Cashew nuts in the country increased and maintained at a high level thanks to the demand of the recovering world market . According to the Ministry of Industry and Trade, the demand for global cashew consumption may grow by 10-15% in the third quarter of 2019.

Increase by 10-15% in Q3

After the first 4 months of the gloomy year, in early May the price of cashew nuts, cashew nuts and cashew nuts processed by Vietnam has prospered. According to the Vietnam Cashew Association (VINACAS), the current cashew nuts of manufacturing factories only meet the contracts signed before, while many orders need to be delivered immediately, the amount of cashew nuts does not meet the demand. need.
Specifically, statistics of the General Department of Customs said: Cashew nut export in May 2010 reached 40,000 tons, worth 294 million USD, an increase of over 12% in volume and 8.4% in value compared with April 2014.
Accumulated 5 months of the year reached 154,000 tons, worth 1.2 billion USD, up nearly 8% in volume but decreased by nearly 15% in value compared to the same period in 2018. The export price of cashew nuts averaged 4 months in early 2019 reached 7,910 USD / ton, down 21% compared to the same period in 2018.
In the first 4 months of 2019, the markets with export value of cashew nuts increased sharply such as: Belgium increased by 82%, Spain by 35%, Australia by 32%, Germany by nearly 30%. The US, China and the Netherlands are the three largest cashew import markets of Vietnam with 32%, 13% and 9.6% of the total value of cashew exports.
The export price increases, causing the domestic material price to increase accordingly. In May, the price of cashew in Dong Nai was stable at VND 46,000 / kg; In Binh Phuoc, the price of dry cashew bought buckets in Binh Phuoc was VND 34,500 / kg, an increase of VND 4,500 / kg compared to early May.
The Ministry of Industry and Trade forecasts that global demand for cashew nuts may grow by 10-15% in the third quarter of 2019. Cashew nut price of W320 type (from 300 to 320 grains / pound – 454 grams) will reach 3.3-3.5 USD / pound.


Vietnam imports the most from Cambodia

In the first 5 months of this year, Vietnam imported raw materials with 416,000 tons, an increase of nearly 8% compared to the same period of 2018, but the import value was only 663 million USD, down by over 22%. Previously, Vietnam mainly imported cashew from African countries, especially Ivory Coast, but the source of materials from this area had many risks in terms of quality and unstable prices. The largest cashew import market in Vietnam in the first 4 months of this year is Cambodia. The country supplied nearly 42% of the market share, the import value of this market also increased by 60.2% over the same period in 2018.

However, to overcome the scarcity of supply of quality cashew nuts, Binh Phuoc Provincial People’s Committee had a meeting with the delegation of Ivory Coast. The country also 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 has not met the processing demand of enterprises, so it is necessary to import raw materials for processing every year.
In addition to the two main sources mentioned above, recently Vietnam has more new markets such as Ghana, Nigeria and Republic of Tanzania, Indonesia. This will be a significant additional source for Vietnam’s cashew industry to reduce the burden of dependence on raw materials. 
Production and processing of export articles is the strength of Vietnam’s agricultural sector, and over the past decade this industry has also led the world. However, in the past 2 years, many difficulties have been faced by businesses that compete and devalue each other besides the consumption demand of the world.