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.
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 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.
Vietnam’s multi-sector T&T Group has purchased the Ivory Coast’s entire stock of raw cashew nuts, or 150,000 tonnes, under a contract signed with the African country late last month.
T&T Group defeated won a bidding to purchase more than 13,600 tonnes out of over 20,000 tonnes of raw cashew nuts from Tanzania at an auction session held by the Tanzanian government on October 31.
The Vietnam Cashew Association (Vinacas) has recently held a conference to review the industry’s performance in the first seven months of 2019 and seek solutions to the problems facing it.
Domestic cashew processing enterprises have been facing difficulties due to a new regulation that requires additional checks on raw materials imported from African ports.
Vietnam will need to import more than 300,000 tonnes of raw cashew nuts in the remaining months of the year for processing to meet the demand of importers, according to processing companies.
Vietnamese importers have stopped buying raw cashew from Africa due to high prices, a representative of the Vietnam Cashew Association (VINACAS) said at a conference in HCM City on February 27.
Although global cashew demand is predicted to continue rising, the Vietnam Cashew Association (Vinacas) and cashew processors and exporters are worrying about a high price trap which may affect their activities in 2018.
The Vietnamese cashew sector is working with Cambodia’s Ministry of Agriculture, Forestry and Fisheries and Cambodian firms to develop a 1-million-tonne cashew material region in Cambodia.
As of August 15, 2017, Vietnam imported over 994,300 tonnes of raw cashew nuts, worth about 1.92 billion USD, up 54 percent in volume and 98.2 percent in value year on year.
About 500,000 tonnes of material cashew nuts will be imported from now to October to serve processing and meet the targeted export volume of 360,000 tonnes of cashew nuts this year.
Vietnamese cashew nut processing firms plan to import 450,000 tonnes of raw materials worth over 600 million USD this year, according to the Vietnam Cashew Association.
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