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China increased buying cashew nuts, opening factories along the Vietnam border

China increased buying cashew nuts, opening factories along the Vietnam border

21-05-2019

 

The United States imports the largest Vietnamese cashew, but China is a sudden market

 

Ministry of Industry and Trade quoted statistics from the General Department of Customs, said that cashew nut export in April 2019 was nearly 35.7 thousand tons, worth USD 271.18 million, up 11.6% in volume and 8 , 4% of the value compared with March 2019, compared with April 2018, increased by 10.9% in volume, but decreased by 12.6% in value. In the first 4 months of 2019, cashew nut export reached 115.1 thousand tons, valued at 910.49 million USD, up 8.4% in volume, but decreased by 14.4% in value compared to the first 4 months. 2018.

 

Ministry of Industry and Trade said that the United States is Vietnam's largest cashew export market in April with an amount of 11.6 thousand tons, worth 88.52 million USD, down 11.2% in volume and 30 , 6% of the value compared with April 2018. Accumulated in the first 4 months of 2019, Vietnam's cashew nut exports to the United States reached nearly 37 thousand tons, worth USD 294.62 million, down 3.9% in volume and 24% in value compared with 4 months early 2019.

However, it is noteworthy that compared to the same period in April 2018, cashew exports to China increased by 92.6% in volume and 54% in value, reaching over 4,000 tons, worth 31 , 4 million USD.

 

Some other markets also increased strongly, as Germany increased 114.5% in volume and 65.7% in value; Thailand increased by 54.7% in volume and 17.4% in value; Italy increased by 55.4% in volume and 21.6% in value. For the first 4 months of 2019, export of cashew nuts to strong growth markets, such as Germany, Thailand, Australia and Russia.

 

Regarding the average export price of cashew nuts reached USD 7,601 / ton - the lowest level since February 2016, down 2.9% compared to March 2019 and down 21.2% compared to April 2018. In the first 4 months of 2019, the average export price of cashew nuts reached USD 7,910 /

ton, down 21% compared to the first 4 months of 2018.

 

In the first 4 months of 2019, the average export price of cashew nuts to Hong Kong reached USD 10,634 / ton, down 8.4% compared to the first 4 months of 2018; Kuwait reduced 19.6% to 8,923 USD / ton; Belgium reached 9.124 USD / ton, down 14.3%; France reached 9,412 USD / ton, down 15.3%.

 

China opened a cashew processing facility along the border

 

At the meeting to summarize export business activities in 2018, Mr. Pham Van Cong, Chairman of Vietnam Cashew Association (Vinacas) once said that Vietnam continues to hold the world No. 1 position in exporting thing.

 

Production in 2018 is 391,000 tons of cashew nuts, export value is more than 3.5 billion USD. Vietnam cashew nuts exported to more than 90 countries and territories, accounting for 60% of the total value of world cashew exports. Behind our country are India and Brazil. With the attraction of the cashew industry, in the past year, many domestic and foreign enterprises participated in the market, investing in cashew processing factories in Vietnam. Notably, some cashew processing establishments are invested by Chinese enterprises in export processing zones along the Vietnam - China border.

 

Some businesses said that the trend of business mergers and acquisitions continued in 2018, especially some Chinese enterprises came to the issue of cooperation and acquisition of shares of Vietnamese cashew enterprises. However, because of many demands on rights and participation, these partners were rejected by Vietnamese enterprises. According to Mr. Cong, the 2019 forecast could continue to be a challenging year for the industry, so producers and processors need to be cautious. The association recommends that businesses do not rush to sign contracts when the crop has not started yet.

Mr. Dang Hoang Giang - Vice Chairman of Vinacas said that Vietnam's cashew sold to China in the last 10 years has always accounted for 13-15% of the total annual export volume of Vietnam. The main border gates of cashew goods exported to China include Cao Bang, Lao Cai, Quang Ninh ... Particularly, Lang Son border gates have not been exported much.

 

Source:http://www.vinacas.com.vn/