Domestic cashew nut price increased positively compared to the previous month

The United States, the Netherlands and China are the three largest cashew import markets of Vietnam, accounting for 35.2%, 13% and 10.6% of total cashew export value respectively.

In the first 6 months of 2020, the value of cashew exports increased the most in Japan (up 88.6%), while the market with the largest decrease in cashew nut exports was Russia, down 40.8%. The average export price of cashew nuts in the first 6 months of 2020 reached US $ 6,641 / ton, down 13.1% over the same period in 2019.

The volume of raw cashew imports in July 2020 was estimated at 165 thousand tons with a value of 170 million USD, bringing the total volume and value of cashew imports in the first 7 months of 2020 to 764 thousand tons and 969 million USD, down 18.8% in volume and down 24.6% in value over the same period in 2019.

In the first 6 months of the year, Cambodia, Cote d'Ivoire, Gana and Tanzania are the four main cashew import markets for Vietnam. Cashew import value from Tanzania market increased sharply in the first 6 months of 2020 with an increase of 182 times. Meanwhile, the markets of Cambodia, Cote d'Ivoire and Gana showed a decrease in cashew exports to Vietnam with a decrease of 13.7%, 47% and 38.5% respectively.

In July 2020, prices of domestic raw materials fluctuated positively compared to the previous month. Specifically, cashew nuts purchased in Binh Phuoc increased from 26,000 VND / kg to 27,500 VND / kg. In Dak Lak, fresh cashew nuts (not yet classified) increased from 28,000 VND / kg to 30,500 VND / kg, dry cashew grade 1 increased from 47,000 VND / kg to 50,000 VND / kg. In Dong Nai, raw cashew nuts increased from 27,000 VND / kg to 40,000 VND / kg.

On the world market, in July, cashew kernel price in Indian market was stable. Price of mankind WW240 at 83.95 USD / kg; cashew nuts broken 8 pieces at 4.75 USD / kg; cashew nuts broken 4 pieces at 5.75 USD / kg; Cashew nut broken 2 pieces at 5.69 USD / kg. For European market, the code W240 ranges from 6,724 - 7,164 USD / ton, W320 code from 5,401 - 6,062 USD / ton, W450 code is very few customers ask to buy.

According to the World Cashew Association, global raw cashew production in 2020 is forecast to decrease by 21 thousand tons compared to 2019 due to inefficient production in Africa and reduced productivity. The total supply of raw cashew nuts for 2020, including the amount of old inventories transferred and the new harvests decreased by 167 thousand tons compared to 2019. The situation of oversupply of raw cashew nuts has ceased from the beginning of 2020 when the inventories from the year 2019 has been used up. Currently, the shortage of raw cashew has pushed up the price of this product while the price of cashew kernel has decreased, making the processing of cashew become more difficult. Influenced by Covid-19, the import of raw cashew nuts from African countries became more difficult. Meanwhile, cashew transactions in the second quarter showed signs of slowing down. Many importers from the US and EU have proposed to postpone the delivery of WS and LP cashews due to high inventories.