Vietnamplus

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.

The cashew export target this year is 3.8 billion, USD only slightly up from 2021, according to the Vietnam Cashew Association.

The target of 3.8 billion USD in export revenue of cashew nuts for this year set by the Ministry of Agriculture and Rural Development (MARD) is quite feasible given the forecast on high demand for the product in the time to come, according to experts.

Exports of key agricultural products during January - September witnessed a strong surge in revenue.

The share of Vietnamese cashew nuts in Russia’s import of the product during the first half of 2021 reached 57.68 percent, increasing 7.4 percent year on year, according to statistics from the Federal Customs Service of Russia.

Vietnam’s cashew nut industry experienced a poorer-than-expected harvest this year. While it actually saw growth in exports, value declined. Disease and natural disasters counted among the causes, as did longstanding bottlenecks in productivity, output, and value, which need to be resolved quickly in order for Vietnamese cashew nuts to maintain their leading position in the market.

Vietnam imported nearly 1.2 million tonnes of raw cashew nuts worth 1.9 billion USD in the first four months of this year, increases of 300 percent and 323.5 percent year-on-year, according to the General Statistics Office.

The southern province of Binh Phuoc is soliciting investment in a series of infrastructure projects including airport and industrial parks in 2020-2025.

Vietnam has maintained its position as the world’s largest producer and exporter of cashew nuts in 2020, exporting an estimated 450,000 tonnes of cashew kernels worth 3.2 billion USD, according to the Vietnam Cashew Association (Vinacas).

The “One Commune, One Product” (OCOP) and farm producetrade fair in the northern region has been held in Lao Cai province.

Vietnam’s cashew exports are likely to increase in the remaining months of the year, prompted by surging demand, cashew firms have said.

Despite the difficulties posed by the COVID-19 pandemic, Vietnam’s cashew exports in the first half of the year increased by 16 percent in volume year-on-year and 1 percent in value to 232,000 tonnes and nearly 1.53 billion USD, according to the Vietnam Cashew Association (VINACAS).

Cashew exports are expected to surge in the latter half of the year once the COVID-19 pandemic is put under control.

Cambodian Minister of Agriculture, Forestry, and Fisheries Veng Sakhon has said that his country exported 300,000 tonnes of rice in the first four months of this year, up nearly 40.5 percent year-on-year.

Vietnam’s cashew sector aims to earn 4 billion USD in export turnover in 2020.

Vietnam raked in 221.47 million USD from exporting over 28,000 tonnes of cashew nut to China in the first half of this year, up 24.8 percent in value and 53.2 percent in volume year-on-year, according to the General Department of Customs.

Export revenues of agro-forestry-fishery products in April is estimated to hit 3.5 billion USD, pushing the figure in the first four months of this year to 12.4 billion USD, equivalent to the figure recorded in the same period last year, reported the Ministry of Agriculture and Rural Development.

Cashew prices are low at present, according to the Vietnam Cashew Association (Vinacas).

Although Vietnam is a leading exporter of cashew nut, the country’s export value remains modest as many enterprises are still dependent on imported materials.

In 2019, the Republic of Korea (RoK) will tighten rules related to use of pesticides for agricultural products it imports, and Vietnam is expected to be affected.