EXPORTED CASHEWS FOR QUARTER 4/2019: REVENUE 11 MONTHS APPROXIMATE 3 BILLION USD
According to data from the Import-Export Department (Ministry of Industry and Trade), cashew exports in November 2019 reached 40,000 tons, worth US $ 285 million, up 14.64% in volume and 2.9% in value compared to the November 2018.
After the first 11 months of 2019, cashew exports have brought approximately USD 3 billion to Vietnamese businesses.
Despite optimistic signs, compared to the same period last year, production increased to 21.5%, but the value decreased by 3.4%.
The reason is that in the 4 main export markets of the cashew industry, the United States, China, the Netherlands and Germany, there are two markets with a sharp decline in export value.
Specifically, the statistics of 10 months, cashew exports to the United States decreased by 18.1%, reaching 865 million USD, China reached 450 million USD, up 36%, the Netherlands reached 275 million USD, down 20.3% , Germany reached 110 million USD, up 17.5% …
Despite cashew exports in the context of many difficulties, Vietnamese businesses still strive to focus on improving the quality of products to increase competitiveness in the international market.
In recent years, Vietnam’s cashew exports (HS 080132) next year are often higher than the previous year. In 2017, the country exported over USD 3.52 billion, higher than the USD 2.8 billion of 2016; US $ 2.4 billion in 2015; 2 billion USD in 2014; …
With this impressive result, for many consecutive years, Vietnam has become the world’s No. 1 cashew export country. However, in 2018, cashew exports decreased slightly compared to 2017, reaching US $ 3.37 billion, down 4.2% due to reduced export prices.
Although it is the world’s No. 1 exporter, the added value of the cashew industry is not high. The cashew industry in Vietnam needs to move to the second period, focusing on doubling the production, processing and export value of the industry.
The country has 1,000 cashew processing facilities, with a capacity of 1 million tons of products/ year and nearly 400 enterprises participating in cashew exports, of which the number of enterprises with a turnover of less than US $ 5 million/ year accounts for 73 %.
The main markets consuming cashew nuts of Vietnam such as the EU, China, the United States, the United Kingdom, Thailand, the Philippines, Singapore… It is forecast that cashew nut exports in 2019 will reach 3.3 billion USD.
For more than 6 years in the field of agricultural exports, ASIA COMMODITIES is one of the successful pioneers in exporting cashew and key agricultural products such as coffee, pepper, rice and soy beans to neighboring countries and the world.
Asia Commodities proudly brings to our international friends the clean and elite products of Vietnamese agriculture. The high quality of these products, including cashew nuts, is the key to building strong trust with domestic and foreign partners.
Currently, Asia Commodities products are available in the US – one of the most demanding markets in the world, spread throughout Asia and Europe.
In the near future, Asia Commodities will try to diversify and improve product quality, promote cooperation plans and expand exports.
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