With positive signs of cashew consumption situation in the third quarter of 2019, Import and Export Department forecast W320 cashew nut price will reach 3.3-3.5 USD / pound thanks to demand for cashew nuts Demand may reach 10-15% growth

Department of Import and Export (Ministry of Industry and Trade) said that the export of cashew nuts in 5/2019 is estimated at 40 thousand tons, worth 294 million USD, up 12.1% in volume and 8.4% in value compared to with 4/2019, compared with May 2018, increased 10.1% in volume, but decreased by 13.5% in value. In the first 5 months of 2019, cashew nut export reached 155 thousand tons, worth 1.204 billion USD, up 8.8% in volume, but decreased by 14.2% in value compared to the first 5 months of 2018.

The average export price of cashew nuts in May 2019 reached 7,350 USD / ton, down 3.3% compared to April 2019, compared with May 5/2018, down 21.4%. Accumulated in the first 5 months of 2019, the average export price of cashew nuts reached USD 7,766 / ton, down 21.1% compared to the first 5 months of 2018.

After the gloomy period lasted for the first 4 months of this year when the price fluctuated mainly in the downward trend and at a low level, the price of cashew nuts and cashew nuts of Vietnam had a start in May 2018. sharp. 

According to the Vietnam Cashew Association, the current cashew nuts of manufacturing factories only meet the contracts signed before, while there are many orders that need immediate delivery, the quantity of cashew nuts does not meet the demand.

To overcome the scarcity of quality cashew supplies, Binh Phuoc Provincial People’s Committee had a meeting with the Ivory Coast delegation. Ivory Coast is the world’s leading market for producing cashew nuts with an area of ​​1.4 million hectares, an average yield of about 5 quintals per hectare, but only 8% of the production is processed in-depth. world market. Accordingly, the country wishes to cooperate with Binh Phuoc enterprises in promoting cashew processing. 

Binh Phuoc is known as the “capital” of the whole country because of its rich experience and many businesses and establishments involved in the production chain of export of cashew nuts. However, the current cashew output of Binh Phuoc does not meet the processing demand of enterprises, so it is necessary to import raw materials for processing every year.

With positive signs of cashew consumption situation in the third quarter of 2019, Import and Export Department forecast W320 cashew nut price will reach 3.3-3.5 USD / pound thanks to demand for whole grain Demand may reach 10-15% growth during this period.