According to the Vietnam Cashew Association (VINACAS), the important issue now is to control the quality of goods at ports and carefully examine the quality at the port of arrival to avoid damage to businesses.
Actual quality in West African countries is declining. In addition, by all means take the goods to Vietnam quickly and put into production early to ensure sufficient delivery to customers in the third quarter peak.
The current thing is that the production plants are only enough to meet the contracts signed before, while there are many orders that need to be delivered immediately, the number of workers cannot meet.
VINACAS said this situation may still last for a long time because of the forecast of many experts. Besides, the demand for global cashew consumption may reach 10 - 15% this year.
VINACAS forecasts the price of cashew nuts of W320 can be kept at 3.3-3.5 USD / pound in the near future.
"After the gloomy period from January to April when prices continued to go down, to May as of May 21, in general, the personal market in particular and the processing industry in general of Vietnam are quite optimistic. About consumption and prices, "VINACAS said.
Department of Import and Export, Ministry of Industry and Trade forecast to the third quarter of 2019, the global price of cashew is likely to recover because of decreasing supply. The third quarter is usually the time when cashew supplies are at the lowest level of the year, while the demand for cashew nuts increases sharply at the end of the year.
According to statistics of the General Department of Customs, Vietnam's cashew nut export in April reached nearly 37500 tons, worth US $ 271.18 million, up 11.6% in volume and 8.4% in value. with March.
In the first 4 months of 2019, cashew nut export reached 115,100 tons, worth 910.5 million USD, up 8.4% in volume, but decreased by 14.4% in value compared to the same period last year.
The school has a strong impact on the last quarter of 2019
Some Vietnamese businesses disturb the West African raw cashew market
VINACAS information today, there is a large group of Vietnam that some members of the Group are also members of VINACAS are involved in causing turmoil in the West African raw cashew market recently.
Some businesses requested VINACAS to consider and clarify and take measures to rectify the activities of this member enterprise.
In addition, businesses also recommended VINACAS to research and gather enterprises and organize similar activities to support their member enterprises in importing raw cashew from Africa in the near future.VINACAS office is gathering ideas to propose specifically to VINACAS leaders on this issue.