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  • May 2023: Cashew nut exports increased by nearly 12% 06/30/2023

    Jun 30th, 2023

    The Import-Export Department (Ministry of Industry and Trade) quoted statistics from the General Department of Customs as saying that, in May 2023, Vietnam's cashew exports reached 57.42 thousand tons, worth $340.39 million, an increase 11.7% in volume and 11.4% in value compared to April 2023; compared to May 2022, an increase of 15.1% in volume and 11.7% in value. With this figure, Vietnam's cashew exports reached the highest level since July 2021. May 23, 2023 Preliminary processing of cashew nuts for export In the first 5 months of 2023, Vietnam's cashew exports reached 219.87 thousand tons, worth 1.29 billion USD, up 8.3% in volume and 6.3% in value over the same period last year. last year. In May 2023, the average export price of Vietnam's cashew nuts reached US$5,928/ton, down 0.3% compared to April 2023 and down 2.9% compared to May 2022. Generally in the first 5 months of 2023, the average export price of Vietnam's cashew nuts reached $5,881/ton, down 1.9% over the same period in 2022. In May 2023, cashew nut exports to many key markets have the potential to increase compared to the same period in 2022, except for the United Arab Emirates. In the first 5 months of 2023, cashew nut exports to the United States, the Netherlands, Germany, Australia... decreased, but exports to China, the UK, the United Arab Emirates, Canada, and Japan increased. . Currently, the main sources of cashew nuts for China include: Vietnam, Benin, Ivory Coast, Cambodia and Togo. According to statistics from China Customs, in the first 4 months of 2023, China reduced cashew imports from Vietnam, but increased cashew imports from Benin, Ivory Coast, Cambodia and Togo sources. ... However, the volume and value of imports from these markets remained low. If this trend persists, these will be the competitors of the Vietnamese cashew industry in the Chinese market. On the other hand, tracking statistics can see that China tends to increase the import of raw and preliminarily processed cashew nuts, and reduce the import of intensively processed cashew nuts. In the Canadian market, Vietnam is currently the largest source of cashew nuts for this market. However, according to statistics from the International Trade Center, Vietnam's cashew nut market share in Canada's total imports decreased sharply, from 91.48% in the first 4 months of 2022 to 76.71%. in the first four months of 2023. In contrast, Canada sharply increased its imports of cashew nuts from the markets of Brazil, Ivory Coast, Ghana, the United States... As can be seen, the supply of cashew nuts for Canada has shifted from Vietnam to markets in South Africa, the United States, the Netherlands ... In the world market, recently, the world's leading cashew nut producing country raised its output forecast in 2023. Specifically, the Ivory Coast Cotton and Cashew Council announced and forecast the country's cashew output. This West Africa was revised up 22% to a record 1.25 million tonnes. Thus, Ivory Coast, the world's largest cocoa producer, has become the world's leading producer of cashew nuts, with an annual output of about 1 million tons. Earlier, the initial production forecast was given at about 1.05 million tons in 2023, up from 1.028 million tons in 2022. By June 2023, local processors had taken on 249,000 tonnes of cashews out of the 300,000 tonnes target for the 2023 crop year. At the same time, Ivory Coast has also exported 593,000 tonnes of cashews to Vietnam and India. , compared with 455,315 tons in the same period last year. Currently, Ivory Coast is trying to increase the amount of locally processed cashews, in the next few months 4 cashew processing industrial parks under construction in the north and central part of the country will come into operation and promote domestic processing capacity.