor stock market movements at the HoSE trading floor. (Photo: VNA)

VNX, FTSE Russell discuss Vietnam market upgrade

During the working session, the two sides shared updates on the performance of Vietnam’s stock market in 2025, focusing on market capitalisation, index trends, developments in the equities, bond and derivatives segments, and the continued expansion of the investor base.

Vietnamese products continue to gain traction at traditional markets and supermarkets across Ho Chi Minh City (Photo: VNA)

Vietnamese goods dominate Tet market in Ho Chi Minh City

Despite still-muted purchasing power, Vietnamese products continue to gain traction at traditional markets and supermarkets across Ho Chi Minh City, as consumers increasingly prioritise locally made goods, from fresh food and fast-moving consumer items to processed products, for their stable quality, reasonable prices and transparent origins.