Affected by 19 covid, but Vietnam still increased the volume of cashew exports

In the first 5 months of 2020, cashew exports reached 184 thousand tons, worth more than US $ 1.2 billion, up 17.8% in volume and up 2.2% in value over the same period in 2019.

The volume of cashew exports increased in the first 5 months of 2020 compared to the same period

According to the Import and Export Department, cashew nut export in May was estimated at 45 thousand tons, worth 280 million USD; up 1.2% in volume but down nearly 4% in value compared to April; up nearly 9% in volume but down 7.7% in value compared to May 2019.

Generally in the first 5 months of 2020, cashew exports reached 184 thousand tons, worth more than US $ 1.2 billion; up 17.8% in volume and up 2.2% in value over the same period in 2019.

cashew nut export in May was estimated at 45 thousand tons, worth 280 million USD

Image: Internet

According to statistics from the General Department of Customs, cashew exports in April reached 44.48 thousand tons, worth US $ 291.23 million; up 1.2% in volume, but down 5.8% in value compared to in March 2020; an increase of 24.3% in volume and 7.4% in value compared to April 2019.

Generally for the first 4 months of 2020, cashew exports reached 139.3 thousand tons, valued at US $ 959.5 million; up 21.1% in volume and 5.5% in value over the same period in 2019.

According to estimates, the average export price of cashew in May stood at 6,222 USD / ton, the lowest level in many years; down 5% compared to April and down 15.2% compared to May 2019.

Generally in the first 5 months of 2020, the average export price of cashew nuts reached US $ 6,725 / ton; down 13.3% over the same period in 2019.

Cashew export market

In April, cashew nut exports to some markets grew at a double-digit rate compared to April 2019; including the US, the Netherlands, Australia and Japan.

The average export price of cashews to 10 markets reached the highest level in April and the first 4 months of 2020

The average export price of cashews to 10 markets reached the highest level in April and the first 4 months of 2020.Source: Import and Export Department

In contrast, cashew exports to the UK and Israel markets decreased. Generally for the first 4 months of 2020, cashew exports to the US and the Netherlands increased; while exports to China decreased.

In April, exports of a variety of cashew nuts increased compared to April 2019; such as: W320, W240, WS / WB, W180, SP.

In contrast, exports of some types of cashew nuts decreased, including: W450, W210, DW. According to calculations from the General Department of Customs, in April, W320 cashew nut exports reached 19.3 thousand tons, worth US $ 130.61 million; up 32.4% in volume and up 14.5% in Worth compared to April 2019.

Vietnam Cashew Association stated that COVID-19 has clearly showed its double impact on the world cashew industry.

Vietnam Cashew Association stated that COVID-19 has clearly showed its double impact on the world cashew industry.

Image: Asiacom.vn

Accordingly, deep processing cashews sometimes out of stock in supermarkets in Europe and the US. This is one of the reasons why the amount of cashew nuts imported into the US and Europe increased sharply in February to April.

For example, in the opposite direction, the ice cream industry in India has fallen sharply, cashew kernels are often mixed into ice cream; so the recent consumption of tanks in India has dropped sharply and prices have dropped sharply.

Reference source: https://vietnambiz.vn/

See more: Latest price list of Vietnamese cashew nuts in 2020