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  • Reaching a record in 2019, cashew exports set a target of 4 billion USD in 2020

    Dec 29th, 2019

    According to VINACAS, 2020 will be a difficult year for cashew industry: complicated developments in the international economy, US-China trade conflict, US-India, protection policies of related countries regarding raw cashew. and human. Data for the year of 2019 will be expected to target 4 USD in 2020

    According to a report of the Vietnam Cashew Association at the review meeting of cashew industry activities in 2019 and the implementation of the operational orientation in 2020, which took place on December 27 in Ho Chi Minh City, by the end of November 2019, the whole country exported 418,110 tons of cashew nuts of all kinds with export turnover of nearly US $ 3 billion. This number increased by 16.47% in volume but decreased by 8.32% in value over the first 11 months of 2018. The average export price of cashew nuts was 7,269 USD / ton, down 20.73% over the same period.

    In addition, the cashew industry also exports deep-processed products such as honey, salted cashew ... reached about 0.6 billion USD, bringing the total export value in 2019 to 3.6 billion USD. Accordingly, the cashew industry has completed and exceeded the plan set out at the beginning of the year. This is also the first year the cashew industry achieved $ 3.6 billion. Regarding importing raw cashew nuts, Vietnam also set a new record with the total number of imported raw cashew nuts reaching 1,534,825 tons, with an average import price of 1,333 USD / ton, up 27.54% to import volume and a decrease of 29.78% in average prices over the same period last year.

    Mr. Pham Van Cong, Chairman of Vietnam Cashew Association said that 2019 was a turbulent year for Vietnam and the world cashew industry due to the prolonged first half of the year affected by the crisis in 2018. However, this year Vietnam cashew industry not only maintained its leading position in the export of cashew nuts but also set a new record of the total amount of raw cashew nuts imported to Vietnam. "The timely entry of a number of businesses with financial resources has helped Vietnam cashew industry stabilize the price of imported raw cashew nuts, regulate supply and demand of raw material markets. This is a surprise that the industry what Vietnam has never done before, "said VINACAS President. In 2020, VINACAS recommends businesses to reduce production and increase quality with the goal of maintaining the world's No. 1 position in cashew exports with a total export turnover of US $ 4 billion. However, Mr. Nguyen Minh Hoa, Vice President of Vietnam Cashew Association, said that 2020 is still an unpredictable year due to the complicated developments of the international economy, the US-China, US-India trade conflict. and protectionist policies of countries regarding both raw and cashew nuts and developments in the global cashew market. Many experts believe that in the first 6 months of 2020, the prices of raw and cashew nuts may fluctuate but the amplitude is not large. Besides, big roasters from the US and Europe said that they would impose additional food safety standards and check the amount of banned chemicals because the supermarket is becoming more and more strict. food safety. EU and some European countries will tighten regulation on goods origin.

    In addition, the world cashew industry has not yet surveyed, assessed the increase in consumer demand in 2020 and the coming years and has not planned output prices ... These issues require businesses must be sensitive, regularly monitor and update to keep up with the market. Regarding cashew nut processing, businesses need to promote the improvement of machinery and equipment to improve processing capacity and efficiency, including deep processing.  Accordingly, the Association will closely follow market movements as well as domestic and international changes and changes related to timely conveying to businesses, and at the same time, providing forecasts and recommendations to help businesses. make the right business decisions.